EMI Calculator
Calculate your monthly EMI for home loan, car loan, or personal loan
Enter Details
₹
% p.a.
In years
Results
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Enter loan details and click Calculate.
Formula
EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
- P (₹) — Principal loan amount
- r (–) — Monthly rate = annual rate ÷ 12 ÷ 100
- n (months) — Loan tenure in months
Example: ₹20 L loan at 8.5% for 20 years → EMI ≈ ₹17,356/month
Interpreting Your Result
EMI/Income < 30%
Comfortable
Well within servicing capacity
EMI/Income 30–40%
Manageable
Leave room for other expenses
EMI/Income > 50%
Stretched
Risk of financial stress
Frequently Asked Questions
How is EMI calculated?
Using the reducing balance method: EMI = [P × r × (1+r)ⁿ] ÷ [(1+r)ⁿ − 1]. Early EMIs are mostly interest; later ones are mostly principal.
Does prepayment reduce EMI or tenure?
Most banks let you choose. Reducing tenure saves more total interest. Reducing EMI improves monthly cash flow.
What is a good EMI-to-income ratio?
Keep total EMIs below 40–50% of take-home pay. Home loan EMI alone should ideally stay below 30%.