India EMI Calculator
Estimate a fixed-rate loan EMI, total interest and remaining balance from your loan amount, annual rate and term.
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Annual breakdown
| Month | Loan remaining | Cumulative interest |
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How this EMI estimate works
The model divides the annual nominal rate by 12 and uses equal end-of-month payments on a reducing loan balance. With principal P, monthly rate r and n payments, EMI = P × r / (1 − (1 + r)−n). At zero interest, EMI = P / n.
Example: ₹10 lakh over five years
At an illustrative 9% annual rate for 60 months, the EMI is about ₹20,758.36. Total interest is approximately ₹2,45,501.31. Your lender may round each payment differently.
What can change your actual payment?
Fees, insurance, payment dates, daily interest and rate resets are excluded. The rate stays constant throughout this estimate. RBI explains that floating-rate changes can affect EMI or tenure; check your loan agreement.
RBI floating-rate EMI FAQ, January 10, 2025 · Reviewed September 15, 2026.
Explore the trade-offs
Understand EMI, tenure and prepayment. Compare monthly commitments with your estimated in-hand salary.