EMI Calculator

Enter the loan amount, interest rate and tenure to see your monthly EMI and how much of what you repay is interest. The schedule shows how the principal balance falls each year.

Updated for the RBI repo rate hike to 5.50% (7 Oct 2026).Calculated in your browser. The amounts you enter are never sent to us or stored.
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Quick answer

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. A ₹10 lakh loan at 9% for 10 years has an EMI of about ₹12,668.

How to use the EMI Calculator

  1. Enter the loan amount.
  2. Enter the annual interest rate.
  3. Enter tenure in years or months.
  4. Read EMI, total interest and the amortisation schedule.

Worked example

₹10,00,000 at 9% for 10 years: EMI ₹12,667.58, total interest ≈ ₹5,20,110, total paid ≈ ₹15,20,110.

Formula

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

Frequently asked questions

Does a longer tenure reduce total cost?

No. A longer tenure lowers the EMI but increases total interest paid.

Is the EMI the same for floating-rate loans?

Only until the rate changes. Banks usually adjust the tenure or the EMI when the repo-linked rate moves.

How much will my EMI rise after the RBI repo hike of October 2026?

On 7 October 2026 the RBI raised the repo rate by 0.25%, from 5.25% to 5.50%. Repo-linked home loans usually rise by the same 0.25% from the next reset date. For example, a ₹30 lakh, 20-year loan going from 8.50% to 8.75% moves from an EMI of about ₹26,035 to about ₹26,511, roughly ₹477 more a month, if the bank changes the EMI instead of the tenure. Enter your own loan above with the new rate to see your figure.

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Last reviewed by Basant Upadhyay.

Results are estimates for general information and are not tax, legal or financial advice. Rates and rules change; confirm with a chartered accountant or your lender before acting. Disclaimer.

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© 2026 JhatPat Tools · Made in Kolkata · Results are estimates, not professional advice.

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