Loan EMI Calculator

Our EMI calculator helps you estimate your monthly loan payments based on loan amount, interest rate, and tenure. Use this tool to plan your home loan, car loan, personal loan, or education loan repayments.

Calculate Your EMI

₹5,00,000
10%
5 years

Loan EMI Breakdown

Monthly EMI: ₹0
Total Interest: ₹0
Total Payment: ₹0

Understanding EMI Calculations

What is EMI?

EMI (Equated Monthly Installment) is the fixed payment amount you pay to the lender each month until your loan is fully repaid. It consists of both principal and interest components.

How is EMI Calculated?

The EMI calculation uses the following formula:

EMI = [P × r × (1+r)^n] / [(1+r)^n-1]

Where:
P = Principal loan amount
r = Monthly interest rate (annual rate divided by 12)
n = Loan tenure in months

Tips for Loan Planning

  • Shorter tenure means higher EMI but lower total interest
  • Longer tenure reduces EMI but increases total interest paid
  • Consider prepayment options to reduce interest burden
  • Compare loans from multiple lenders for best interest rates
  • Maintain a good credit score for better loan terms

Types of Loans You Can Calculate

This calculator works for various loan types:

  • Home Loans: Typically 15-30 years tenure
  • Car Loans: Usually 3-7 years tenure
  • Personal Loans: Normally 1-5 years tenure
  • Education Loans: Often 5-10 years repayment period
  • Business Loans: Varies by lender and purpose

Disclaimer: This calculator provides approximate values based on the inputs provided. Actual loan terms may vary depending on the lender's policies, processing fees, prepayment charges, and your credit profile. The results should be used for estimation purposes only.