Calculate EMI and the total cost of a loan
An EMI is an equated monthly instalment: a regular payment containing interest and principal. This reducing-balance calculator shows the payment, yearly repayment schedule and total purchase cost, including your down payment.
- Choose an illustrative loan preset or enter your own total purchase price.
- Set the down payment, annual interest rate and loan tenure.
- Review monthly EMI, total interest, total repayments and the remaining balance by year.
The calculation
Common questions
Does a bigger down payment reduce EMI?
For the same price, interest rate and tenure, a larger down payment reduces the principal borrowed, the EMI and the total interest.
Are processing fees and prepayments included?
They are not modeled separately. Include upfront purchase costs in the price where appropriate; use the actual lender’s schedule to assess fees, rate changes and prepayments.
Can I check whether an EMI fits my budget?
Public calculations need no account. In the signed-in app, available transaction averages add a comparison with recorded income, savings and spending. This is a contextual estimate, not a lending decision.