FinAxis® Tools

EMI Calculator

Work out your monthly loan EMI, total interest, and total amount payable in seconds. Adjust the loan amount, interest rate, and tenure to plan your borrowing with confidence.

₹
₹1 Lakh₹5 Crore
%
5%30%
Yrs
1 Year30 Years
Your Monthly EMI ₹0
Interest0%
Principal₹0
Total Interest₹0
Total Payable₹0
Get this loan with FinAxis

Estimates only. Actual interest rates and EMI are subject to lender approval and your credit profile.

How your EMI is calculated

An EMI (Equated Monthly Instalment) is the fixed amount you repay to a lender every month until your loan is cleared. Each EMI is made up of two parts — repayment of the principal (the amount you borrowed) and the interest (the cost of borrowing).

EMI = P × r × (1 + r)n ⁄ [(1 + r)n − 1]
where P = loan amount, r = monthly interest rate (annual ÷ 12 ÷ 100), and n = number of monthly instalments.

A longer tenure lowers your monthly EMI but increases the total interest you pay. A shorter tenure means a higher EMI but far less interest overall. Use the sliders above to find a balance that fits your cash flow.

Want to understand EMIs in more depth? Read our guide: What Is an EMI — And What Is It Really Costing You?