What is a EMI Calculator?
EMI means Equated Monthly Instalment — a fixed payment covering interest and principal until the loan is closed.
How is it calculated?
Enter the loan amount, annual interest rate and tenure in years. Results update as you move the sliders.
Formula used
P = principal, r = annual rate ÷ 12 ÷ 100, n = months
Worked example
₹10 lakh at 10% for 5 years has a monthly EMI of about ₹21,247. Total interest is about ₹2.75 lakh.
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Frequently asked questions
What is EMI?
A fixed monthly payment of interest plus principal until the loan is closed.
Which loans can I use this for?
Home, car, personal, education, business and loan-against-property products.
How does tenure change EMI?
A longer tenure lowers EMI but increases total interest.
Grow Money Calculator provides general financial calculation tools for educational and planning purposes. Results are estimates based on the information you enter and may differ from actual lender, bank or investment-product calculations. This is not a loan offer or investment advice. Read the full disclaimer.