Loan planning tool
Estimate your monthly loan payment, total interest, and repayment schedule before you borrow.
Repayment summary
Your EMI breakdown will appear here
Enter the loan amount, annual interest rate, and repayment tenure.
Loan guide
Use the EMI formula and practical repayment guidance to compare loans more confidently.
EMI formula
P
Loan principal
r
Monthly rate
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Payments
The monthly rate is the annual percentage rate divided by 12 and then by 100. This estimate does not include processing fees, insurance, taxes, or lender-specific charges.
Better borrowing
Compare the total interest
A lower EMI can still cost more when the tenure is longer.
Make principal prepayments
Reducing the balance early can save more future interest.
Keep EMI affordable
Leave room in your budget for emergencies and rate changes.
Helpful answers
EMI stands for Equated Monthly Instalment. It is the fixed amount paid to a lender each month and normally includes both principal repayment and interest.
EMI is calculated from the loan principal, monthly interest rate, and number of monthly payments. A reducing-balance formula is used so the interest portion falls as the outstanding balance decreases.
A longer tenure usually lowers the monthly EMI, but it also increases the total interest paid over the life of the loan. Compare both affordability and total cost before choosing.
For the same principal and tenure, a higher interest rate increases both the EMI and total interest. Floating-rate loans may change their EMI or tenure when benchmark rates move.
Yes. A principal prepayment reduces the outstanding balance on which future interest is calculated. Check whether your lender applies prepayment charges or restrictions.
An amortization schedule shows how every payment is divided between principal and interest, along with the outstanding loan balance after each payment.