Money & Career

EMI / Loan Calculator

Plan education loans, phone EMIs, or a first personal loan. Enter principal, annual interest rate, and tenure to see monthly EMI and total interest.

Results

Monthly EMI —

Total payment —

Total interest —

Interest as % of total —

How it works

Equated Monthly Installments keep the payment constant while the interest share falls over time. Students often underestimate total interest on long education loans — this view makes the cost visible before you sign.

Formula

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r = annual rate/12/100 and n = months. If rate = 0, EMI = P / n.

Examples

₹3L gadget / course loan

₹3,00,000 at 11% for 36 months → EMI ≈ ₹9,830; total interest roughly ₹54,000 depending on exact day-count conventions.

Shorter tenure trade-off

Same principal at 11% for 24 months raises EMI but cuts total interest meaningfully. Compare both before committing.

FAQs

Does this match my bank EMI exactly?

Banks may use slightly different day-count or fee structures. Use this as a planning estimate, then confirm with the lender’s schedule.

Can I model a moratorium?

Not in this version. During a student-loan moratorium, interest may still accrue — ask your lender how capitalization works.

What EMI is safe on a first salary?

A common planning heuristic is keeping total EMIs under ~30–40% of take-home. Pair this with the take-home salary calculator.

← All calculators