Calculator
EMI Calculator
Calculate your monthly EMI for any loan. Enter the loan amount, interest rate, and tenure to see your monthly payment, total interest, and total amount payable.
₹
₹50,000₹5,00,00,000
%
1%30%
months
6 months360 months
Monthly EMI
₹21,247
Total Interest
₹2,74,823
27% of principal
Total Payment
₹12,74,823
5 years 0 months
Payment Split
Principal (78%)Interest (22%)
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both principal and interest over a set period.
EMI Formula
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1), where P = Principal, r = monthly interest rate, n = number of months.
Tips to Reduce EMI Burden
- Make prepayments whenever possible to reduce principal
- Opt for a longer tenure for lower EMI (but higher total interest)
- Compare interest rates across lenders before borrowing
- Consider balance transfer if you find a lower rate