EMI calculator
Work out the monthly instalment on a loan, the total you repay over the full term, and how much of that total is interest.
Your loan
Excludes processing fees, insurance and other charges. Nothing you type is stored.
How this EMI calculator works
Enter the loan amount, the interest rate the lender quoted and the tenure. The calculator returns the monthly instalment, the total amount repaid across the full term and the interest portion of that total.
| Loan type | Typical tenure | What to watch |
|---|---|---|
| Home loan | 15 to 25 years | Rate resets and prepayment terms |
| Car loan | 3 to 7 years | The asset falls in value faster than the loan |
| Personal loan | 1 to 5 years | High rate; clear it before investing extra |
Judge a loan by total interest, not the EMI
Two offers with the same instalment can differ by lakhs once tenure is included. The interest figure is the honest price of borrowing.
What to do next
Read the debt guide for the order to clear borrowings in, and use the budget calculator to check the instalment fits your month before you sign.
Read personal loans versus credit cards before comparing borrowing costs. Consult RBI consumer FAQs for borrower rights. Your lender's current fees and terms matter beyond the instalment shown here.
Frequently asked questions
How is EMI calculated?
On a reducing balance: E = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r the monthly interest rate and n the number of months. Each instalment pays that month's interest first and the rest reduces the principal.
Why is early EMI mostly interest?
Interest is charged on the outstanding balance, which is highest at the start. That is also why prepaying in the first years saves far more than prepaying near the end.
Is a longer tenure better because the EMI is smaller?
It is easier month to month and more expensive overall. Stretching a loan lowers the instalment and raises total interest, sometimes dramatically. Compare both figures before choosing.
Does this include processing fees or insurance?
No. It calculates the loan itself. Add fees, insurance and any documentation charges separately when comparing offers.
Go deeper
Your next step
- See the full guideDebt — the complete guideWhich borrowing should I clear first, and what is it costing me?
- Go deeperNet worth calculatorAdd up what you own, subtract what you owe, and get the one number that matters.
Put this into your own situation. North holds your loans and card balances beside your income, so repayment order stops being a guess.
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These calculators are educational tools, not financial advice. Any figure involving an assumed rate of return is a projection, not a promise. See all North tools.