EMI Calculator India
Calculate your monthly loan EMI instantly — home loan, car loan, personal loan
How to Use EMI Calculator
Enter your loan amount, interest rate, and tenure. Click Calculate to instantly see your monthly EMI, total interest payable, and complete amortization schedule. Use the sliders for quick adjustments.
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]
P = Principal | R = Monthly Rate (Annual ÷ 12 ÷ 100) | N = Tenure (months)
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed monthly payment made to repay a loan. It includes both principal and interest components.
How is EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N-1] where P is principal, R is monthly rate, N is tenure in months.
Does EMI change if interest rate changes?
For fixed-rate loans, EMI stays constant. For floating-rate loans, EMI may change when the base rate is revised by your bank.
Can I reduce my EMI?
Yes — by increasing tenure, making part prepayments, or refinancing at a lower rate.
Which Indian banks have lowest home loan rates?
SBI, HDFC, ICICI, Kotak typically offer competitive rates. Always compare before applying.