EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments. Enter your own figures below to see the EMI, the total interest and the total you will repay.
Example values only. Replace them with the figures in your own offer.
Reducing-balance method. Excludes processing fees, GST, insurance and other charges.
How does an EMI calculator work?
Most loans in India use the reducing-balance method. Each month, interest is charged only on the principal still outstanding, so early EMIs are mostly interest and later EMIs are mostly principal. The calculator above applies the standard reducing-balance formula and shows the totals. It is a planning tool: the lender's sanction letter and amortisation schedule are what count.
What affects your EMI?
Three inputs decide the number. A larger amount raises the EMI in direct proportion. A higher interest rate raises both the EMI and the total interest. A longer tenure lowers the EMI but increases the total interest you pay, sometimes by a very large margin on home and property loans. Try the same amount at two tenures to see the difference.
EMI is not the full cost of a loan
Processing fees, GST on fees, insurance premiums bundled into the loan, documentation charges and prepayment or foreclosure charges are not part of the EMI. Always ask the lender for the Key Fact Statement, which must state the annual percentage rate (APR) covering the all-in cost of credit, so you can compare offers on a like-for-like basis.
How to lower your EMI burden
Make a larger down payment where the loan is secured, choose the shortest tenure you can comfortably afford, check whether part-prepayment is allowed without a penalty, and compare at least three offers. A small difference in rate matters: on a long-tenure loan, half a percentage point can mean lakhs of rupees over the life of the loan.
Is the rate in the calculator my real rate?
No. The default values are examples only. Your real rate depends on the lender, your credit score, income, employer or business profile, the loan amount and whether the loan is secured. Replace the example with the rate in the offer you have received.
Explore guides for the loan you are planning: personal loans, home loans, vehicle loans, business loans and gold loans.
EMI calculator for every loan type
Pick the calculator for your loan. Each one starts with typical amounts, rates and tenures for that loan, and handles how it is really repaid: down payments for vehicles and homes, moratoriums for education loans, bullet repayment for gold loans and interest on the amount drawn for credit lines.
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Personal Loans
Home & Housing Loans
Property Loans
Vehicle Loans
Business Loans
Education Loans
Gold Loans
Loans Against Financial Assets
Agriculture Loans
Consumer & Lifestyle Loans
Specialized Loans
EMI calculator frequently asked questions
How is EMI calculated?
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly instalments.
Do these calculators include processing fees and insurance?
No. The calculators show principal and interest only. Processing fees, GST, insurance and other charges are extra, so read the lender's Key Fact Statement to see the full cost, including the annual percentage rate.
Is the result my actual loan offer?
No. It is an estimate for planning. The lender decides your rate, amount and tenure after checking your income, credit score and documents.
Does a longer tenure make a loan cheaper?
It lowers the monthly EMI but increases the total interest you pay, because you owe the principal for longer.
Which calculator should I use?
Pick the page for your loan type from the list above. Each loan type has its own guide with typical amounts, tenures and eligibility.
Official sources and further reading
These guides are written from Reserve Bank of India rules and official scheme pages. Rules, rates and scheme terms change, so check the current position on these sites and in your lender's Key Fact Statement before you apply.
- RBI: Key Facts Statement (KFS) for loans and advances. The Reserve Bank of India notification that tells lenders to give every borrower a plain-language statement of the full cost of a loan.
- RBI Complaint Management System. Where to take a complaint against a bank, NBFC or other regulated lender if the lender does not resolve it.
- RBI (Pre-payment Charges on Loans) Directions, 2025. Bars pre-payment charges on floating-rate loans taken by individuals for non-business purposes, for loans sanctioned or renewed from 1 January 2026.
- Reserve Bank - Integrated Ombudsman Scheme, 2021. The single complaint scheme for customers of banks, NBFCs and other RBI-regulated lenders.
- RBI: Free Annual Credit Report to Individuals. Credit bureaus must give you one free full credit report with score every calendar year.
- RBI Financial Education. Consumer guidance from the Reserve Bank of India on borrowing, fraud and your rights as a customer.
Edited by Hemant Kumar. Rates on this site are indicative ranges, not offers.