Calculate your EMI
Fill in the three numbers every lender gives you: how much you're borrowing, the annual interest rate, and how long you'll take to repay it. Hit calculate — no sign-up, no spam.
Total interest payable: –
Total amount payable: –
How the EMI math works
Banks don't guess your EMI — they use one fixed formula. Monthly rate r = annual rate ÷ 12 ÷ 100, and n = total number of months:
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
If the rate is 0%, it's just P ÷ n — no interest, no complication. Try it: ₹500,000 at 11% for 5 years works out to an EMI of about ₹10,871, with total interest around ₹152,273. Want to understand the interest side in more depth? Read our guide on how to calculate loan interest or play with the interest calculator.
Comparing loan offers?
Two offers with the same EMI can still cost very different totals — processing fees, insurance add-ons and longer tenures quietly push the price up. Run each offer through this calculator and compare the "total amount payable" line. That's the only number that matters.
Already have a loan and wondering if switching helps? Try the refinance calculator. Borrowing for a car instead? The car loan calculator and mortgage overpayment calculator cover those cases.
Personal loan questions, answered straight
What is EMI?
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month until the loan is cleared. It's "equated" because it never changes, even though the split between interest and principal shifts: early EMIs are mostly interest, later ones are mostly repayment.
How is personal loan EMI calculated?
Take the monthly interest rate (annual rate ÷ 12 ÷ 100) and the total number of months. The formula is: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount. Plug the numbers in — or just use the calculator above and skip the algebra.
Does a longer tenure always cost more?
Pretty much. A longer tenure shrinks your EMI, which feels easier — but you pay interest for more months, so the total goes up. Sometimes a lot. Always compare the total amount payable, not just the EMI, before choosing a tenure.
Will prepaying my loan save money?
Yes — if there's no prepayment penalty. Every extra payment goes straight to the principal, which cuts the interest on all future EMIs. Prepaying early in the loan saves the most, because that's when interest is at its highest. Check your loan agreement for lock-in periods or charges first.
Is this financial advice?
No. This page does math — it can't tell you whether you should take a loan, how much you can afford, or which lender to pick. For that, talk to a qualified financial advisor who knows your situation.
General information only, not financial advice. EMI figures are estimates based on the reducing-balance method; your lender's actual schedule may differ slightly due to rounding, fees or rate changes. Figures update with market rates — check with your lender for final terms.