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Result
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Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)
Example
₹1,00,000 loan at 9% for 12 months yields a monthly EMI around ₹8,622.
How is EMI calculated?
Use the reducing-balance formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). Here r is the monthly rate and n is the number of months. A ₹1,00,000 loan at 9% a year for 12 months produces an EMI of about ₹8,745.15 on this page.
The page rounds the displayed EMI to two decimal places. A lender may round differently, add a processing fee, or use a rest method that does not match this formula.
The result assumes the rate never changes and that every month has the same payment. A floating rate, a moratorium, or a prepayment will change the real schedule.
How is this different from the home loan calculator?
This EMI page takes tenure in months. The home loan page takes tenure in years and multiplies by 12 before it uses the same EMI formula. Use this page for a short loan quoted in months. Use the home loan page when the offer is quoted in years.
Neither page is a loan offer. They do not know your credit score, fees, insurance, or the lender’s actual reducing-balance rules.
How to use this calculator
- Enter the loan amount. This is principal, P, in rupees. Do not include a separate fee unless you want that fee inside the amount you type.
- Enter the annual interest rate. Type the yearly percent. The page converts it to a monthly decimal rate.
- Enter the tenure in months. A one-year loan is 12 months. The result is the monthly instalment, not the total interest.
Questions about EMI Calculator
Why is my bank EMI different?
Banks can add fees, use a different rounding rule, or start interest on a different date. This page only runs the standard formula on the three numbers you type.
Does the result include total interest?
The line on screen is the monthly EMI. Total payment is EMI times the number of months, and interest is that total minus principal. Those extra totals are not the line shown in the result box.
Can the rate be zero?
No. The page requires a positive rate because the formula divides by the growth of (1 + r). A zero-interest loan is just principal divided by months, which this form does not compute.
Is the tenure in years or months?
Months. For a 5-year loan, enter 60.
Read the guide
Both loan pages use EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). The EMI page takes n in months. The home-loan page takes years and sets n to years × 12. A ₹1,00,000 loan at 9% for 12 months is an EMI of ₹8,745.15. A ₹30,00,000 loan at 8.5% for 20 years is an EMI of ₹26,034.70.
Open “EMI in months and a home loan in years”What this helps you do
- Estimate EMI from the inputs you already have.
- Check the result against the formula and the worked example.
- Change one value at a time and compare the new estimate.
Limits to keep in mind
- The figure is only as complete as the inputs on this form.
- Rounding, fees, and local rules can change the real-world number.
- Use it to learn and compare. Confirm important finance or health decisions with a qualified professional.