SolveItByTechCalculators

EMI Calculator

Popular

Calculate your monthly home, car, or personal loan installment and interest

Loan Parameters

₹
₹ 50,000₹ 2,00,00,000
Calculation Result
Monthly Loan EMI
₹8,678
Equated Monthly Installment
Loading visualization...
Principal Amount
₹10,00,000
Total Interest
₹10,82,775
Total Repayment
₹20,82,775

How this calculator works

1

Enter the total principal amount borrowed from the bank or financial institution.

2

Specify the annual interest rate quoted by your lender.

3

Choose your loan duration in years or months to see your monthly installment and total repayment breakdown.

Formula & Mathematics

Equated Monthly Installment (EMI) Formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ - 1)

Where P is the Principal loan amount, r is the monthly interest rate (Annual Rate / 12 / 100), and n is the loan tenure in months.

Worked Example

Home Loan EMI of ₹25,00,000 for 20 Years

Borrowing ₹25,00,000 at 8.5% annual interest for 20 years (240 months).

• Monthly interest rate r = 8.5 / 1200 = 0.007083
• Number of installments n = 240 months
• EMI = 25,00,000 × 0.007083 × (1.007083)²⁴⁰ / ((1.007083)²⁴⁰ - 1) = ₹21,695
• Total Payment over 20 years = ₹52,06,878
Your monthly EMI is ₹21,695. Total interest paid is ₹27,06,878.

Frequently Asked Questions

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month to clear both principal and interest.

You may also like

Related calculators in Finance

View all in Finance →

Loan Comparison & Prepayment Calculator

Simulate prepayments and compare how extra payments reduce your loan tenure and interest

financeCalculate
Popular

SIP Calculator

Calculate the future wealth generated by Systematic Investment Plans in mutual funds

financeCalculate

Simple Interest Calculator

Calculate straightforward interest on deposits, bonds, and short-term loans

financeCalculate