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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.

EMI Calculator- Calculate your Monthly Loan Installments

Loan Principal Amount

Minimum value should be ₹5000.

Loan Tenure


Minimum value should be 1

Loan Interest Rate(Annual)


Minimum value should be 1

EMI payments starting from

Monthly EMI

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On a principal loan amount of {{homeLoanAmount|customcurrency}} at {{homeLoanRate < 1 ? 0 : homeLoanRate}}% for {{homeLoanTenure < 1 ? 0 : homeLoanTenure}} years.



EMI Calculator - Estimate Your Monthly Installments


Today, loans play a significant role in our lives. Loans help us accomplish some very essential life goals, whether it be purchasing a home, a car, or sending children overseas for education. That so, because the money we borrow must be returned to the lender with interest, the term "EMI" always comes up when we consider loans


It is tough to calculate Equated Monthly Instalment, but don’t worry, for that we have EMI Calculator, but before driving into how to calculate EMI and how to use EMI Calculator, let us discuss some basics of EMI:


What is an EMI (Equated Monthly Instalment)?


Equated Monthly Instalment, often known as EMI, is a set sum that a borrower pays to the lender each month on a particular date that is pre-determined at the time the loan, product, or service is obtained.


These payments are applied to the main and interest balances, making it simple to pay back the borrowed money over a certain number of years.


Equated Monthly Instalments, or EMI, is a concept that works particularly well with several loan types, such as auto loans, mortgages on real estate, student loans, and many others, where the borrower makes fixed monthly payments to the lender over a number of years to pay off the entire loan amount.


In order to calculate, Equated Monthly Instalments or EMI we use an EMI calculator, which helps us to determine what amount we need to pay every month.


Let us discuss some factors that affect EMI:


What Factors Affect EMI?


The following are the elements that influence an EMI:


  1. The principal borrowed refers to the entire amount of loans taken out by the borrower.
  2. Interest rate: This is the rate of interest applied to the amount borrowed.
  3. The length of the loan, or its tenure, is determined by the borrower and lender.
  4. Whether the loan is fixed or floating, the "Rest" component will have an impact on the EMI.

The EMI for a fixed loan type stays constant during the course of the loan. The EMI amount, however, may change in the floating kind depending on when the interest rate increases.


What is the amortization schedule?


The amortisation schedule is a detailed table that includes all loan information as well as the breakdown of EMI instalments. It displays the percentage of each EMI payment that is allocated to interest and principal until the loan is repaid.


The amortisation schedule, which includes information like the following, can help us to understand how a loan develops during the loan term.


  1. Total EMI
  2. Principal lent
  3. Cost of interest for each EMI payment

The amortisation schedule is a detailed table that includes all loan information as well as the breakdown of EMI instalments. It displays the percentage of each EMI payment that is allocated to principal and interest until the loan is repaid.


The amortisation plan aids you in comprehending how your loan evolves over time.

We hope that must have got an understanding what is EMI, now let us discuss how it works:


How does an EMI (Equated Monthly Instalment) Work?


Before we get into the EMI calculation, we should remember the following three points.


  • The EMI payments are directly proportional to loan amount and interest rates. But inversely proportional to loan tenure.
  • The EMI payments increase in proportion to the loan amount or interest rate, and vice versa.
  • Even though the total amount of interest that must be paid rises as the loan period lengthens, the EMI payments fall as the loan tenure lengthens.

Now let us come to the main part- the EMI Calculation and EMI Calculator:


How do calculate EMI?


The mathematical formula EMI is as following:


EMI = Loan Amount × Rate of Return × (1 + Rate of Return) ^ Tenure / ((1 + Rate of Return) ^ Tenure- 1}Is this formula looking like a Greek to you? Let us explain the calculation with an example:

Suppose our amount for Rs 1 lakh, interest rate is 10% t and 12 months tenure, then putting the values in the formula-

EMI= 1,00,000 x 0.10 x (1+0.10) ^12/ ((1 + 0.10) ^12- 1} = Rs. 8,792

We know this calculation is time-consuming and also difficult to calculate every time we need to calculate EMI, this is the reason that Elearnmarkets has developed EMI Calculator.


EMI Calculator Online


We can calculate EMI, in the following steps:


  1. Enter the Principal amount
  2. Enter the loan tenure
  3. Enter the annual loan interest rate
  4. And click on “Calculate Now”

We will get the EMI value as follows:


EMI Calculator


Now, that we have understood how our EMI on loans are calculated, and how the us the EMI calculator easily, let us discuss some FAQs on the same:


What are the main components of an EMI?


The main components of EMI are- loan amount, interest rate and the loan tenure.


What sort of EMI loans can I calculate here?


You can calculate the EMI on personal loan, home loan, car loan and gold loan with the help of our calculator.


Are EMI calculators more accurate than excel calculators?


You can use either of the EMI calculators or excel calculator to calculate EMI.