Loan & EMI Calculators 2026

Understanding loans and EMI

A loan lets you borrow money and repay it over time with interest. EMI (Equated Monthly Installment) is the fixed amount you pay each month. It includes both principal and interest. Knowing your EMI before you borrow helps you plan your budget and compare offers from different lenders.

EMI calculation formula

The standard formula for EMI is: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the principal (loan amount), R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the tenure in months. This formula is used for reducing-balance loans, which is the norm for home loans, car loans, and personal loans.

Typical loan interest rates

Tips for lower EMI and total interest

• Make a larger down payment to reduce the principal.
• Improve your credit score to get a lower interest rate.
• Compare rates and fees from multiple banks and lenders.
• Choose a shorter tenure if you can afford a higher EMI to save on total interest.
• Make prepayments when possible to reduce principal and interest.

Use our loan calculators

Use our free EMI calculator, home loan calculator, and other loan tools to see your monthly payment, total interest, and total amount payable. Enter your loan amount, interest rate, and tenure to get instant results. No signup required.