EMI Calculator
Calculate monthly EMI for any loan amount, interest rate and tenure.
Monthly EMI
₹10,624
Total interest
₹1,37,411
Total payment
₹6,37,411
Tenure
60 months
How it works
EMI (Equated Monthly Installment) is the fixed amount you pay each month on a loan. It includes both principal and interest.
Formula: EMI = P × R × (1 + R)^N / ((1 + R)^N − 1)
Know your EMI. Now track it with your monthly expenses in DhanTally.
DhanTally helps you track income, expenses, and balance in one place — every day.
Frequently asked
Does EMI stay the same?+
Yes for fixed-rate loans. For floating-rate loans the EMI or tenure can change with the rate.
How is interest calculated?+
Interest is charged on the outstanding principal each month. Early EMIs are mostly interest; later EMIs are mostly principal.
Can I prepay to reduce interest?+
Yes. Prepaying principal reduces total interest significantly, especially in early years.