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EMI Calculator
Estimate the equal monthly instalment for a loan along with the total interest you would pay over the tenure.
Calculate monthly loan payments and total interest.
Free to run · to save projections to your live dashboard
Enter values and click Calculate to see results
Worked example
Calculated by the same engine as the calculator above.
- Inputs
- Loan Amount
- ₹25,00,000
- Interest Rate (% p.a.)
- 8.5
- Loan Tenure (Years)
- 20
- Result
- Monthly EMI
- ₹21,696
- Total Interest
- ₹27,06,939
- Total Payment
- ₹52,06,939
Formula
EMI = P × i × (1 + i)^n / ((1 + i)^n - 1)
- P = loan amount (principal)
- i = annual interest rate / 12 / 100 (monthly rate)
- n = tenure in years × 12 (number of monthly instalments)
- Total payment = EMI × n; total interest = total payment - P
Assumptions
- Uses the standard reducing-balance EMI formula with a fixed interest rate for the whole tenure.
- Interest is charged monthly at the annual rate divided by 12.
- Processing fees, GST on charges, insurance and prepayments are not included.
- At a 0% rate the EMI is simply the loan amount divided by the number of months.
- Educational estimate only, not financial advice. Capitallytics does not execute transactions.
EMI Calculator FAQ
Answers about how this calculator works.
How is EMI calculated?
EMI = P × i × (1 + i)^n / ((1 + i)^n - 1), where P is the loan, i the monthly rate and n the number of months. Each EMI covers that month's interest and repays part of the principal.
Why is most of the early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As principal is repaid, the interest share falls and the principal share rises.
Does a longer tenure reduce the total cost?
No. A longer tenure lowers the EMI but increases total interest paid. Try a few tenures to see the trade-off.
Are processing fees included in the EMI?
No. The EMI covers principal and interest only. Fees, insurance and taxes on charges are extra.