EMI formula
For a standard amortising loan, EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1], where P is principal, r is the monthly interest rate and n is the number of monthly payments. A longer tenure generally lowers the monthly EMI but can increase total interest.
What is not included?
Processing fees, insurance, late charges, prepayments and floating-rate resets may change the actual cost. Ask the lender for the repayment schedule and check all charges before accepting an offer.
Important limitations
The estimate assumes a constant rate and regular monthly instalments. Fees, insurance, rate resets and lender-specific terms may not be included.
Frequently asked questions
Are the results guaranteed?
No. They are estimates based on the values entered and the assumptions described above. Actual outcomes may differ.
Does this include every fee and tax?
No. Review the explanation for this calculator and verify product-specific costs, tax treatment and current rules separately.
What should I do next?
Compare more than one scenario, confirm the inputs and check important figures with the relevant institution or official source before making a financial decision.
For educational and planning purposes only. Not financial, investment or tax advice. Verify current rates, terms and rules before acting.