How to use EMI Calculator?
Using our Loan EMI Calculator is simple. Just enter the loan amount you want to borrow, the interest rate offered by the bank, and the time (tenure) for which you want the loan. Our tool will instantly show you your monthly installment.
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay back to the lender every month until your loan is fully paid off. It consists of both the principal amount and the interest.
Formula used: EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where P = Principal, R = Monthly Interest Rate, N = Tenure in months.
Latest Loan Rates in India 2026
- Home Loan: Range between 8.5% to 9.5% per annum.
- Car Loan: Typically between 9% to 11% depending on the bank.
- Personal Loan: Can vary from 11% to 18% based on credit score.