See your monthly loan payment and total interest in a tap.
EMI stands for Equated Monthly Instalment — the fixed amount you pay each month until the loan is cleared. Every payment covers some interest and some of the loan itself.
The formula is P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, n is the number of months, and r is the monthly interest rate — the yearly rate divided by 12, then by 100. A 10% yearly rate becomes a monthly rate of about 0.00833.
For a ₹1,00,000 loan at 10% over 12 months, the EMI is about ₹8,792, the total payment is roughly ₹1,05,500, and the total interest is around ₹5,500.
Multiply the EMI by the number of months to get the total payment. Subtract the original loan amount and what's left is the total interest you pay over the life of the loan.
Everything runs in your browser; no amounts are uploaded or stored. This is an estimate — your lender may apply fees, a different compounding method, or rounding that changes the exact figure.
EMI is based on the loan amount, the monthly interest rate and the number of months. The tool shows your monthly payment, total interest and total repayment.
Yes. Switch the tenure unit between months and years and the EMI updates instantly.
A lower interest rate reduces both the EMI and the total interest. A longer tenure lowers the EMI but increases the total interest you pay.
No. It is an estimate for planning. Your lender's actual EMI may differ due to fees and rounding.