Free Tool
EMI Calculator
Plan your repayment before you apply. Adjust the sliders to see your monthly EMI instantly.
Loan Amount₹2,00,000
₹10K₹50L
Interest Rate (% p.a.)14%
8%36%
Loan Tenure (months)24 mo
3 mo360 mo
Monthly EMI
₹9,603
for 24 months
Principal — ₹2,00,000
Interest — ₹30,462
Principal Amount₹2,00,000
Total Interest₹30,462
Total Payable₹2,30,462
How is EMI Calculated?
Your Equated Monthly Instalment (EMI) is calculated using the standard reducing balance formula.
Formula:
EMI = [P × R × (1+R)ⁿ] / [(1+R)ⁿ - 1]
P
Principal Amount
Loan amount you borrow
R
Monthly Interest Rate
Annual rate ÷ 12 ÷ 100
n
Number of Months
Tenure in months
Higher credit score = Lower interest rate
Maintain a CIBIL score above 750 for the best loan rates.
Shorter tenure = Less total interest
Choose the shortest tenure you can comfortably afford.
Prepayment reduces interest
Making extra payments reduces your outstanding principal faster.