How to use the EMI & Loan Calculator
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the principal, r the monthly interest rate and n the number of months.
Results are estimates. Lenders may add processing fees, insurance or use different compounding.
Frequently asked questions
What is EMI?
An equated monthly instalment — the fixed monthly payment that repays a loan with interest over its term.
Does a longer tenure reduce cost?
It lowers the monthly EMI but increases the total interest paid.