EMI calculator
Work out the monthly instalment on any loan. It runs in your browser; nothing is sent anywhere.
How EMI is calculated
The standard reducing-balance formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. Early EMIs are mostly interest; later ones are mostly principal.
Lenders may add processing fees, insurance or GST that this doesn't include. Your loan agreement's Key Fact Statement shows the full cost as an annual percentage rate.
Common questions
Does paying early reduce my EMI or my tenure?
Either, depending on what you ask the lender for. Keeping the EMI and cutting the tenure usually saves more interest.
Can a lender charge me for prepaying?
Not on floating-rate loans to individuals for non-business purposes: RBI bars banks and NBFCs from charging prepayment or foreclosure penalties on those. Fixed-rate and business loans can carry a charge, so check your loan agreement.
For lenders: ZyroAI Loan Management runs EMI schedules, collections and DPD tracking in one system.