Calculate loan EMI
Monthly EMI, total interest, total payment.
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About this tool
Enter the loan amount, annual interest rate and tenure, and see the monthly EMI, the total interest you will pay over the life of the loan, and the total outflow, updated live as you adjust the numbers.
It uses the standard reducing-balance formula every bank uses, which makes it the honest way to compare offers: change the tenure and watch the interest total move. The numbers you type never leave your device.
How it works
- Type an amount and pick your currencies.
- The result updates live as you type.
- Swap the direction with one click.
Frequently asked questions
How is EMI calculated?
With the reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly interest rate and n the number of months. This is the same formula banks use.
Why is the total interest so much more than I expected?
Long tenures multiply interest. A 10 lakh loan at 9% costs about 8,997 per month over 20 years, but nearly 11.6 lakh in interest, more than the loan itself. Shortening the tenure raises the EMI but cuts the total dramatically, and this calculator lets you watch that trade-off live.
Does this include processing fees and insurance?
No, it shows the pure EMI math. Banks typically add a one-time processing fee (often 0.5 to 1%) and may bundle insurance, so treat those as extras on top when comparing offers.