EMI & Loan Calculator
Work out the monthly instalment on a business or personal loan, and what the interest actually costs you over the full term.
Free · no account · calculates in your browser
Your numbers
Monthly EMI
₹16,607
- Total interest
- ₹97,858
- Total repayable
- ₹5,97,858
How this is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months.
Assumes a fixed rate and equal instalments. Processing fees, insurance and prepayment charges are not included.
Worked example
| Loan amount | ₹5,00,000 |
|---|---|
| Interest rate (per year) | 12 % |
| Tenure | 36 months |
| Monthly EMI | ₹16,607 |
| Total interest | ₹97,858 |
| Total repayable | ₹5,97,858 |
Formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months.
Frequently asked questions
How do I calculate EMI & loan?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months. For example, with loan amount of ₹5,00,000, interest rate (per year) of 12 %, tenure of 36 months, the monthly EMI is ₹16,607.
What does this EMI & loan calculator not include?
Assumes a fixed rate and equal instalments. Processing fees, insurance and prepayment charges are not included.
Is this EMI & loan calculator free?
Yes. It is free, needs no account, and calculates in your browser — the numbers you enter are not sent to LaunchGrid.
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What people use this for
- Size a business loan
- Compare tenure options
- See the real cost of interest