EMI Calculator

Plan your loan repayment by calculating your monthly EMI, total interest, and total payment amount.

Loan Amount

Rs.

50K1 Cr

Interest Rate (p.a.)

7%24%

Loan Tenure

months

6 months30 years

Monthly EMIRs. 21,494

Principal

Rs. 10,00,000

Total Interest

Rs. 2,89,634

Total PaymentRs. 12,89,634

How is EMI Calculated?

EMI (Equated Monthly Instalment) is calculated using the following formula:

EMI = P x R x (1+R)^N / [(1+R)^N - 1]

P = Principal loan amount

R = Monthly interest rate (annual rate divided by 12 and then by 100)

N = Loan tenure in months

For example, if you take a loan of Rs 5,00,000 at 10.5% annual interest for 3 years (36 months), your monthly EMI would be approximately Rs 16,253. The total interest paid over the loan tenure would be Rs 85,108, making your total repayment Rs 5,85,108.

Note: The actual EMI may vary slightly based on the lender's calculation method, processing fees, and other applicable charges.