MONEY BASICS · CALCULATOR

Loan EMI Calculator

Calculate an illustrative fixed monthly EMI for a standard reducing-balance loan using the principal, annual interest rate and term you enter.

Money calculator illustration
Enter values and select Calculate.

Formula

For a standard monthly reducing-balance calculation, EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is principal, r is monthly rate and n is number of monthly payments.

Lenders may also add fees, insurance, taxes or use different terms. Verify the current loan schedule with the lender before relying on a number.

Related reading

EMI explained

Effective interest

Compound interest

Simple vs compound interest