Calculate Equated Monthly Installment for home, vehicle, or business loans (India). See total interest and payoff amount.
What it does
Computes monthly EMI from loan principal, annual interest rate, and tenure in years using the standard reducing-balance formula.
Why it matters
Seeing EMI alongside total interest helps you compare loan offers and understand the full cost of borrowing before you commit.
Definition
EMI (Equated Monthly Installment) is a fixed payment each month that covers interest and principal for a typical fixed-rate amortizing loan.
Assumptions
How to interpret your results
If EMI feels high, try a longer tenure (more total interest) or a lower rate. Prepayments reduce principal and future interest.
How to improve
Shop the annual rate
Small rate differences change total interest a lot on long home loans.
Use part-prepayment
Paying extra principal early reduces interest on the reducing balance.