EMI (Equal Monthly Installment) is a fixed payment made each month toward a loan, covering both principal and interest, until the loan is fully repaid.

Does a lower rate always mean a lower EMI?

Generally yes for the same loan amount and term, but a longer term at a lower rate can still result in more total interest paid over the life of the loan.

Finance

Loan EMI Calculator

Calculate your monthly loan payment (EMI), total interest, and total repayment.

Loan amount

Annual interest rate (%)

Loan term (years)

Monthly payment

1863.93

Total interest

197343.88

Total repayment

447343.88

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About this tool

Estimate the equal monthly installment (EMI) for a mortgage, auto loan, or personal loan based on the loan amount, interest rate, and term — plus the total interest you will pay over the life of the loan.

How to use this tool

1
Enter the loan amount
Type the total amount you plan to borrow.
2
Set rate and term
Enter the annual interest rate and loan term in years.
3
Read your monthly payment
See your EMI, total interest, and total repayment amount.

Frequently asked questions

What is EMI?: EMI (Equal Monthly Installment) is a fixed payment made each month toward a loan, covering both principal and interest, until the loan is fully repaid.
Does a lower rate always mean a lower EMI?: Generally yes for the same loan amount and term, but a longer term at a lower rate can still result in more total interest paid over the life of the loan.

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