EMI Calculator

Calculate your monthly repayments for home, car, or personal loans.

Principal Amount₹5,00,000
1L50L1Cr
Interest Rate (P.A)8.5%
1%10%20%
Loan Tenure5 Yrs
1 Yr15 Yrs30 Yrs

Monthly Payment (EMI)

₹10,258

Principal Amount₹5,00,000
Total Interest₹1,15,496
Total Payment₹6,15,496
Smart Payoff

Pay 1 extra EMI yearly to save ₹45k in interest payments.

Insured Loan

Comprehensive coverage available starting from 0.45% p.a.

Best Rates

Guaranteed rates locked-in for the next 45 business days.

EMI Calculator Guide & Mathematical Formula

An Equated Monthly Instalment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month, so that over a specified number of years, the loan is fully paid off.

The mathematical formula to calculate EMI is: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]. Where: P is the Principal loan amount, R is the monthly interest rate (annual interest rate / 12 / 100), and N is the loan tenure in number of months.

By choosing a shorter tenure, you pay a higher EMI but save considerably on the total interest charged over the loan lifespan. Use this slider tool to optimize your budget.

Got Questions?

Frequently Asked Questions

Everything you need to know about using this tool securely and efficiently.

Our app features four primary financial tools: Loan EMI Calculator (for Home/Car/Personal loans), SIP Calculator (to project mutual fund returns), FD Calculator (to estimate fixed deposit interest), and a GST Calculator (to add/remove GST taxes).
Loan EMI is calculated using the formula: EMI = [P x R x (1+R)^N]/[((1+R)^N)-1], where P is Principal amount, R is monthly interest rate, and N is the loan tenure in months.
A SIP (Systematic Investment Plan) calculator projects the future value of monthly mutual fund investments using compound interest. You enter your monthly contribution, expected rate of return, and tenure.
Yes. Our FD calculator assumes quarterly compounding, which is the standard practice for major commercial banks in India.
Yes. The GST Calculator has toggles for both 'Add GST' (inclusive calculation) and 'Remove GST' (exclusive calculation), allowing you to extract the base price.
Yes. They use standard mathematical formulas accepted by banks. However, final values might vary slightly based on specific processing fees or bank policies.
Yes, all our calculators run client-side in the browser, meaning they work 100% offline without requiring internet.
Yes, you can bookmark or save your calculations to view them later in the 'Saved' section of the dashboard.

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