14 categories
See all →

EMI Calculator

Calculate your monthly loan instalment for home, car, or personal loans

₹1K₹1Cr
1%36%
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Principal Amount₹0
Total Interest₹0
Total Amount Payable₹0
Interest Percentage0%
Advertisement
Amortization Schedule
#EMIPrincipalInterestBalance
How EMI is Calculated

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Where P = Principal loan amount, R = Monthly interest rate (Annual rate ÷ 12 ÷ 100), N = Total months.

A lower interest rate and longer tenure reduces your EMI but increases total interest paid. Use the calculator to find the optimal balance.

Advertisement

What is EMI Calculator?

Free online EMI calculator for India. Calculate monthly EMI for home loan, car loan, personal loan with full amortization schedule and principal/interest breakdown. India-specific financial calculators built for the Indian tax system, RBI guidelines, and Indian banking rates. TekPulse's EMI Calculator is completely free — no signup, no ads in results, and no data stored on our servers.

How to Use EMI Calculator Online

  1. Enter the loan amount (principal) in Indian Rupees — e.g. ₹20,00,000 for a home loan
  2. Enter the annual interest rate — check your bank's current lending rate (usually 8–12%)
  3. Select the loan tenure in years (home loans up to 30 years, personal loans up to 7 years)
  4. Your monthly EMI, total interest payable, and total payment are displayed instantly
  5. View the full month-by-month amortization schedule and save or print the result

EMI Calculator Formula & Calculation

EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]

P = Principal loan amount | r = Monthly interest rate (Annual rate ÷ 12 ÷ 100) | n = Total number of monthly instalments

Example: ₹50,00,000 home loan at 8.5% p.a. for 20 years → r = 0.00708, n = 240 → EMI = ₹43,391/month. Total repayment = ₹1,04,13,840; total interest paid = ₹54,13,840.

Key Factors That Affect Your Result

  1. Principal amount — Higher loan amount increases EMI proportionally. For every ₹1 lakh extra at 8.5% over 20 years, EMI rises by ₹868.
  2. Interest rate — Even a 0.5% difference on a ₹50 lakh loan changes EMI by ₹1,700/month (₹4.08 lakh over 20 years). Always compare rates across banks before signing.
  3. Loan tenure — A 25-year tenure vs 20-year on ₹50 lakh at 8.5% cuts EMI by ₹5,600/month but adds ₹18 lakh in extra interest. Shorter tenure saves money long-term.
  4. Reducing balance vs flat rate — All Indian banks use reducing balance (standard). Flat rate EMIs (common in informal loans) cost 40–50% more in total interest on the same advertised rate.

Why Use TekPulse EMI Calculator?

Runs Entirely in Your Browser
Uses the standard reducing-balance EMI formula — your loan details are never sent to our servers
Full Amortization Schedule
See the principal/interest split for every month, up to 360 rows
Principal vs Interest Chart
A donut chart visualizes how much of your EMI goes to interest
Instant Results
EMI, total interest, and total payment recalculate as you type

Share & Embed

Help others discover this free tool. Share it or embed it on your website.

WhatsApp X/Twitter LinkedIn

Free to embed with attribution link to tekpulse.in

Related Guides

How to Calculate EMI for Home, Car & Personal Loan

Frequently Asked Questions

EMI (Equated Monthly Instalment) is a fixed payment made to a lender every month to repay a loan. It includes both principal repayment and interest.

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the principal, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the total number of months.

Yes — a longer tenure lowers your monthly EMI but increases the total interest paid over the loan period.

An amortization schedule shows the breakdown of each monthly payment into principal and interest components, and the remaining loan balance after each payment.

Yes. Making a part-prepayment reduces the outstanding principal, which reduces total interest paid. Most banks allow prepayment after a lock-in period.

Was this tool helpful?