EMI Calculator
Estimate the monthly EMI, total interest, and total payment for any loan, at an assumed interest rate and tenure. This is an illustration based on your own assumptions, not a loan offer or approval.
Your loan details
Adjust the amounts below to see how the illustrated EMI changes.
In rupees, the total amount borrowed.
An assumption you choose for illustration — actual rates vary by lender, loan type and your credit profile, and are not guaranteed by this calculator.
Your estimate
Based on a loan amount of ₹30,00,000 at an assumed 8.5% annual interest rate, over a 20 years tenure, using standard reducing-balance EMI compounding. Does not include processing fees, insurance, prepayment charges or floating-rate resets.
On a loan of ₹30,00,000, at an assumed 8.5% annual interest rate over a 20-year tenure — this illustration shows a monthly EMI of ₹26,035, with total interest of ₹32,48,327 over the loan (total payment ₹62,48,327). This assumed rate is not a guarantee of the rate you would actually be sanctioned.
Try changing the amount, rate, or tenure to see how the EMI changes — see the Home Loan, Personal Loan, or Car Loan Calculator for a loan-type-specific version of this same tool.
Learn about this calculator
Estimates the monthly instalment (EMI), total interest, and total payment for a loan, at an assumed interest rate and tenure.
An EMI (Equated Monthly Instalment) is the fixed amount paid each month toward a loan, covering both principal and interest, until the loan is fully repaid. This calculator works for any kind of loan — home, personal, car, or otherwise — using the same standard reducing-balance formula lenders use. For loan-type-specific versions with more relevant defaults and context, see the Home Loan, Personal Loan, and Car Loan calculators.
How it works
The EMI is calculated using the standard reducing-balance formula: each month's instalment covers the interest on the outstanding balance plus a portion of the principal, with the interest portion shrinking and the principal portion growing over the loan's life, while the EMI itself stays level throughout.
What each input means
- Loan amount
- The total amount borrowed (the principal).
- Interest rate (% p.a.)
- An assumption you choose for illustration — actual rates vary by lender, loan type, and your credit profile, and are not guaranteed by this calculator.
- Loan tenure (years)
- How many years the loan is repaid over.
What the results mean
- Monthly EMI
- The fixed monthly amount this calculation shows for the entered assumptions.
- Total interest
- The total interest paid over the full tenure, at the assumed rate.
- Total payment
- The total of all EMIs paid — principal plus total interest.
Assumptions
- The interest rate stays constant at the entered value for the entire tenure — no rate resets or changes are modelled.
- Every EMI is paid on time, with no prepayments, part-payments, or missed instalments.
Limitations
- This calculator does not include processing fees, insurance premiums bundled into the loan, prepayment or foreclosure charges, or floating-rate resets — all of which can change your actual EMI or total cost.
- It does not check your loan eligibility, credit score impact, or the specific terms any lender would actually offer you.
- This is not a loan sanction, offer, or approval of any kind — it is a mathematical illustration only.
Common mistakes
- Assuming the entered interest rate is the rate you will actually be offered — lenders price loans individually based on credit profile, loan type, and market conditions.
- Forgetting that a longer tenure lowers the EMI but increases the total interest paid over the life of the loan.
Example
For example, a loan of ₹30,00,000 over 20 years at an assumed 8.5% illustrates a monthly EMI in the neighbourhood of ₹26,035, with total interest of about ₹32.5 lakh over the loan.
FAQ
Is the interest rate shown here the rate I'll actually get?
No. It's an assumption you enter for illustration — actual loan rates depend on the lender, loan type, your credit profile, and prevailing market conditions, and can differ substantially.
Does this include processing fees or other charges?
No. This calculator only computes the standard reducing-balance EMI on the principal and interest rate entered — it does not model processing fees, insurance, prepayment charges, or floating-rate resets.
Does a longer tenure always cost less?
No — a longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan, since interest accrues for longer.
For a version of this calculator with defaults matched to your loan type, see the Home Loan, Personal Loan, or Car Loan Calculator.
For illustration only. Not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Returns assumed are hypothetical and not guaranteed.