How is EMI calculated?

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n the number of months.

Does this work for any currency?

Yes. The maths is the same for rupees, dollars, pounds or any other currency.

Choose a longer tenure, negotiate a lower rate or make a bigger down payment. A longer tenure lowers the EMI but raises the total interest.

EMI calculator

See your monthly instalment, the total interest and the total you will repay for any loan.

Loan amountInterest rate (per year)%Tenure

Monthly EMI

13,215.07

Total interest

585,808.84

37% of everything you pay

Total payment

1,585,808.84

Green is the amount you borrow, red is the interest. Works in any currency. Banks may add processing fees.