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Find the monthly instalment, total interest and total payable on any loan.
Enter a loan amount, interest rate and tenure to see your monthly EMI.
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)
P is the principal, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments. When the rate is zero the formula collapses to P divided by n, which this calculator handles separately.
A home loan of 25,00,000 at 8.5% a year for 20 years.
The EMI works out to about 21,696 a month, with roughly 27,07,000 paid in interest over the full term.
An EMI (equated monthly instalment) keeps your payment the same every month, but the split between interest and principal changes. Early instalments are mostly interest; later ones repay mostly principal.
Lenders may also charge processing fees, insurance or prepayment penalties, which are not part of the EMI. Ask for the full amortisation schedule before signing.
Yes, but it increases the total interest you pay. Stretching a loan from 15 to 20 years lowers the monthly payment while adding years of interest, so compare the total payable, not just the instalment.
Enter the annual nominal rate your lender quotes, before tax benefits. If your loan is on a floating rate, the EMI recalculates whenever the rate changes.
No. It calculates the instalment on the principal and rate you enter. Add processing fees, insurance and documentation charges separately when comparing offers.
Yes. Enter 0 as the rate and the calculator simply divides the principal by the number of months.
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