EMI Calculator

    Calculate your monthly EMI for Home Loan, Car Loan, or Personal Loan.

    Input Details

    ₹
    %
    Yr

    Result

    Monthly EMI₹0
    Principal Amount₹1,000,000
    Total Interest₹0
    Total Amount Payable₹0

    What is an EMI Calculator?

    An EMI (Equated Monthly Installment) Calculator is a financial tool that helps you calculate the fixed monthly payment you need to make towards your loan repayment. EMI consists of both principal and interest components, and our calculator helps you understand the total cost of borrowing, including the total interest payable over the loan tenure.

    Whether you're planning to take a home loan, car loan, or personal loan, our EMI Calculator gives you instant results showing your monthly EMI, total interest payable, and total amount to be repaid. This helps you plan your finances, compare different loan options, and choose the best loan tenure and amount that fits your budget.

    How is EMI calculated?

    The formula for EMI calculation is: E = P × r × (1+r)^n / ((1+r)^n - 1)

    Where:
    E = EMI (Equated Monthly Installment)
    P = Principal Loan Amount
    r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
    n = Loan tenure in months

    Factors Affecting EMI

    • Loan Amount: Higher loan amount results in higher EMI
    • Interest Rate: Lower interest rates reduce your EMI and total interest burden
    • Loan Tenure: Longer tenure reduces EMI but increases total interest payable
    • Type of Interest: Fixed vs floating rates can affect your EMI over time

    Advantages of Using Braihn's EMI Calculator

    • ✓
      Accurate EMI Calculation

      Get precise EMI amounts using the standard EMI formula used by banks and financial institutions.

    • ✓
      Total Cost Visualization

      See the complete breakdown of principal, interest, and total amount payable through interactive charts.

    • ✓
      Loan Comparison

      Compare different loan options by adjusting loan amount, interest rate, and tenure to find the best fit.

    • ✓
      Budget Planning

      Plan your loan amount and tenure based on your monthly budget and repayment capacity.

    • ✓
      Free & Instant Results

      Calculate EMI for home loans, car loans, personal loans instantly without any registration or cost.

    Frequently Asked Questions

    What is the difference between reducing balance and flat rate interest?

    Reducing balance method (used in our calculator) calculates interest on the outstanding principal, reducing over time. Flat rate calculates interest on the original principal throughout the tenure. Most loans use reducing balance method.

    How can I reduce my EMI?

    You can reduce EMI by: (1) Negotiating a lower interest rate, (2) Increasing the loan tenure, (3) Making a larger down payment to reduce loan amount, or (4) Making part prepayments to reduce principal.

    Should I choose a longer or shorter loan tenure?

    Longer tenure reduces EMI but increases total interest. Shorter tenure increases EMI but saves on interest. Choose based on your monthly cash flow and ability to pay higher EMIs.

    Can I prepay my loan to reduce EMI?

    Prepayment reduces the principal, which can either reduce your EMI (if you opt for EMI reduction) or reduce your loan tenure (if you keep EMI same). Some lenders charge prepayment penalties.

    What is the ideal EMI to income ratio?

    Financial experts recommend that your total EMI should not exceed 40-50% of your monthly income. This ensures you have enough funds for other expenses and emergencies.

    Need Help with Loan Planning?

    Connect with verified financial advisors on Braihn who can help you with loan selection, EMI planning, and all your loan-related queries.

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