Planning tool
Loan EMI Calculator
Work out what a loan would cost you every month before you apply. Adjust the amount, the assumed interest rate and the tenure to see how the instalment and the total interest change.
EMI estimator
Estimated monthly EMI
₹22,244
- Principal
- ₹10,00,000
- Total interest
- ₹3,34,667
- Total repayment
- ₹13,34,667
Estimated calculation only. Actual interest rate, tenure, charges and eligibility depend on the lender and your profile.
How to read the result
The EMI is fixed only if the interest rate is fixed. On a floating-rate loan the instalment or the tenure changes when the benchmark rate moves. Processing fees, insurance, stamp duty and legal or valuation charges on secured loans are not included in this estimate.
Lenders also look at your existing obligations. If your EMIs across all loans take up a large share of your monthly income, the amount sanctioned may be lower than the figure you calculated here, even at the same rate.
Common questions
How is EMI calculated?
EMI is calculated on a reducing-balance basis using the loan amount, the monthly interest rate and the number of monthly instalments. The same formula is used by most lenders for term loans.
Is this the rate I will actually get?
No. The interest rate you enter is an assumption. The actual rate, tenure, processing fee and sanctioned amount are decided by the lender based on its own credit assessment of your profile.
Does a lower EMI mean a cheaper loan?
Not necessarily. A longer tenure lowers the EMI but increases the total interest paid over the life of the loan. Compare the total repayment figure, not only the monthly instalment.
Instant Loan Solutions provides loan assistance and application support. Final approval, sanctioned amount, interest rate and tenure are decided by the lender based on its own eligibility and credit assessment.
Want a realistic view of your eligibility?
Share your requirement and we will explain what lenders typically look at for your profile before you apply.