How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of months.
Free tool
EMI calculator
Know your monthly loan payment before you borrow. Works for home, car, shop and personal loans.
Monthly EMI
₹8,884.88
Total interest
₹6,618.55
Total payment
₹1,06,618.55
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Common questions
What is the EMI for ₹1,00,000 at 12% for 12 months?
About ₹8,885 per month. Total interest is about ₹6,619.
Does a longer tenure reduce EMI?
Yes, the monthly EMI goes down, but the total interest you pay goes up.
Does this work for any currency?
Yes. The formula is the same in every country; just read the amounts in your own currency.