EMI Calculator

Calculate the monthly EMI, total interest payable and total amount for any loan.

How is EMI calculated?

EMI uses the formula EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is principal, r is monthly interest rate (annual ÷ 12 ÷ 100) and n is total months.

Tips to reduce your EMI

• Make a larger down payment to reduce principal.
• Choose a longer tenure to lower monthly EMI (but pay more interest overall).
• Improve your credit score to negotiate a lower interest rate.
• Consider prepayment whenever you have surplus funds.