How to Use the EMI Calculator

Enter the loan amount, interest rate, and loan tenure to instantly calculate your monthly EMI. You can use the sliders for quick adjustments.

EMI Formula

EMI = [P × r × (1+r)ⁿ] / [(1+r)ⁿ – 1]

Where P = Principal loan amount, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), and n = Total number of monthly instalments.

Tips for Getting the Best Loan Rate in India

• Maintain a CIBIL score above 750 for the lowest interest rates.
• Compare offers from multiple banks and NBFCs before finalising.
• Choose a shorter tenure to pay less total interest, even if the EMI is higher.
• Consider prepaying the loan when you receive a bonus or windfall to reduce the outstanding principal.