The method
How it is worked out
EMI = P × i × (1+i)N ÷ ((1+i)N − 1)
- P
- Loan principal
- i
- Monthly interest rate
- N
- Number of monthly payments
EMI Calculator
Calculate an equated monthly instalment (EMI), total interest and total repayment for a fixed-rate loan. The result updates as you type so you can compare scenarios quickly.
Keep in mind
What it leaves out
- FeesUpfront and ongoing lender fees are not included.
- Variable ratesThe calculation assumes one fixed rate.
- RoundingA lender may round instalments differently.
Use the calculator to compare scenarios rather than as a guaranteed forecast.
About the EMI Calculator
An equated monthly instalment, or EMI, is the regular amount due on a fixed-rate loan. Use this tool when a lender quotes a principal, annual interest rate and term but you want to know how those figures translate into a monthly commitment and total borrowing cost.
How it works and an example to tryShow less
How to use the result
The monthly interest rate is applied to the outstanding loan and the balance is repaid over the chosen number of months using a standard amortisation formula. Earlier payments contain more interest; later payments reduce more principal. The estimate assumes the same rate for the full term and does not incorporate lender fees or a balloon payment.
Example to try
Model a three-year personal loan, then increase the term while leaving the principal and rate unchanged. The monthly EMI should fall, but the total interest usually rises. Use both figures to decide whether a smaller monthly bill justifies paying for longer.
Put it to work
Try it on a real situation
Load an example
What moves the result most
Worked out from your figures above. Tap a row to try it.
Who uses it, and when
Borrowers in markets where lenders quote an EMI rather than an APR, people comparing personal loans from several banks, and anyone checking a lender's quoted instalment against the maths. Finance teams use it to sense-check vehicle and equipment loans.
Mistakes worth avoiding
- Treating a lower EMI as a cheaper loan when it simply reflects a longer term.
- Forgetting processing fees and insurance the lender adds to the principal.
- Overlooking that early instalments are mostly interest, so settling early saves less than expected.
Questions
What does the EMI Calculator do?
Calculate an equated monthly instalment (EMI), total interest and total repayment for a fixed-rate loan.
How should I use the result?
The monthly interest rate is applied to the outstanding loan and the balance is repaid over the chosen number of months using a standard amortisation formula. Earlier payments contain more interest; later payments reduce more principal. The estimate assumes the same rate for the full term and does not incorporate lender fees or a balloon payment.
Does TechBullion store the information I enter?
The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.
What mistakes do people make with an emi calculator?
Treating a lower EMI as a cheaper loan when it simply reflects a longer term. Forgetting processing fees and insurance the lender adds to the principal. Overlooking that early instalments are mostly interest, so settling early saves less than expected.
Is the result guaranteed?
No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.
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Calculator results are estimates based on the figures entered and are not financial, investment, legal or tax advice.