EMI Calculator

An Equated Monthly Instalment (EMI) is the fixed amount you pay each month to a bank or financial institution until your loan is fully repaid. Each EMI includes two components: the principal, which is the portion of the loan you are repaying, and the interest, which is the cost of borrowing.

The total loan amount, along with interest, is divided over the loan tenure, which is usually in months. While your monthly EMI remains constant, the interest portion is higher during the initial months and gradually decreases over time. Conversely, the principal portion increases with each payment. This structure ensures that, by the end of the loan tenure, the entire principal and interest are completely paid off. Understanding how EMI works helps you plan your finances better and manage your home loan, personal loan, or car loan repayments effectively.

Our EMI Calculator is a quick, easy, and intuitive tool that helps you calculate your monthly loan payments instantly. Using colorful charts and clear results, you can calculate EMIs for various loans, including home loans, car loans, personal loans, education loans, or any other fully amortizing loan. This makes it simple to plan your finances and understand your repayment obligations.

EMI Formula

EMI = [P × R × (1+R)^N] ÷ [(1+R)^N – 1]

Where:

• E = EMI (Equated Monthly Instalment)
• P = Principal Loan Amount
• R = Rate of interest (calculated monthly)
  Formula: Annual Interest Rate ÷ 12 ÷ 100
  Example: If the annual interest rate is 10.5%, then R = 10.5 ÷ 12 ÷ 100 = 0.00875
• N = Loan tenure (in months)

Example Calculation:

If you borrow ₹10,00,000 from the bank at an annual interest rate of 10.5% for a period of 10 years (120 months):

EMI = ₹10,00,000 × 0.00875 × (1 + 0.00875)¹²⁰ ÷ [(1 + 0.00875)¹²⁰ – 1]

EMI = ₹13,493

You will need to pay ₹13,493 every month for 120 months to repay the loan. The total repayment amount will be ₹16,19,220, which includes ₹6,19,220 as interest.

With the number of credit accounts in India growing rapidly, knowing your monthly loan obligations before applying is more important than ever. Whether you are taking a home loan, car loan, or personal loan, an EMI calculator in India helps you estimate your monthly payments accurately and plan your finances effectively.

Using an online EMI calculator offers several benefits:

• Plan your finances: Get a clear estimate of your EMI so you can budget your expenses and maintain a healthy debt-to-income ratio, ideally below 50%.
• Save time: Avoid manual calculations and instantly get your monthly repayment figures.
• Accuracy: Eliminates the risk of errors, providing precise results every time.
• Loan-specific calculations: Each type of loan has a different EMI structure. For instance, a home loan EMI includes principal and interest differently compared to a personal loan EMI.

By using a reliable online EMI calculator, you can make informed decisions, compare loan options, and ensure a smooth repayment journey.

The India Corporate’s EMI calculator is an easy-to-use tool that helps you calculate your monthly loan repayments quickly and accurately.

Steps to Use the EMI Calculator:

1. Enter Loan Amount – Input the total amount you wish to borrow.
2. Enter Loan Tenure – Select the repayment period in months or years.
3. Enter Interest Rate – Provide the annual interest rate offered by your lender.

Once you enter these details, the calculator will instantly display:

• Monthly EMI (Equated Monthly Instalment)
• Total repayment amount over the loan period
• Total interest payable

The benefits of EMI with India Corporate’s EMI Calculator make borrowing and big purchases much more convenient and affordable. With an EMI option, you get the freedom to buy high-value items like a home, car, or gadgets without paying the entire amount upfront.

Instead, the lender divides the total cost into manageable monthly instalments, ensuring better affordability and helping you spread expenses over time. Since your EMI is fixed for the loan tenure, it becomes easy on the wallet, allowing you to plan other expenses and investments without financial strain. Moreover, using India Corporate’s online EMI calculator helps you plan repayments smartly by showing the exact monthly outflow, interest payable, and total repayment amount, making financial planning more accurate and stress-free. If you also want to plan your investments alongside loan repayments, try our SIP Calculator to estimate your mutual fund returns and create a balanced financial plan.