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Personal Loan EMI Calculator
What will my personal loan EMI be?
Work out your monthly loan EMI, total interest and full repayment schedule.
Free, private, no sign-up
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Suggest an improvementWhat is an EMI?
An EMI (equated monthly instalment) is the fixed amount you pay your lender every month until the loan is repaid. Each EMI covers that month's interest, and the rest reduces your principal. Early EMIs are mostly interest, and later ones are mostly principal.
How the EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P is the loan amount, r the monthly interest rate (the annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. For example, ₹1,00,000 at 10% a year for 12 months gives an EMI of ₹8,791.59.
Good to know
How do I use this calculator?
Pick a starting point, or enter the loan amount, the yearly interest rate and the tenure. Your EMI, total interest and total payment update as you type. Use Share this calculation to send the exact numbers to someone.
Why is the total interest so high on long loans?
Interest is charged on the outstanding balance every month. A longer tenure lowers the EMI but keeps the balance higher for longer, so you pay more interest overall.
Does this work for floating-rate loans?
It assumes the rate stays the same for the whole tenure. If your rate changes, enter the new rate with the remaining balance and tenure to see your updated EMI.
Why might my bank's EMI differ slightly?
Banks may round the EMI up to the nearest rupee, or charge interest from the disbursal date. This calculator shows the exact value to the paisa, with the last instalment adjusted so the loan closes at exactly ₹0.
Are the presets real bank rates?
No. They're example starting points. Always check the current rate with your lender.
Is my information private?
Yes. The calculator runs entirely in your browser. Nothing you enter is sent to a server.