Loan EMI calculator
Monthly instalment and the real interest you'll pay.
Quick answer
An EMI calculator computes your Equated Monthly Instalment on any loan using the standard reducing-balance formula. Enter loan amount, interest rate, and tenure to see monthly EMI, total interest paid, and total repayment.
Monthly EMI
On a ₹5,00,000 loan over 60 months.
- Total interest
- ₹1,37,411
- Total you repay
- ₹6,37,411
- Interest is
- 27% of the loan
Rates & rules checked on 15 June 2026 · based on FY 2025-26 (AY 2026-27).
What this tells you
EMI (Equated Monthly Instalment) is the fixed monthly payment on a loan. This calculator shows the EMI and, more importantly, the total interest you'll actually pay.
How it's calculated
Standard reducing-balance formula: EMI = P·r·(1+r)ⁿ / ((1+r)ⁿ−1), where r is the monthly rate and n the number of months.
Common questions
- Does a longer tenure reduce my cost?
- No — it only lowers the monthly EMI. A longer tenure means more months of interest, so the total you repay goes up, often a lot. Borrow for the shortest term you can afford.
Jargon, explained
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Sources
For general education, not personalised financial advice. Verify current rates and rules before acting — tax laws and interest rates change.