EMI calculator
Work out the monthly EMI on a home, car or personal loan from the amount, the interest rate and the tenure, with total interest and a year-by-year table.
How it works
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments.
Assumptions
- Fixed rate for the whole tenure and a reducing balance: interest each month is charged on what is still owed.
- Payments at the end of each month. Processing fees, insurance, part-prepayments and rate changes are not included.
- Your lender’s own schedule is the one that counts; small differences come from rounding and day-count rules.
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These tools do arithmetic on the numbers you enter. They are for illustration and education. They do not predict returns, and they are not investment, tax or financial advice. Returns are not guaranteed.