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Use our Loan EMI Calculator to instantly compute your monthly EMI, total interest payable, and total payment on any home loan, car loan, personal loan or business loan. Enter the loan amount, annual interest rate and loan tenure to get accurate results in seconds.
What Is an EMI?
EMI stands for Equated Monthly Installment. It is the fixed monthly amount you pay to the lender until the loan is fully repaid. Each EMI consists of a principal component and an interest component. Our calculator shows both so you can plan your finances better.
How to Use the Loan EMI Calculator
- Enter your Loan Amount (₹) in the first box.
- Enter the Annual Interest Rate (%) offered by your bank or NBFC.
- Enter the Loan Tenure in years or months and select the correct unit.
- Click the “Calculate EMI” button.
The calculator will show your Monthly EMI, Total Interest Payable, and Total Payment (principal + interest).
Benefits of Our EMI Calculator
- Fast and Accurate: Calculates instantly using the standard EMI formula.
- Mobile Friendly: Works smoothly on smartphones and tablets.
- No Registration: Free to use for unlimited calculations.
- Plan Smarter: Compare different loan amounts, rates and tenures before you borrow.
Loan EMI Formula
Our calculator uses the standard EMI formula:
EMI = [P × R × (1+R)N] / [(1+R)N – 1]
where P = Loan Amount, R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100), N = Number of Months.
FAQs
Is this EMI calculator free?
Yes, our online EMI calculator is completely free and can be used any number of times.
Which types of loans can I calculate EMI for?
You can calculate EMIs for home loans, personal loans, car loans, education loans and more.
Does it show the total interest as well?
Yes. Along with monthly EMI, the calculator shows total interest payable and total amount payable (principal + interest).
Disclaimer: The calculations are for informational purposes only and may vary from your bank’s actual offer.