EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan. See the complete payment breakdown including total interest.
EMI Details
Monthly EMI
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Total Amount
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Total Interest
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Principal
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Interest %
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What is EMI?
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender on a specified date each month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
Formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ – 1)
Frequently Asked Questions
Is EMI the same as loan payment?
EMI is a specific type of equal monthly loan payment popular in South Asia. It is essentially the same as a standard amortized loan payment — each payment covers accrued interest plus some principal reduction.
How can I reduce my EMI?
You can reduce your EMI by: (1) making a larger down payment to reduce the principal, (2) negotiating a lower interest rate, or (3) extending the loan tenure — though a longer tenure means more total interest paid.