EMI Calculator
Calculate the equated monthly instalment (EMI) for home, car and personal loans.
Enter your values to see the result.
Results are estimates for planning only. Actual figures depend on your lender or bank, fees, rounding and the exact dates used, so confirm the numbers before you sign anything.
Continue your work
- Amortization Calculator — See every monthly payment.
- Loan Calculator — Compare other loan options.
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Clear instructions
Find steps, examples and limitations below.
Use online
Open the tool in a supported web browser.
Free to use
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How to use the EMI Calculator
Calculate the equated monthly instalment (EMI) for home, car and personal loans.
- 1 Enter the loan amount and yearly interest rate.
- 2 Enter the tenure and choose reducing balance or flat rate.
- 3 Read the EMI, total interest and year-wise breakup.
Example and practical tips
A loan of 1,000,000 at 9.5% for 5 years has an EMI of about 21,002 and total interest of about 260,112 on a reducing balance.
Frequently asked questions
What is the difference between flat and reducing rates?
A flat rate charges interest on the full loan for the whole term, while a reducing rate charges it only on what you still owe, which is much cheaper.
Does prepaying reduce EMI?
It can reduce the EMI or the tenure, depending on your lender; both save interest.
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