Tools / EMI calculator
Work out an EMI.
Loan, rate and tenure in. EMI out.
Uses the standard formula banks use, with interest worked out each month on what is still owed: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the yearly rate ÷ 12. Banks may round the EMI, charge fees, or count the first month differently, so their figures can differ slightly.
Worked out in your browser. Nothing you type is sent anywhere.
How to use it
- Type the loan amount and the yearly interest rate.
- Type the tenure in years or months.
- Read the EMI. Open Year-by-year schedule to see how the balance falls.
Questions
How is the EMI worked out?
With the standard reducing-balance formula banks use: interest is charged each month on the balance still owed, and every EMI is the same.
Why is my bank’s EMI slightly different?
Banks may round the EMI up to the rupee, add fees or insurance, or charge broken-period interest for the first month.
Is what I type sent anywhere?
No. It's worked out in your browser. Nothing you type leaves your device.