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Free Online EMI Calculator

Plan your finances effectively by calculating the Equated Monthly Installment (EMI) for your loans. Enter the loan amount, interest rate, and tenure to see your monthly payment, total interest, and more.

Loan Details

Loan Summary

Loan Amount: ₹ --
Monthly EMI: ₹ --
Total Interest Payable: ₹ --
Total Payment (Principal + Interest): ₹ --

How to Use the EMI Calculator

Our free EMI calculator is designed for simplicity:

What is EMI?

EMI stands for Equated Monthly Installment. It's a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over the specified loan tenure, the loan is fully paid off.

The formula used to calculate EMI is:

EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)

Where:

Understanding Your Loan Breakdown

This calculator provides key figures to help you understand the cost of your loan:

Benefits of Using an EMI Calculator