EMI Calculator
Work out the monthly EMI, total interest and total amount payable on any loan. Enter the loan amount, interest rate and tenure to get instant results.
What is an EMI calculator?
An EMI (Equated Monthly Instalment) calculator tells you how much you'll pay each month on a loan — whether it's a home loan, car loan, personal loan, or any other debt. Knowing your EMI before you borrow lets you check affordability and compare offers from different lenders.
The calculator also shows the total interest you'll pay over the life of the loan, which is often surprisingly high on long-tenure loans. A home loan of 5,000,000 at 9% over 20 years results in more than double the principal paid back in total.
How EMI works
Each EMI payment covers two components: an interest portion and a principal repayment portion. In the early months of a loan, most of the EMI goes towards interest. As the loan matures, the principal component increases. This is called an amortising loan.
- Loan amount (principal) — the amount you borrow.
- Interest rate — the annual rate charged by the lender. Compare the APR (annual percentage rate) when choosing between lenders.
- Tenure — how many years to repay. Longer tenure = lower EMI but much higher total interest paid.
The EMI formula
A worked example
Loan of 500,000 at 9% p.a. for 5 years:
| Metric | Value |
|---|---|
| Monthly EMI | 10,378 |
| Total amount paid | 622,680 |
| Principal | 500,000 |
| Total interest paid | 122,680 |
Extending the same loan to 10 years drops the EMI to 6,333 but raises total interest to 259,960 — more than double. Shorter tenures save significant interest if you can afford the higher EMI.