EMI Calculator — plan your loan with confidence
Calculate the monthly EMI, total interest and year-wise repayment schedule for any loan in seconds.
The formula
How is EMI calculated?
EMI (Equated Monthly Instalment) is the fixed amount you pay every month until your loan is repaid. It is calculated using:
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]
- P — PrincipalThe loan amount you borrow.
- r — Monthly interest rateAnnual rate ÷ 12 ÷ 100. For 9% p.a., r = 0.0075.
- n — Number of instalmentsTenure in months. For 20 years, n = 240.
Smart tips
Lower your EMI burden
Improve your credit score
A CIBIL score above 750 can unlock noticeably lower interest rates.
Make a larger down payment
Borrowing less reduces both your EMI and total interest paid.
Prepay when you can
Part-prepayments early in the tenure save the most interest.
Found an EMI that works for you?
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