EMI Calculator
Enter the loan amount, yearly interest rate and time. See your monthly EMI, total interest and total payment.
How to use
- Type the loan amount.
- Type the interest rate per year.
- Type the time and pick years or months.
- Read the EMI below.
The bank's final EMI can differ slightly because of processing fees and rounding. Use this as a quick estimate.
Questions and answers
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan, r the monthly rate and n the number of months.
Does it include processing fees?
No. It shows the EMI for the loan amount and rate only.
Can I use it for an education loan?
Yes. It works for any loan with a fixed rate.
Is this tool free?
Yes. It is free, needs no sign-up and has no daily limit.