EMI Calculator
Work out the monthly instalment (EMI) for any loan — home, car, or personal. See your monthly payment, total interest, and total amount payable.
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Monthly EMI
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Total interest
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Total payable
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How EMI is calculated
EMI (Equated Monthly Instalment) uses this formula:
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments (years × 12).
Does a longer tenure reduce my EMI?
Yes — a longer tenure lowers the monthly EMI, but you pay more total interest over the life of the loan.
Is this an official quote?
No. It's an estimate to help you plan. Your lender's actual EMI may differ due to fees and compounding methods.