EMI stands for Equated Monthly Installment. It is the fixed amount you pay each month to repay a loan, consisting of both principal and interest components.

Free Tool · Instant Results

EMI Calculator

Calculate your loan EMI for home loans, car loans, personal loans, and business loans. Get monthly EMI, total interest, and total payment instantly.

Loan Amount ₹10,00,000

Interest Rate (per year) 9.5%

Loan Tenure 15 Years

Monthly EMI

₹10,442

Equated Monthly Installment

Principal Amount ₹10,00,000

Total Interest ₹8,79,560

Total Payment ₹18,79,560

Calculate EMI for Any Loan Type

Use Bizmitra's EMI Calculator for any loan — adjust the values above to match your scenario.

🏠

Home Loan

For house purchase or construction

🚗

Car Loan

New or used vehicle financing

💼

Business Loan

Working capital and expansion

👤

Personal Loan

For any personal need

🎓

Education Loan

Higher studies in India or abroad

🏆

Gold Loan

Loan against gold ornaments

How EMI is Calculated

The standard EMI formula used by all banks and NBFCs in India.

EMI Formula

EMI = P × R × (1+R)^N / [(1+R)^N − 1]

P = Principal loan amount · R = Monthly interest rate · N = Loan tenure in months

Why Use Bizmitra EMI Calculator?

The most accurate and easy-to-use loan EMI calculator for Indian borrowers.

⚡

Real-Time Calculation

EMI updates instantly as you adjust the loan amount, interest rate, or tenure sliders.

💯

100% Accurate

Uses the standard EMI formula followed by all major banks and NBFCs in India.

📊

Full Breakdown

See your principal, total interest, and total payment in one clear view.

🆓

Forever Free

No registration, no hidden fees, no usage limits. Calculate as much as you want.

📱

Works Everywhere

Fully responsive design for desktop, tablet, and mobile users.

🔒

Privacy First

All calculations happen in your browser. No data is sent or stored.

Manage Business Loans with Bizmitra ERP

Track loan EMIs, interest expenses, and repayment schedules directly in your accounting software. All in one place.

Try Bizmitra Free →

FAQ

Frequently Asked Questions

What is EMI? +

EMI stands for Equated Monthly Installment. It is the fixed amount you pay each month to repay a loan over a chosen tenure. Each EMI consists of two parts — principal repayment and interest payment.

How is EMI calculated? +

EMI is calculated using the formula: 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 divided by 12 then by 100), and N is the... Read More →

Which loans can I calculate EMI for? +

You can use this calculator for any type of loan including home loans, car loans, personal loans, business loans, education loans, and gold loans. The math works the same for all standard reducing-bal... Read More →

What factors affect my EMI? +

Three main factors affect your EMI: (1) Loan amount — higher principal means higher EMI, (2) Interest rate — higher rates increase EMI, and (3) Loan tenure — longer tenure reduces monthly EMI but incr... Read More →

Can I prepay my loan to reduce EMI? +

Yes, most banks allow loan prepayment. You can either reduce your EMI while keeping tenure same, or keep EMI same and reduce tenure. Some loans may have prepayment charges — check your loan agreement. Read More →

Is this EMI Calculator free? +

Yes, the Bizmitra EMI Calculator is 100% free to use. No registration, no signup, no hidden charges. Use it as often as you need.