EMI Calculator

Calculate your monthly loan EMI, total interest and total repayment amount instantly with Loan Avenue.

Enter Loan Details

Loan Amount ₹5,00,000

Annual Interest Rate 10.50%

Loan Tenure 5 Years

Years Months

Your EMI Result

Monthly EMI

₹10,747

Principal Amount ₹5,00,000

Total Interest ₹1,44,820

Total Payment ₹6,44,820

Loan Tenure 60 Months

Payment Breakdown

Principal: 77.5% Interest: 22.5%

What is EMI?

EMI stands for Equated Monthly Instalment. It is the amount you generally pay every month towards repayment of your loan.

An EMI normally consists of two components:

• Principal: The amount borrowed.
• Interest: The cost charged by the lender for providing the loan.

Your EMI mainly depends on the loan amount, interest rate and repayment tenure.

How is EMI Calculated?

The commonly used EMI formula is:

EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]

Where:

• P = Principal loan amount
• R = Monthly interest rate
• N = Number of monthly instalments

EMI Calculation Example

Suppose you take a loan of ₹5,00,000 for 5 years at an annual interest rate of 10.5%.

Particular	Example
Loan Amount	₹5,00,000
Interest Rate	10.5% p.a.
Tenure	5 Years / 60 Months
EMI	Calculated automatically above

Things to Check Before Taking a Loan

• Interest rate
• Monthly EMI
• Total interest payable
• Total repayment amount
• Processing fee
• GST and applicable charges
• Prepayment or foreclosure conditions
• Late-payment charges
• Loan tenure
• Key Fact Statement and loan agreement

Loan Avenue Tip: A lower EMI does not always mean a cheaper loan. A longer tenure may reduce your monthly EMI but increase the total interest paid.

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Disclaimer:

This EMI Calculator is provided for general educational and informational purposes only. The calculated EMI, total interest and repayment figures are estimates based on the information entered by the user. Actual EMI, interest rate, charges, repayment schedule and total cost may differ depending on the respective bank, NBFC or financial institution, loan product, interest calculation method, disbursement date, fees and applicable terms. Always verify the final repayment schedule, Key Fact Statement and loan agreement provided by the lender before accepting a loan.