₹10K₹2 Cr
1%30%
1 yr30 yrs
Monthly EMI
₹0
Principal amount₹0
Total interest₹0
Total payment₹0
How is EMI calculated?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay your lender every month until the loan is fully repaid. Each EMI covers part of the interest and part of the principal.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P is the loan amount (principal).
- r is the monthly interest rate: annual rate ÷ 12 ÷ 100.
- n is the number of monthly instalments.
Tips to lower your EMI
A longer tenure lowers your monthly EMI but increases the total interest you pay. A larger down payment or a lower interest rate reduces both. Try different values in the calculator above to find the balance that suits your budget.