Finance
EMI Calculator
- Browser-based
- No signup
Browser-based
Enter loan amount, annual interest rate, and tenure in years or months to calculate monthly EMI, total interest, and total amount payable, with a principal versus interest breakdown.
EMI results assume fixed interest and equal installments. Processing fees, insurance, and floating rates are not modeled.
How to use this tool
1. Enter loan principal, annual interest rate, and tenure in months. 2. Click Calculate EMI. 3. Review monthly installment, total interest, and total payment. 4. Adjust tenure or rate to compare scenarios.
Worked example
Example: ₹10,00,000 at 9% for 20 years (240 months) often lands near ₹9,000/month EMI before fees—your lender’s schedule may differ.
How it works
The EMI calculator uses the standard equated monthly installment formula to estimate your monthly payment, total interest, and total amount payable. It converts the annual rate to a monthly rate. Fees and taxes are not included.
Limitations
EMI results assume fixed interest and equal installments. Processing fees, insurance, and floating rates are not modeled.
Privacy and file handling
Your data is processed in your browser and is not uploaded to our server.
Accuracy & methodology
This section documents how the calculator works, what it leaves out, and when results were last reviewed. Figures are educational estimates—not professional advice—and are not labeled "current" unless tied to automatically updated reference data.
- Formula source or methodology
- Equated monthly installment (EMI) formula: P × r × (1+r)^n / ((1+r)^n − 1), where r = annual rate ÷ 12 and n = months.
- Jurisdiction
- India / general EMI convention (not lender-specific)
- Unit system
- INR or other currency as entered; rate % per year; tenure in months or years
- Rounding method
- Currency amounts round to two decimal places (half up via Math.round × 100 / 100).
- Assumptions
- Fixed interest rate; monthly rest
- Disbursement at loan start; EMI paid monthly in arrears
- Known omissions
- Not tax, legal, investment, or lending advice. Confirm material decisions with qualified professionals.
- Processing fees, GST on fees, and insurance premiums
- Floating / MCLR / repo-linked rate resets
- Moratorium or step-up EMI structures
- Test cases (automated)
- Standard principal, rate, and tenure return EMI greater than zero
- Invalid tenure or rate returns an error
- Version & last verified
Logic version 1.0. Content and formulas last verified .
Frequently asked questions
What is EMI?
EMI stands for Equated Monthly Installment. It is a fixed monthly payment that covers both principal and interest over the loan tenure.
How is EMI calculated?
EMI uses the standard formula based on loan amount, monthly interest rate, and number of monthly payments for the selected tenure.
Does this include fees or taxes?
No. Results are estimates based only on loan amount, interest rate, and tenure. Processing fees, insurance, and taxes are not included.
Part of these workflows
This tool is one step in a longer job. Follow a workflow guide to see what to do before and after.
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