EMI Calculator
Calculate monthly EMI, total payment and total interest with a repayment summary.
What is the EMI Calculator?
An EMI (Equated Monthly Instalment) calculator shows what a loan will cost you each month, and in total, before you commit. Give it the loan amount, the annual interest rate and how many months or years you will take to repay, and it breaks down the fixed monthly payment, how much of the total is interest, and the full amount repaid. It is useful for home, car, personal and education loans — anytime you want to sanity-check affordability rather than trust a salesperson.
How to use the EMI Calculator
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the tenure in months or years.
- View your monthly EMI, total interest and total payment.
Why use Quably's EMI Calculator?
- Monthly EMI at a glance
- Shows total interest and total repayment
- Works for any loan type
- Helps you compare offers
- Free and instant
EMI Calculator formula
EMI = [P × r × (1 + r)^n] ÷ [(1 + r)^n − 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
Example
A ₹5,00,000 loan
At 10% for 5 years (60 months), the EMI comes to about ₹10,624 a month, with roughly ₹1.37 lakh paid in interest overall.
Frequently asked questions
How is EMI calculated?
It uses the standard reducing-balance formula based on the loan amount, the monthly interest rate and the number of instalments.
What is included in the total payment?
The total payment is your loan amount plus all the interest over the full tenure.
Does a longer tenure reduce my EMI?
Yes — a longer tenure lowers the monthly EMI but usually increases the total interest you pay.
Is the EMI calculator free?
Yes, free with no sign-up.