EMI Calculator
Estimate monthly EMI, total interest and total repayment from the loan amount, annual interest rate and tenure.
Loan estimate
How EMI is calculated
The standard reducing-balance formula uses principal, the monthly interest rate and the number of monthly instalments. Each payment contains interest and principal. Early instalments usually contain more interest because the outstanding balance is higher; the principal share grows as the balance falls.
Example: reading the total cost
A ₹5 lakh loan over five years at 9% does not cost only ₹5 lakh. The monthly result should be considered together with total interest and total repayment. Processing fees, insurance, taxes, late fees and rate resets are outside this estimate and can change the real cost.
Fixed and floating rates
A fixed-rate loan aims to keep the contracted rate stable for the fixed period. A floating-rate loan can change when its benchmark resets. If the rate rises, the lender may change the EMI, tenure or both. Ask for the benchmark, spread, reset frequency and an updated amortisation schedule.