EMI Calculator

How it’s calculated

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)

P = loan amount
r = yearly interest rate ÷ 12 ÷ 100
n = tenure in months

Example: ₹20,00,000 at 8.5% for 20 years (240 months) gives an EMI of ₹17,356. Over the full term you pay ₹21,65,552 in interest on top of the loan.

This is the standard reducing-balance method banks use. Processing fees, insurance and prepayments are not included.