Enter your loan amount, interest rate, and tenure to calculate your monthly installment and total interest.
This is an estimate based on standard reducing-balance EMI calculation. Actual terms from a lender may differ based on fees, processing charges, and exact rate compounding.
An EMI, or Equated Monthly Installment, is the fixed monthly payment used to repay a loan over its agreed term — a structure used for home loans, car loans, personal loans, and most other installment-based borrowing. Each EMI payment covers a mix of principal repayment and interest, with the interest portion typically higher in early payments and gradually decreasing as the outstanding principal shrinks, a structure known as reducing-balance amortization.
This calculator uses the standard reducing-balance EMI formula, the same method used by most banks and lending institutions, to compute your fixed monthly payment from three inputs: the loan amount (principal), the annual interest rate, and the loan tenure. Alongside the monthly EMI figure, it also shows total interest paid over the life of the loan and the total amount repaid (principal plus interest combined) — both useful for understanding the true cost of borrowing beyond just the monthly number.
It's used by anyone comparing loan offers from different lenders, evaluating whether a monthly payment fits their budget before applying, or simply understanding how much a loan will actually cost once interest is factored in over its full term. Since actual loan agreements can include processing fees, insurance add-ons, or different compounding conventions, this figure is a close estimate intended for planning purposes — always confirm exact terms directly with your lender before signing.