Calculate your monthly EMI, total interest, and actual loan cost.
Loan EMI Calculator
Total loan amount sanctioned by the bank.Amount you pay upfront.Interest charged by lender per year.Total duration of the loan.Optional lump-sum payment to reduce loan.Charged by lender on loan amount.Applicable tax deduction on interest paid.
Loan Summary
Calculate EMI to view summary.
How EMI Is Calculated
EMI depends on loan amount, interest rate, and tenure.
Formula used:
EMI = P × R × (1+R)N / [(1+R)N − 1]
Where P = principal, R = monthly interest rate, N = total months.
Frequently Asked Questions
Does prepayment reduce EMI?
Yes, it reduces principal and interest burden.
Is tax benefit included?
This calculator estimates tax savings if applicable.
Is EMI fixed?
EMI remains constant unless rate or tenure changes.
