EMI Calculator
Calculate the Equated Monthly Instalment on any loan — home, car or personal — plus total interest and the full cost over the tenure.
Monthly EMI
—
Total interest —
Total payment —
Interest as % of principal —
Amounts are in your own currency. Reducing-balance method; excludes processing fees and insurance.
✉ Email me this result
</> Embed this calculator
Paste this into any website or blog post. It is free — the small "powered by" link must stay visible.
How it works
EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ−1), r = annual rate ÷ 12Frequently Asked Questions
How is EMI calculated?
EMI uses the reducing-balance formula: principal times the monthly rate times (1+rate)^months, divided by ((1+rate)^months − 1). A ₹30,00,000 loan at 9% for 20 years gives an EMI of about ₹26,992.
What is the difference between flat and reducing interest?
Reducing-balance (used here and by most home loans) charges interest only on the outstanding balance, so it's cheaper. Flat-rate charges on the full principal throughout — a '10% flat' loan can cost like ~18% reducing. Always compare on reducing terms.
How can I lower my EMI?
Three levers: a longer tenure (lower EMI but more total interest), a bigger down payment (smaller principal), or a lower rate. Prepayments reduce either the tenure or future EMIs depending on your lender.