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EMI Calculator

This calculator will help you to calculate the expected EMI on your loan amount by taking into consideration the Principal Amount, Loan Tenure and Interest.

Loan Principal Amount

Choose Amount:

Loan Tenure


Loan Interest Rate(Annual)


EMI payments starting from

EMI Calculator - Calculate Loan Interest Rates & Eligibility

As financial services and products get more easily accessible with every passing day, loans have become significantly popular among professionals looking to cover their large purchases, debt consolidation, emergency expenses, and other personal financial requirements. However, while loans provide quick access to funds, you must appraise several factors before availing one – including the loan tenure, repayment capacity, and interest rates. After all, taking out a loan is bound to somehow influence your lifestyle and spending habits.

Instead of making do with speculations and manual calculations, a very convenient way for you to consider your suitability to take out a loan before applying for one is to use a loan EMI calculator. With an EMI calculator, you can determine your principal amount and the amount after adding interest rates and know how much your monthly payments will be.

It is possible to check with different loan providers that provide loans with different interest rates and gain benefits.

The interest rate may increase in the future, so it would be wise to plan for an approximate estimate.

This will even help you when it comes to planning your figures if you need to change your loan's tenure.

How can an Online EMI calculator help you?

Calculation much easier

The world revolves around calculations. Before completing all of the loan paperwork, it is essential to calculate your EMI amount. Because everything hinges on calculation. Enter the loan amount, rate of interest, loan tenure, and processing fee if you are one of those clients who has applied for a loan. The home loan calculator will perform the required calculations and calculate your EMI. You can find out how much you can borrow using the loan amount calculator.

Access the calculator at home

A calculator's biggest feature is that it may be used at any time and from any location. Depending on your needs, you can use the calculator an infinite number of times. That's a lot better than going to the bank and trying to figure out complicated mathematical computations that can drive you insane. If it's not too much to ask, simply utilize the EMI calculator on the internet at home.

Less time consuming

Avoid this arduous path if you want to rely on your personal calculations to figure out the details of your loan amount and interest rates. Furthermore, manual calculations are inherently time-consuming. It would put your patience to the test at every turn. Better use a house loan EMI calculator because it works easily and quickly, displaying the answers in a flash. You can't go wrong with the numbers when it comes to home loan preparation because it includes proper calculations. A home loan EMI calculator will always offer you the correct answer.

Comparing loan offers of banks

When applying for a loan, the most important thing to remember is to compare loan offers from various institutions. Your EMI loan calculator will come in handy in this situation. You can calculate the overall cost of the loan as well as the corresponding EMIs. As a consequence, you'll have no trouble selecting the finest loan option for your needs. The interest rates on loans differ from one lender to the next. Even a difference of 0.04 percent in house loan interest rates might have a substantial influence on the EMI amount.

Everyone is familiar with the term EMI. Equated Monthly Installment is what EMI stands for. The borrower pays it to the loan institution every month or yearly, whichever is preferable. It is divided into three sections:

  1. Principal Amount
  2. Interest rate
  3. Tenure of repayment

How is EMI calculated?

Mathematically, EMI is calculated as under:

P x R x (1+R)^N / [(1+R)^N-1]


P - P is the principal amount.

R -R is the rate of interest.

N - N is the tenure of repayment

What is the formula to calculate EMI?

How is EMI and down payment calculated?

The aforesaid variables along with the processing fee are needed to determine your EMI.

For example, if you borrow Rs 51,00,000 for a home loan from Axis Bank at a rate of interest of 10% p.a. and the tenure of the loan is 15 years, your EMI will be calculated as under (assuming a 1% processing fee):

EMI = 5100000* 0.0083 * (1+ 0.0083)^180 = Rs 54,805 / [(1+ 0.0083)^180 ]-1

The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 10% per annum, then R= 10/12/100 = 0.0083.

Types of EMI Calculator

  • Home Loan EMI Calculator
  • Car Loan EMI Calculator
  • Personal Loan EMI Calculator
  • Student Loan EMI Calculator
  • Gold Loan

How to use Elearnmarkets EMI Calculator?

  1. Use the slider for Selecting Loan Amount.
  2. Select the Loan tenure in Months
  3. Move the slider and select the Interest Rate.
  4. Recalculate your EMI anytime by changing the input sliders.

Advantages of Using Elearnmarkets EMI Calculator?

  • Completely free of charge. Use it as many times & whenever you want.
  • Our EMI online calculator gives almost 100% accurate results.
  • It’s fast & gives accurate estimates almost instanteously.

Apart from loan EMI calculators, Elearnmarkets also offers other calculators which you can find here. All of them are completely free & you use them as many times as you want.

Frequently Asked Questions(FAQ)

What sort of EMI loans can I calculate here?

Use this online EMI calculator for various types of loans like personal loan, home loan, car loan & gold loan. Just input a few things like interest rate payable on principal amount & the tenure, after that get the details on your specific loan type.

How does the debt-to income ratio affect my chances of availing of a loan?

Regarding loan availability, an user’s debt-to-income ratio should not be more than 50%. Otherwise the lending institution will be led to believe that the user’s wherewithal to repay the loan.

What are the main components of an EMI?

An equated monthly installment represents a part of your principal amount & interest payable. An user needs to pay until the tenure ends. Alternatively you can settle the debt with pre-closure charges in the form of one-time payment.

What happens if I fail to pay the EMI’s?

If there is a bounce on your monthly EMI, different financial institutions levy heavy charges on missed payments. Also, you may have to pay extra in the future.

Is my loan EMI fixed or can it change over the loan tenure?

Banks offer floating rates of interest in the case of business & home loans. Loan installment can change according to the change in interest rates. Some banks allow you to keep the Equated Monthly Instalment constant while increasing the loan tenure. Loan prepayment can also change your due amount. There are 2 options given by banks.

  1. Banks will give you the option to either keep the EMI constant and decrease the loan tenure.
  2. Or, reduce the Equated Monthly Instalment and keep the loan tenure the same.

Are EMI calculators more accurate than excel calculators?

If you are well versed with excel sheets, they can also give the right results. You may use the EMI calculator to get the results within seconds.