Use this EMI calculator to find your monthly loan payment, total interest, and check if your EMI is affordable based on your income.
Also known as: loan EMI calculator, interest calculator, monthly EMI calculator
EMI (Equated Monthly Installment) is the fixed monthly amount you pay to repay a loan. It includes both the principal amount and interest.
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where P = loan amount, R = monthly interest rate, N = number of months
A safe EMI is usually less than 30–40% of your monthly income. If your EMI is too high, it may create financial stress.
For a ₹5,00,000 loan at 10% interest for 5 years, your EMI will be around ₹10,624 per month.
Is this EMI calculator free?
Yes, it is completely free to use.
Does it work for all loans?
Yes, you can calculate EMI for home, car, personal, and other loans.
Can I trust this calculation?
Yes, it uses the standard EMI formula used by banks.