EMI Calculator
Estimate your monthly instalment, total interest and total payment for any loan. Move the sliders to see exactly how the amount, interest rate and tenure change what you pay each month — and over the whole loan.
EMI calculator
Adjust the loan amount, interest rate and tenure to see your monthly instalment, total interest and total amount payable. Figures are indicative.
Annual reducing-balance rate, as quoted by your lender.
- Principal50%
- Interest50%
Monthly EMI
₹11,054
over 180 monthly installments
Principal amount
₹10,00,000
50.3% of total payment
Total interest
₹9,89,718
49.7% of total payment
Total amount payable
₹19,89,718
principal + interest
Indicative only. Your final EMI depends on the lender's rate and terms. Checking offers won't affect your credit score.
Plan your repayment in four steps
The calculator updates live as you drag each slider, so you can find a monthly instalment that fits your budget before you apply.
Enter your loan amount
Set the principal you plan to borrow — anything from a small personal loan to a large home loan.
Set the interest rate
Use the annual reducing-balance rate your lender quotes. Even a 0.5% change moves the EMI noticeably.
Choose your tenure
A longer tenure lowers the monthly EMI but increases the total interest you pay over the loan.
Read your breakdown
See the monthly EMI, total interest and total payable, plus the principal-vs-interest split.
How EMI is calculated
PakkaLoan uses the standard reducing-balance method that banks and NBFCs in India use, so the estimate mirrors a real amortising loan.
Every month your instalment is split between interest on the outstanding balance and a repayment of principal. As the balance falls, the interest portion shrinks and more of each EMI goes towards clearing the loan.
Because the rate compounds monthly, a small change in the interest rate or a longer tenure can add a surprising amount to the total interest — the figure worth watching alongside the monthly EMI.
EMI formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- PPrincipal — the loan amount you borrow.
- rMonthly interest rate = annual rate ÷ 12 ÷ 100.
- nNumber of monthly instalments = tenure in years × 12.
Totals follow from the EMI: total payable = EMI × n, and total interest = total payable − principal.
EMI calculator FAQs
EMI stands for Equated Monthly Instalment — the fixed amount you repay your lender every month until the loan is fully paid off. Each EMI covers part of the interest and part of the principal, so the outstanding balance reduces month after month.
This calculator uses the standard reducing-balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments (tenure in years × 12).
Yes. Spreading the same loan over more months lowers each monthly instalment, but because you are borrowing for longer you end up paying more total interest. The calculator shows both numbers so you can balance affordability against total cost.
No. The result is indicative and assumes a fixed reducing-balance rate for the whole tenure. Your actual EMI depends on the lender's approved interest rate, processing fees, insurance and any rate changes. Always confirm the figure in your loan agreement.
The donut shows what share of your total payment is the money you borrowed (principal) versus the cost of borrowing it (interest). For long, higher-rate loans the interest share can be large, which is why comparing offers matters.
Related calculators
- Balance Transfer CalculatorSimulate moving a loan to a lower rate and see your total and monthly savings.Open
- Machinery Loan CalculatorWork out EMIs and a full amortisation schedule for equipment and machinery loans.Open
- Tractor Loan EMI CalculatorCalculate EMIs and repayment breakdown for a tractor or farm-equipment loan.Open
Found an EMI you're comfortable with?
Compare real offers from partnered banks and NBFCs in one application — checking won't affect your credit score.