Calculate your monthly EMI, total interest and total amount payable for any loan or product. Adjust the amount, rate and tenure to plan your budget.
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An EMI (Equated Monthly Installment) is the fixed amount you repay every month towards a loan or a product bought on EMI. It has two parts — principal and interest. Our calculator uses the standard reducing-balance formula every bank in India uses, so the number here closely matches what your lender will quote.
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 months.
Knowing your EMI in advance helps you choose a tenure your budget can comfortably handle. A longer tenure lowers the monthly EMI but increases total interest. A shorter tenure does the opposite. Move the sliders to find the sweet spot.
Buying a phone, laptop or appliance? Check whether a No Cost EMI offer is available — it can save you the entire interest amount shown above.