About the EMI Calculator
An EMI (Equated Monthly Instalment) is the fixed amount you repay to a lender every month until a loan is cleared. Each EMI is split between interest and principal: early in the loan most of the payment goes toward interest, and as the balance falls, more of it goes toward the principal.
This calculator uses the standard reducing-balance EMI formula. Enter the loan amount, the annual interest rate, and the tenure in months or years, and it returns your monthly EMI, the total interest you'll pay over the life of the loan, and the total amount repaid. Comparing tenures here is useful — a longer tenure lowers the EMI but increases total interest, while a shorter tenure does the opposite.