How to Use the EMI Calculator
- Enter the loan (principal) amount.
- Enter the annual interest rate.
- Set the loan tenure in months or years.
- View your EMI, total interest and total payable amount.
Frequently Asked Questions
What is an EMI?
An Equated Monthly Installment is the fixed payment a borrower makes each month, covering both interest and a portion of the principal, until the loan is fully repaid.
How is EMI different from a loan payment?
It's the same concept — EMI is simply the term commonly used in India and several other markets for a fixed monthly loan installment.
Does a higher interest rate raise my EMI?
Yes. A higher annual interest rate increases the monthly EMI and the total interest paid over the loan tenure.
Can I reduce my EMI?
You can lower your EMI by borrowing less, choosing a longer tenure, or securing a lower interest rate — though a longer tenure increases total interest.
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