Calculate your monthly EMI, total interest and total payable amount instantly. Adjust the sliders to plan your loan.
Principal and interest paid each year, with the outstanding balance.
| Year | Principal (₹) | Interest (₹) | Total Paid (₹) | Balance (₹) |
|---|
EMI stands for Equated Monthly Instalment — the fixed amount you pay your lender every month until your loan is fully repaid. Each EMI has two parts: the principal (the amount you borrowed) and the interest (the cost of borrowing). In the early months a larger share of your EMI goes towards interest, and over time more of it goes towards repaying the principal.
EMI is calculated using a standard reducing-balance formula:
Where P = loan amount (principal), R = monthly interest rate (annual rate ÷ 12 ÷ 100), and N = loan tenure in months. Our EMI calculator applies this formula instantly as you type or drag the sliders, and also shows your total interest, total payable amount and a year-wise repayment schedule.
Use this calculator to plan the EMI for a personal loan, home loan, business loan, loan against property, used car loan or overdraft facility. Once you know your EMI, request a free callback and our experts will match you with the lender offering the lowest rate for your profile.
EMI is calculated using the formula EMI = P × R × (1+R)^N / ((1+R)^N − 1), where P is the loan amount, R is the monthly interest rate, and N is the number of monthly instalments. Our calculator does this automatically.
Total interest is the extra amount you pay over and above the principal across the full loan tenure. Total payable amount = principal + total interest.
Yes. A longer tenure spreads repayment over more months, lowering the monthly EMI — but you end up paying more total interest. A shorter tenure raises the EMI but reduces total interest.
Yes, the Loan On Call EMI calculator is completely free, with no login required. You can calculate the EMI for any loan as many times as you like.
The calculator gives an accurate estimate based on the values you enter. Your final EMI depends on the interest rate the lender offers for your profile. Request a callback and we will help you get the best possible rate.