Loan calculators
Real reducing-balance math — move any slider and the numbers below update instantly. No sign-up, no phone number required.
Standard reducing-balance EMI formula. Change any value to recalculate instantly.
This is a mathematical estimate only, based on the amount, rate and tenure you enter — it does not reflect any pre-approved offer.
Apply for this loanUnderstanding your EMI
An EMI, or Equated Monthly Instalment, is the fixed amount you pay each month until your loan is fully repaid. Every EMI is split between interest and principal — early in the loan, more of it goes toward interest; later, more goes toward principal.
The calculator above uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1], where P is your loan amount (principal), r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments. This is the same formula lenders use internally, so the estimate closely mirrors what you'd see in a real loan schedule.
Three levers
Only three inputs decide your monthly payment. Here's what happens when you move each one.
A larger principal increases your EMI roughly proportionally — borrowing twice as much, at the same rate and tenure, roughly doubles your monthly payment.
Even a small rate difference compounds over a long tenure. A 2% higher rate on a multi-year loan can add up to a noticeably higher total interest paid.
A longer tenure lowers your monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure does the opposite.
Tips
A few things worth checking before you commit to a tenure and amount.
As a general guideline, many lenders look for total monthly EMI obligations (across all loans) to stay under roughly 40% of your take-home income.
Try the slider at both a shorter and longer tenure for the same amount — compare the "total interest payable" figure, not just the monthly EMI.
The EMI calculator shows principal and interest only. Add the processing fee shown in our fee disclosure to see your true upfront cost.
Prepaying even a small lump sum early in the loan can reduce your total interest meaningfully, since more of each EMI is interest early on.
FAQs
It's a close mathematical estimate based on the reducing-balance formula, using the amount, rate and tenure you enter. Your actual EMI depends on the final rate you're offered after credit assessment, which may differ from the illustrative rate you tested here.
No — it calculates principal and interest only. Processing fees, insurance premiums (if opted for), and other charges are shown separately in the fee disclosure table on our loan products page.
Spreading the same loan amount over more months lowers each individual instalment, but you're paying interest for a longer period overall, so the total interest paid over the life of the loan increases.
Yes — the formula is the same regardless of loan purpose. Just set the amount, rate and tenure that match the loan type you're considering; indicative ranges for each loan type are listed on our loan products page.