Free online calculator · India

Loan EMI Calculator

Estimate monthly loan EMI, total interest and repayment from principal, annual rate and tenure.

What this calculator does

Estimate a fixed monthly instalment for a reducing-balance loan. Actual lender schedules may differ because of fees, rate resets, insurance, payment dates and rounding.

How to use it

Enter principal
annual interest rate
tenure in years
review EMI, total repayment and estimated interest.

Calculate now

Formula and calculation method

Monthly rate r = annual rate ÷ 12 ÷ 100; n = years × 12. EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). At 0% interest, EMI = P ÷ n.

Worked example

For a ₹5,00,000 loan at 10% annually over 5 years, the calculator applies a monthly rate of 10% ÷ 12 and 60 instalments.

Important information

The result is an estimate, not a loan offer or approval. Lenders may apply processing fees, insurance, variable rates and different day-count conventions.

Frequently asked questions

How accurate is this calculator?

It provides an estimate based on the values and assumptions entered. Verify important decisions with the relevant provider or a qualified professional.

Does this replace professional advice?

No. It is an informational tool and does not replace tax, legal, accounting, lending, investment or medical advice.

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Results are estimates based on entered values and assumptions. They are not professional advice. Verify important decisions with the relevant provider or a qualified professional.