What will my EMI be on any loan?
Enter the amount, the yearly interest rate and how long you will repay over. You will see the monthly instalment and how much of what you repay is interest. It works for any loan with a fixed rate and equal monthly payments.
Monthly EMI
₹10,871
Indicative only. Your lender’s figures may differ. Nothing you enter here is sent anywhere or stored.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P is the loan amount, r the monthly rate (the yearly rate ÷ 12 ÷ 100) and n the number of months. Each month's interest is charged on what is still owed, so early EMIs are mostly interest and later ones mostly principal.
Total interest is every EMI added up, minus the amount you borrowed.
If you enter
You get
These are the calculator's starting values. Change them above to see your own.
Compare rates, processing fees and eligibility, then apply on the lender's own site.
HDFC Bank
Protium Finance Limited
Bajaj Finserv
An equated monthly instalment: the same amount every month until the loan is repaid. Each EMI pays that month's interest first; the rest reduces what you owe.
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r the monthly rate (yearly rate ÷ 12 ÷ 100) and n the number of months.
No. A longer tenure lowers the EMI but raises the total interest, often by a lot. Pick the shortest tenure whose EMI you can pay comfortably.
No. Fees do not change the EMI, but they are part of what the loan costs you, so add them when you compare lenders.
Short reads that explain how it works before you decide.
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