EMI Calculator
Calculate your Equated Monthly Installment (EMI) and view a full amortization schedule — instantly, for free.
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Monthly EMI
60 monthly payments · APR 8.5%
APR equals stated rate — assumes no processing fees
Payment Breakdown
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Check My EligibilityUnderstanding EMI
EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both principal and interest so that over a specified tenure, the loan is paid off in full.
How is EMI Calculated?
The EMI calculation is based on the following formula:
- P = Principal loan amount
- R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
- N = Loan tenure in months
What is APR?
APR (Annual Percentage Rate) represents the true annual cost of a loan, including interest and any mandatory fees. For this calculator, APR equals the stated interest rate — your lender may charge processing fees (typically 0.5%–2%) that would increase the effective APR. Always ask your lender for the full APR before signing.
Disclaimer: This EMI calculator is provided for indicative and educational purposes only. The figures shown are estimates based on the inputs you provide and assume a standard reducing-balance interest calculation with no processing fees, prepayment charges, or other costs. Actual EMI, interest outgo, and total repayment amount will vary based on the lender's specific terms, disbursement date, repayment schedule, and any applicable fees. This tool does not constitute financial advice. MoneyRoute Technologies Pvt. Ltd. is not a lender, bank, or NBFC. Please consult a qualified financial advisor before making any borrowing decision. Loan approval, interest rate, and disbursal are subject to lender credit assessment and applicable RBI guidelines.