EMI Calculator
Work out the monthly instalment, the total interest and the true cost of a loan before you apply — for any amount, rate and tenure.
- Principal amount₹0
- Total interest payable₹0
- Total amount payable₹0
Indicative only. The figures assume a fixed reducing-balance rate and equal monthly instalments, and exclude processing fees, GST, stamp duty and insurance. Your actual EMI is confirmed in the Key Fact Statement issued with your sanction letter.
How an EMI is actually calculated
Every reducing-balance loan in India uses the same formula. Knowing it means no lender can surprise you.
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)
- P — principal, the amount actually disbursed to you
- r — monthly rate, i.e. the annual rate ÷ 12 ÷ 100
- n — tenure in months
On a ₹5,00,000 loan at 13.5% for 36 months, the EMI works out to ₹16,968 and the total interest to ₹1,10,835 — roughly 22% of the amount borrowed. Stretching the same loan to 60 months drops the EMI to ₹11,505 but pushes total interest to ₹1,90,295. A longer tenure is not cheaper; it is only lighter each month.
What this calculator does not include
- Processing fee, which is deducted from the disbursal, so you receive less than the sanctioned amount
- GST at 18% on every fee and charge
- Stamp duty on the loan agreement, which varies by state
- Insurance premium, if you choose to bundle credit-life cover — always optional, never a condition of sanction
- Penal charges if an instalment is missed or dishonoured
Ask any lender for the Annual Percentage Rate (APR), not just the interest rate. The APR folds the processing fee and other mandatory charges into a single comparable number, and every regulated lender must disclose it in the Key Fact Statement.
Happy with the numbers?
Apply with the same amount and tenure you just modelled. Your indicative offer is generated in minutes and does not affect your credit score until you accept.