Use this free EMI calculator to work out the monthly instalment, total interest and total cost of a home loan, car loan or personal loan, and to simulate pre-payments and mid-tenure interest-rate changes.
Rate-change impact simulator
See what a mid-tenure interest-rate change does to your EMI and total interest.
How this works
EMI uses the standard reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r the monthly rate (annual rate / 12 / 100) and n the number of months. Pre-payments reduce principal directly, saving all future interest on that amount. Estimates only; confirm exact figures with your lender.