EMI Calculator
Work out the monthly EMI, total interest, and payment for any loan — free, no sign-up required.
The principal you borrow — works for home, car, education, or personal loans.
Monthly EMI
₹22.5K /mo
₹25.0L at 9% p.a. over 240 months
Principal
₹25.0L
amount borrowed
Total Interest
₹29.0L
over 240 months
Total Payment
₹54.0L
principal + interest
Smart Insights
Interest is 54% of everything you repay — a shorter tenure or regular prepayments could cut this sharply.
Cutting the tenure by 5 years raises the EMI to ₹25.4K but saves ₹8.3L in total interest.
Next Step
Make sure that EMI fits your monthly budget.
Nami tracks your spending so you know exactly how much room you have for a new loan.
Reducing-balance EMI estimate. Your lender's actual EMI may differ slightly due to rounding, fees, and rate changes.
Frequently asked questions
What is an EMI and how is it calculated?
EMI (Equated Monthly Installment) is the fixed amount you pay your lender each month. It is calculated as EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly installments.
How does loan tenure affect my EMI?
A longer tenure lowers your monthly EMI but increases the total interest you pay over the life of the loan. A shorter tenure means a higher EMI but significantly less total interest. This calculator shows both so you can balance the trade-off.
What is the difference between fixed and floating interest rates?
A fixed rate stays the same for the loan term (or a set period), giving predictable EMIs. A floating rate moves with the market or the lender's benchmark, so your EMI or tenure can change. Floating rates are common for home loans in India.
Does prepaying a loan reduce my EMI or tenure?
A prepayment reduces your outstanding principal. Most lenders then let you either keep the EMI the same and shorten the tenure (saves the most interest) or reduce the EMI and keep the tenure. Prepaying early in the loan saves the most.
What is loan amortization?
Amortization is how each EMI splits between interest and principal over time. Early EMIs are mostly interest; later EMIs are mostly principal. The total interest is the sum of all EMIs minus the principal you borrowed.
Can I use this for home, car, and personal loans?
Yes. The EMI formula is the same for any reducing-balance loan — home, car, education, or personal. Just enter the loan amount, interest rate, and tenure for your specific loan.