Period in
Monthly EMI
₹8,678.23
Total interest
₹10,82,775.76
Total payment
₹20,82,775.76
Based on a reducing balance with monthly payments. Banks may add fees, so your lender's figure can differ slightly.
About EMI Calculator
EMI Calculator finds the monthly payment for a loan from the amount, the yearly interest rate and the period. It shows the total interest and a month by month schedule.
Read the guide: How to Calculate Loan EMI: Formula, Example and Tips →
Tips for best results
- A shorter period means a bigger EMI but much less interest.
- Compare rates from two banks before you decide.
- Processing fees and insurance are not included.
How to use EMI Calculator
- 1
Enter the loan details
Amount, yearly interest rate and period.
- 2
Read the EMI
See the monthly payment, total interest and total payment.
- 3
Open the schedule
Turn on the month by month table.
Frequently asked questions
Which method does it use?
A reducing balance loan with equal monthly payments.
Will my bank show the same figure?
It should be very close. Fees and rounding can cause small differences.
Is my data stored?
No. This tool runs inside your browser, so your data is processed on your own phone or computer and is not sent to our servers.