Plan your loan EMI in seconds
Built for the Indian market. Calculate monthly EMI, total interest and total payable amount for home loans, personal loans, business loans, auto loans and more.
- Principal
- ₹10,00,000
- Total Interest
- ₹2,89,634
- Total Payable
- ₹12,89,634
How the EMI formula works
The equated monthly installment (EMI) is calculated using the standard reducing-balance method used by every RBI-regulated Indian lender.
EMI = [P × r × (1 + r)n] / [(1 + r)n − 1]- P — Principal loan amount (₹)
- r — Monthly interest rate (annual rate ÷ 12 ÷ 100)
- n — Tenure in months
Common EMI questions
What is EMI?+
Equated Monthly Installment — a fixed amount you pay every month until the loan is fully repaid. Each EMI includes part principal and part interest.
Can I prepay my loan to reduce EMI?+
Yes. Most Indian lenders allow part-prepayment on floating-rate loans with zero charges. Fixed-rate personal loans may carry a prepayment fee of 2–5%.
How does interest rate affect EMI?+
A 1% change in interest rate on a ₹50 lakh, 20-year home loan changes the EMI by roughly ₹3,200 per month.
Is this EMI calculator accurate for Indian lenders?+
Yes. It uses the standard reducing-balance formula followed by all RBI-regulated banks and NBFCs in India.