EMI ≈ ₹10,623.52 per month
Finance
EMI / Loan Calculator
Estimate monthly loan payments using amount, rate and repayment period.
Free to use No account required Browser calculation
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Input
ReadyEnter your values
Enter the values for this calculator. We’ll show the answer, the method and the formula together.
Calculation method
Formula & methodology
The result above is backed by the calculator-specific formulas and assumptions shown here.
Monthly EMI
P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)P = principal, r = monthly interest rate, n = number of monthly payments.
Zero-interest payment
P ÷ nUsed when the annual interest rate is exactly 0%.
Total repayment
Monthly EMI × Number of paymentsTotal interest
Total repayment − PrincipalMethod & assumptions
The calculator assumes a fixed interest rate and equal monthly payments for the full tenure.
The monthly rate is the annual percentage rate divided by 12 and by 100.
If the interest rate is 0%, the payment is simply principal divided by the number of months.
Actual lender schedules can differ because of fees, daily interest, rate changes, rounding or payment timing.
Important assumption
This is an estimate for a standard fixed-rate reducing-balance loan. Always compare the lender’s actual repayment schedule, fees and rate terms before making a financial decision.
Examples
Worked examples
Examples use this calculator’s own inputs and outputs, not generic page filler.
EMI ₹10,000 · Total interest ₹0
13 payments · EMI ₹1,000 per month
Help & assumptions
Frequently asked questions
Important assumptions and practical details for this calculator.
What does EMI mean?+
EMI means Equated Monthly Instalment: a fixed monthly payment used to repay principal and interest over a defined loan term.
Does this include loan fees or insurance?+
No. The calculation uses principal, interest rate and tenure only. Fees, insurance and lender-specific charges should be considered separately.
Can I use a 0% interest rate?+
Yes. At 0% interest, the principal is divided evenly across the repayment months.
How do the Years and Months fields combine?+
The calculator converts the selected tenure to months using years × 12 + extra months. The Months field is for 0–11 additional months.
Why might my lender’s EMI differ slightly?+
Lenders can use different rounding, payment dates, fees, daily-interest conventions or changing rates. This calculator is a standard fixed-rate reducing-balance estimate.
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