Calculate your Equated Monthly Installment (EMI) for personal loans, home loans, and more
Loan Details
₹10K₹50L
5%30%
6 months60 months
Results update automatically as you change values
₹0
Monthly EMI
Loan Summary
Principal Amount₹1,00,000
Total Interest₹0
Total Amount₹0
💡 Tips
• Lower interest rates reduce your EMI
• Longer tenure = lower EMI but higher total interest
• Compare rates from multiple lenders
• Check for prepayment charges before taking a loan
Frequently Asked Questions
Common questions about our services
EMI (Equated Monthly Installment) is the fixed amount you pay each month towards your loan. It's calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is number of months.
EMI depends on three main factors: loan amount (principal), interest rate, and loan tenure. Higher loan amount or interest rate increases EMI, while longer tenure reduces EMI but increases total interest paid.
Shorter tenure means higher EMI but lower total interest. Longer tenure means lower EMI but higher total interest. Choose based on your monthly repayment capacity - ensure EMI doesn't exceed 40-50% of your monthly income.
Yes, most lenders allow prepayment. Prepaying reduces your principal, which can lower future EMIs or reduce loan tenure. Check with your lender about prepayment charges before making extra payments.
Missing EMI payments can result in late fees, penalty charges, negative impact on credit score, and potential loan default. Always ensure sufficient funds in your account before the EMI due date.