What is EMI?
An EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to a lender until a loan is fully repaid. Each EMI covers a portion of interest and a portion of principal — the split shifts toward principal as the loan ages.
Formula
The standard amortizing-loan formula:
EMI = P × r × (1 + r)^n / [(1 + r)^n − 1] P = loan principal r = monthly interest rate (annual rate ÷ 12 ÷ 100) n = total months (tenure in years × 12)
How to use this calculator
Enter the loan amount, annual interest rate (as offered by your bank) and tenure in years. The monthly EMI updates live. Compare scenarios by adjusting any field — the principal-vs-interest bar shows how much of the total you actually pay as interest.