Calculators · FREE

EMI Calculator

Estimate a monthly loan instalment. Processing for supported tools happens locally in your browser.

Estimate only; lender fees, taxes and terms may change actual payments.

About EMI Calculator

Use this browser-based utility for everyday tasks. Review output before relying on it and retain a copy of important originals.

Read the EMI Calculator guide →

About EMI Calculator

An EMI (equated monthly instalment) estimate helps compare a fixed-rate loan’s monthly payment with a household budget. Enter the amount borrowed, annual rate, and term to see a standard amortizing-payment estimate.

How to use EMI Calculator

  1. Enter the principal or loan amount.
  2. Enter the annual interest rate as a percentage.
  3. Enter the repayment term in years.
  4. Select Calculate to view the estimated monthly payment, total repaid, and interest amount.
  5. Compare estimates using lender-provided fees and terms before making a decision.

Using an estimate to decide

A good rule is to check that the monthly instalment is a comfortable part of your regular income, and to compare several terms. A longer term makes the instalment smaller and the total interest bigger. Ask the lender for the real schedule, because fees, insurance, a changing rate and special rules for Islamic financing can change the real cost, and a bank's figure may differ from this estimate.

Frequently asked questions

How is EMI calculated?

EMI = P x r x (1 + r)^n divided by ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of months. The result is an estimate, and your lender may add fees.

Is EMI the same as a monthly loan payment?

Yes. EMI means equated monthly instalment, an equal payment each month.

Does it include processing fees?

No. Add fees and insurance from the lender's offer.

What happens at 0 percent interest?

The amount is divided equally over the months.

More Calculators tools

Want more detail, examples and answers to common questions? Read the EMI Calculator guide.

About EMI Calculator

An EMI (equated monthly instalment) estimate helps compare a fixed-rate loan’s monthly payment with a household budget. Enter the amount borrowed, annual rate, and term to see a standard amortizing-payment estimate.

How to use EMI Calculator

  1. Enter the principal or loan amount.
  2. Enter the annual interest rate as a percentage.
  3. Enter the repayment term in years.
  4. Select Calculate to view the estimated monthly payment, total repaid, and interest amount.
  5. Compare estimates using lender-provided fees and terms before making a decision.

Using an estimate to decide

A good rule is to check that the monthly instalment is a comfortable part of your regular income, and to compare several terms. A longer term makes the instalment smaller and the total interest bigger. Ask the lender for the real schedule, because fees, insurance, a changing rate and special rules for Islamic financing can change the real cost, and a bank's figure may differ from this estimate.

Frequently asked questions

How is EMI calculated?

EMI = P x r x (1 + r)^n divided by ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of months. The result is an estimate, and your lender may add fees.

Is EMI the same as a monthly loan payment?

Yes. EMI means equated monthly instalment, an equal payment each month.

Does it include processing fees?

No. Add fees and insurance from the lender's offer.

What happens at 0 percent interest?

The amount is divided equally over the months.

More Calculators tools

Want more detail, examples and answers to common questions? Read the EMI Calculator guide.