Plan your loan.
Know your EMI.
Explore how your loan amount, interest rate and repayment period affect your monthly instalment. Find a balance that fits your budget.
Your loan, your numbers
Move the sliders or enter your own values.
For a constant rate and equal monthly repayments
Illustrative estimate only, not a loan offer or approval. Processing fees, insurance, taxes and other charges are excluded. Actual lender calculations, rounding and repayment dates may differ. Default values do not represent an offered interest rate.
Understand where your money goes
The amount you borrow
Change the loan amount to compare the monthly commitment for different borrowing needs.
The cost of borrowing
Enter the annual rate you want to test. The calculator applies interest to the reducing loan balance.
Your repayment period
At the same positive rate, a longer tenure lowers the EMI but increases the total interest paid.
Your yearly repayment breakdown
Each year represents 12 instalments from the start of the loan. The final year may contain fewer months.
| Loan year | Principal paid | Interest paid | Balance remaining |
|---|
A simple example
For an illustrative loan of ₹10 lakh at 10% annually over 5 years, the monthly EMI is approximately ₹21,247. Try changing the tenure above to compare the EMI and total interest.
Questions before you calculate?
What is an EMI?
An Equated Monthly Instalment is a regular monthly loan repayment. In this calculator, each payment includes principal and interest. As the balance reduces, the interest portion decreases.
How is the EMI calculated?
EMI = P × r ÷ [1 − (1 + r)−n], where P is the loan amount, r is the annual percentage rate divided by 1,200, and n is the number of monthly instalments. At 0% interest, EMI = P ÷ n.
Can I enter the tenure in months?
Yes. Select Months to enter an exact number of instalments. For example, 18 months represents one and a half years.
Does this include fees or changes in interest rates?
No. The estimate assumes a constant annual rate, monthly repayments and no extra fees or prepayments. A floating-rate loan or a different repayment arrangement can produce different results.
Does this estimate confirm my loan eligibility?
No. This calculator only estimates repayments from the numbers you enter. Eligibility, pricing and approval are determined separately by the lender.