EMI Calculator
Plan your loans better by calculating monthly repayments, total interest, and total cost of the loan.
Your inputs
Your estimate
Monthly EMI
₹12,399
Estimates use your inputs and assumed returns. Actual returns vary and are not guaranteed.
Quick answer
An EMI calculator shows your fixed monthly loan payment. A ₹50 lakh home loan at 8.5% for 20 years costs about ₹43,391 a month, and about ₹54.14 lakh in total interest.
About the EMI Calculator
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender each month. EMIs pay off both interest and principal so that over the loan tenure, the loan is fully repaid.
What is the formula?
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is the loan, r is the monthly interest rate and n is the number of months.
Worked example
On ₹50,00,000 at 8.5% for 240 months, the EMI is about ₹43,391. You repay about ₹1.04 crore in total, so interest is more than the loan itself.
Frequently asked questions
What factors affect my EMI?
The principal loan amount, the interest rate, and the loan tenure are the three primary factors.
Can I reduce my EMI?
Yes, by choosing a longer tenure or by making a higher down payment to reduce the principal.
Related guides
Reviewed by Vikas Gupta, AMFI-registered Mutual Fund Distributor (ARN-178652). Last updated . Mutual fund investments are subject to market risks, read all scheme related documents carefully. Mutual fund distribution by Korlipara Vikas Gupta, AMFI-registered Mutual Fund Distributor, ARN-178652. Distributors earn commission from fund houses on regular plans. Content and calculators on this site are for education, not personalised investment advice. Illustrations use assumed returns, which are not guaranteed.