A EMI calculator is a free online tool that gives you instant results without any signup or fees. It covers equated monthly instalment, home loan EMI, car loan calculator and more — all in one place.
Home Loan EMI Calculator
Calculate your home loan EMI for any loan amount, interest rate and tenure. See total interest, total payment and monthly EMI instantly.
Car Loan EMI Calculator
Find your car loan EMI in seconds. Enter loan amount, bank interest rate and repayment period to get exact monthly payment.
Personal Loan EMI Calculator
Personal loan interest rates range from 10.5% to 24% in India. Use the EMI calculator above to compare EMI at different rates.
EMI Formula Explained
EMI = P x r x (1+r)^n / [(1+r)^n - 1]. P = principal, r = monthly rate, n = months. The calculator above uses this exact formula.
How to Reduce EMI
Three ways to lower EMI: increase down payment, negotiate lower rate, or extend tenure. Use the EMI calculator to compare scenarios.
Frequently Asked Questions
What is EMI calculator?
An EMI calculator computes your monthly loan payment based on principal amount, interest rate and loan period. It shows total interest paid and total amount payable over the loan term.
How is EMI calculated?
EMI = P x r x (1+r)^n divided by [(1+r)^n - 1]. P is loan amount, r is monthly interest rate (annual rate divided by 12 divided by 100), n is number of months.
What is the EMI for Rs 10 lakh loan at 10%?
For a Rs 10 lakh loan at 10% per year for 5 years, the monthly EMI is Rs 21,247. Total interest paid is Rs 2,74,820. Use the calculator above to try different amounts.
Does EMI change with floating interest rate?
Yes. A floating rate EMI changes when the bank revises the rate based on RBI repo rate changes. When rates rise, your EMI goes up or tenure extends depending on your bank's policy.
What is the EMI for home loan of 50 lakhs?
For Rs 50 lakh home loan at 8.5% for 20 years, monthly EMI is Rs 43,391. Total payment is Rs 1.04 crore. Enter your exact amount in the EMI calculator above for precise results.