How to Calculate EMI and Loan Payments
Break down the EMI formula and use our calculator to plan any loan with confidence.
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay each month to repay a loan, covering both principal and interest. Knowing your EMI upfront helps you budget and compare loan offers.
The EMI formula
EMI = [P × r × (1 + r)ⁿ] / [(1 + r)ⁿ − 1], where P is the principal, r is the monthly interest rate, and n is the number of months.
Calculate yours in seconds
- Open the EMI Calculator.
- Enter the loan amount, interest rate and tenure.
- See your monthly EMI, total interest and total payment.
- Adjust the values to compare scenarios.