Model a hypothetical EMI by entering your own amount, annual rate and tenure. This is not a lender quote.
About EMI Calculation
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan over a chosen tenure. It includes both the principal amount and the interest charged.
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1]
Where: P = Principal | R = Monthly interest rate (annual ÷ 12 ÷ 100) | N = Tenure in months
Tips to reduce your EMI
- Choose a longer tenure to lower monthly EMI (but total interest goes up)
- Review your own credit report and ask the lender how it affects eligibility and pricing
- Make a larger down-payment so the principal is smaller
- Compare any available lender Key Fact Statements, APRs, fees and repayment obligations
- Make periodic part-prepayments to reduce outstanding principal
Disclaimer
This calculator uses only the assumptions you enter. It does not load current lender rates and is not an eligibility result, Key Fact Statement or loan offer. Actual APR, EMI, fees, taxes and terms must come directly from the regulated lender.