Calculate your monthly loan EMI, total interest and total payment.
An EMI (Equated Monthly Instalment) is the fixed amount you pay every month on a loan. Enter your loan amount, annual interest rate and tenure to see your monthly EMI, the total interest you'll pay, and the total repayment — for a home loan, car loan or personal loan.
EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is monthly interest and n is months. This tool computes it instantly.
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay.