All calculators › Loan calculators
EMI calculator
Work out the equated monthly instalment (EMI) on a home, car, personal or education loan. Enter the loan amount, the annual interest rate and the tenure.
- Principal
- —
- Total interest
- —
- Total amount payable
- —
Loan Reiknivel — learn loans and EMI on your phone
Loan Reiknivel is an Android loan and EMI calculator app for trying out loan amounts, rates and tenures on the go.
How it is calculated
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. Early instalments are mostly interest; the principal share grows as the outstanding balance falls.
Related calculators
This calculator is an educational illustration only and is not financial advice. It is not a loan offer, and it ignores processing fees, insurance, taxes, prepayments and floating-rate resets. Your lender's actual EMI may differ.