EMI Calculator

Loan Amount

₹ 8,00,000

Rate of Interest (p.a.)

8.5%

Loan Tenure (Years)

Down Payment

₹ 0

Total Value
₹ 16,66,221

Total Value

₹ 16,66,221

Principal Amount

₹ 8,00,000

Monthly EMI

₹ 6,943

Total Interest

₹ 8,66,221

What is a EMI Calculator?

An EMI Calculator is an online tool that computes the monthly installment (EMI) for loans such as home loans, car loans, personal loans, or business loans. It takes into account:

Loan amount
Interest rate
Loan tenure
Repayment structure

This tool is essential for borrowers to plan finances and avoid debt burdens.

Real-World Use Cases for the EMI Calculator

Home Loan Planning:A first-time homebuyer analyzes monthly affordability and total interest outgo for different loan scenarios, understanding how tenure and down payment impact monthly obligations.
Vehicle Purchase Decision:A professional compares EMI scenarios across different car models, determining the most financially comfortable borrowing option.
Personal Loan Comparison:An individual evaluates EMIs across multiple banks, identifying the most cost-effective borrowing strategy for immediate financial needs.
Education Loan Budgeting:Students and parents plan education loan repayment, gaining insights into future financial commitments and managing educational investments.

Popular Calculators

How to Use the EMI Calculator (Step-by-Step Guide)

Follow these steps to calculate your EMI:

Enter the Loan Amount:

Input the principal amount you wish to borrow.

Enter the Down Payment (if any):

Input the amount you plan to pay upfront. This will reduce the loan amount and EMI.
Example: If the total cost is ₹10,00,000 and you pay ₹2,00,000 as a down payment, your loan amount will be ₹8,00,000.