What is EMI Calculator?
Find out what a loan will actually cost you each month — and in total. Enter the amount, interest rate and tenure to see your EMI along with how much of your repayment is principal versus interest, which is often the more revealing number.
How to use EMI Calculator
- Enter the loan amount you plan to borrow.
- Set the annual interest rate offered by your lender.
- Choose the tenure in years.
- Read your monthly EMI, total interest payable and total amount, plus the principal-to-interest split.
Why use this tool?
See the true cost of borrowing
On a long home loan the total interest can approach or exceed the amount borrowed. Seeing that number before signing changes decisions.
Compare offers quickly
Adjust the rate or tenure to compare lenders, or to see how much a shorter tenure would save you overall.
Frequently asked questions
How is EMI calculated?
The standard formula is EMI = P×r×(1+r)ⁿ / ((1+r)ⁿ−1), where P is the principal, r the monthly interest rate (annual ÷ 12 ÷ 100) and n the number of monthly instalments.
Does a longer tenure make a loan cheaper?
It lowers the monthly EMI but increases the total interest paid, often substantially. Try both in the calculator to see the trade-off for your own numbers.
Is this tool really free?
Yes, completely free with no limits, no watermarks, no account and no trial period. Because everything runs on your own device, there are no server costs to pass on to you.