Money calculator

Loan EMI calculator

Find your monthly instalment for an education, home, car or personal loan before you sign.

Loan amount (₹)

Interest rate (% per year)

Loan period

Monthly EMI

–

–total interest

–total payment

Planning to pay extra? See the savings with the loan prepayment calculator.

Year-by-year repayment

How EMI is calculated

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

P is the loan, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. In the early years most of each EMI goes to interest. Later, most of it goes to the loan itself.

Education loan with a moratorium?

Many education loans have a moratorium (study period plus a few months) when interest still builds up. This calculator assumes repayment starts straight away. If interest is added during the moratorium, enter the larger balance as the loan amount.

How can I lower my EMI?

A longer period lowers the EMI but raises the total interest. A bigger down payment or a lower rate lowers both.