EMI Calculator
Find your monthly instalment for any loan in seconds.
EMI stands for Equated Monthly Instalment, the fixed amount you pay your lender every month until the loan is cleared. Each EMI has two parts: interest on the outstanding balance and a repayment of principal.
Formula used
EMI = P × i × (1 + i)^n / ((1 + i)^n − 1), where P is the loan amount, i the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments.
Ways to reduce your interest
- Choose a shorter tenure if you can afford the higher EMI.
- Make part-prepayments, which reduce the principal that interest is charged on.
- Compare rates across banks, since even 0.25% matters on a long loan.
Last reviewed 7 November 2026. The formula and assumptions are shown above, and results are estimates, not advice.
Frequently asked questions
Does a longer tenure reduce my EMI?
Yes, but you pay much more interest overall. A 25-year loan costs far more than a 15-year loan at the same rate.
Does this include processing fees?
No. Add the lender’s processing fee and other charges separately.
Is this valid for floating rates?
It assumes a fixed rate. With floating rates your EMI or tenure changes when the rate changes.