Calculate Equated Monthly Installment from principal, rate, and tenure

What Is an EMI?

Equated Monthly Installment is the fixed amount a borrower pays each month — constant across the entire loan term. Early months pay mostly interest; later months pay mostly principal. The underlying math is the standard amortization formula used by most fixed-rate consumer loans worldwide.

How EMI Differs From Other Loan Payments

EMI is just the term used in South Asian and some markets for what the calls a monthly loan payment. The calculation is identical: principal times rate times (1 plus rate) to the power of tenure, divided by ((1 plus rate) to the power of tenure minus 1). Switching between EMI and standard amortization terminology does not change the number.

A worked example

Try the defaults: loan principal of 100,000, annual interest rate of 9, tenure in months of 60. The tool returns 2,075.84. You can adjust any input and the result updates as you type — no submit button, no reload. That's the real power here: seeing how sensitive the output is to one or two assumptions.

What moves the number most

The result responds to Loan Principal, Annual Interest Rate, and Tenure in Months. Not every input has equal weight. Flip one at a time toward extreme values to feel which ones move the needle most for your situation.

The formula behind this

Applies the standard amortization formula. Total repayment is EMI times tenure; total interest is total repayment minus principal. Results are estimates for illustration purposes only. Everything the calculator does is shown in the formula box below, so you can check the math against your own spreadsheet if you want.

Using this to stay on track

The most common failure mode isn't the plan itself — it's letting the balance creep back up while you're paying it down. Set a rule: no new debt added to the same account until the balance is zero. The calculator is only useful if the number it shows doesn't keep resetting.

What this doesn't capture

Real payoff journeys include missed payments, fee changes, balance transfers, and promotional rates that reset. The calculation assumes a steady plan; reality is rarely that clean. Use the figure as the best-case plan against which actual progress gets measured.