Calculate your EMI

EMI Calculator


Expected Rate of Interest

6% 30%


0.25 Year 30 Years
3 Months 360 Months

EMI Breakdown


₹ 1,00,00,000

Total Interest payable

₹ 37,48,187

Total Payable amount

₹ 1,37,48,187

Borrow Lump sum amount and repay it monthly with minimal interest

Monthly EMI

₹ 1,14,568

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Monthly Amortization

EMI Paid

₹ 1,14,568 /month

Total payable amount

₹ 1,37,48,187



Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid.

What is a EMI?

The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

Formula to calculate EMI

  • E is EMI
  • P is Principal Loan Amount
  • r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)
  • n is loan term / tenure / duration in number of months

Benefits of Using an Online EMI Calculator

Here are the benefits of using an EMI calculator: 

1. 24x7 Accessibility

You can use an online EMI Calculator anytime and anywhere as long as you have a stable connection to the internet. This helps you plan your finances on your own time without having to take tedious trips to your chosen financial institution’s branch. This flexibility and convenient access help you make sound financial decisions on the go and promote active financial management.

2. Quick Results

An EMI calculator can calculate your estimated Equal Monthly Instalments (EMIs) within seconds. This helps you gain insight into your possible repayment schedule quickly, allowing you to examine your loan affordability and make informed decisions immediately. As a result, you can now manage your finances efficiently without delay.

3. Accurate Calculations

An EMI calculator helps you automate complex and tedious calculations that can be prone to errors if done manually. With precise EMI estimates, you work with reliable and accurate financial projections that help you manage your finances efficiently. 

4. Facilitates Easy Comparison

Compare EMI estimates for multiple loan amounts, interest rates, and tenures with a click of a button. This helps you analyse different loan options with ease and allows you to find the one that suits your unique financial capabilities and goals effectively. 

5. Assistance in Financial Planning

By offering 24x7 accessibility, quick and accurate calculations, and facilitating easy comparisons, EMI calculators help you manage your financial decisions and plan your financial future effectively. This active approach ensures your long-term financial well-being and reduces the risk of default in repayments.

Floating rate EMI calculation

We suggest that you calculate floating / variable rate EMI by taking into consideration two opposite scenarios, i.e., optimistic (deflationary) and pessimistic (inflationary) scenario. Loan amount and loan tenure, two components required to calculate the EMI are under your control; i.e., you are going to decide how much loan you have to borrow and how long your loan tenure should be. But interest rate is decided by the banks & HFCs based on rates and policies set by RBI. As a borrower, you should consider the two extreme possibilities of increase and decrease in the rate of interest and calculate your EMI under these two conditions. Such calculation will help you decide how much EMI is affordable, how long your loan tenure should be and how much you should borrow.

Types of EMI Calculators

Here are the different types of EMI calculators that you can use to plan your loan EMIs:

1. Home Loan EMI Calculator

Home loans typically have huge loan amounts with lengthy tenures. These require sound financial planning to ensure timely repayment. A home loan EMI calculator helps you calculate your EMI accurately and with ease. 

All you have to do is enter your loan amount, interest rate and loan tenure. The EMI calculator will calculate your EMI based on this information within seconds. This will allow you to plan your home loan repayment schedule comfortably.

2. Personal Loan EMI Calculator

Personal loans allow you to finance a plethora of expenses, ranging from a family vacation or wedding to home renovations or moving expenses. However, since these don’t require you to offer collateral, the interest rates charged on these loans are usually higher, and the tenure is shorter as compared to other loans. 

A personal loan EMI calculator can help you plan and analyse your loan repayment capabilities with ease and accuracy. All you have to do is enter the loan amount, interest rate and loan tenure, and the calculator will instantly calculate your estimated EMIs.

3. Car Loan EMI Calculator

Buying a vehicle is a significant expenditure that is best met with a car loan. These loans are typically repaid with interest as per the agreed schedule. In case of default in payment, the financial institution sells your car to recover the unpaid loan amount.

To prevent this, you can use a car loan EMI calculator to help you plan your car loan repayment schedule efficiently. Feed in your loan amount, interest rate and tenure into the calculator. Based on this, the car loan EMI calculator will display the estimated EMI.

4. Education Loan EMI Calculator

Education can be financially draining today. As a result, education loans are steadily gaining prominence as a viable alternative to dipping into one’s savings or liquidating assets. These loans are specially designed to help finance educational courses in India as well as abroad.

An EMI calculator for education loans can help you choose the right loan for your needs and plan your future better. Simply enter the loan amount, interest rate and loan tenure into the education loan EMI calculator and it will instantly calculate your estimated EMI.

5. Loan Against Property EMI Calculator

A loan against property requires you to offer your property as collateral for the loan. This property can be commercial, residential, or even land. With a loan against property EMI calculator, you can calculate your EMIs instantly. 

Enter your loan amount, rate of interest, and tenure. The calculator will instantly display your EMI based on this information. 

Optimistic (deflationary) scenario:

Assume that the rate of interest comes down by 1% - 3% from the present rate. Consider this situation and calculate your EMI. In this situation, your EMI will come down or you may opt to shorten the loan tenure. Ex: If you avail home loan to purchase a house as an investment, then optimistic scenario enables you to compare this with other investment opportunities.

Pessimistic (inflationary) scenario:

In the same way, assume that the rate of interest is hiked by 1% - 3%. Is it possible for you to continue to pay the EMI without much struggle? Even a 2% increase in rate of interest can result in significant rise in your monthly payment for the entire loan tenure.

Such calculation helps you to plan for such future possibilities. When you take a loan, you are making a financial commitment for next few months, years or decades. So consider the best as well as worst cases...and be ready for both. In short, hope for the best but be prepared for the worst!

How to use Moneyfy EMI calculator?

The Monefy EMI calculator is user-friendly and can help you calculate your EMI instantly. Here’s how:

1. Enter the principal amount and slide the respective bars to specify the interest rate and the tenure (months or years).

2. The estimated EMI will be displayed on your screen.


Advantages of using Moneyfy EMI Calculator

Here is why you should use the Moneyfy EMI calculator:

1. Anyone can use it for free at any time. Further, you can use it to calculate your EMIs as many times as you like.

2. The Moneyfy EMI calculator offers accurate and reliable calculations every time.

3. It helps you calculate your EMIs instantly.

Apart from loan EMI calculators, Moneyfy also offers other calculators such as the Systematic Investment Plan (SIP), Compound Interest, and Retirement fund calculator.