EMI Calculator For Loans

Plan your monthly instalments better using our loan calculator.

About Loan EMI Calculator

The prerequisite to borrowing any type of loan, secured, or unsecured, is to find out the EMI payable and interest liabilities against it. An EMI calculator is the perfect tool to compute the required values. Available on lending institutions’ official portals and on third-party websites, such calculators derive equated monthly instalments by using just three sets of information.

How to calculate EMIs with an online EMI calculator?

Follow these steps to calculate EMI using an online EMI calculator:

  • Enter your preferred loan amount.
  • Input the interest rate offered.
  • Specify the loan tenure in months or years.

The calculator will compute your EMIs within a few seconds. The online EMI calculator also shows the breakdown of the principal and interest amounts while calculating the EMI and the total cost of borrowing.

Formula to calculate EMI amount

EMI = [P x R x (1 + R)^N] / [(1 + R)^N - 1]


P = Principal loan amount,

r = Monthly interest rate (annual rate divided by 12),

n = Total number of payments (loan tenure in months).

Factors affecting the due amount

The due amount on a loan is influenced by several factors such as:

  • The principal amount borrowed
  • The interest rate applied
  • Loan term
  • Additional fees or charges
  • Repayment frequency
  • Terms of the loan agreement such as refinancing or modifications
  • Economic conditions

Different types of EMI calculators

  • Personal loan EMI calculator: It is intended to assist individuals in determining their monthly repayments for personal loans.
  • Home loan EMI calculator: It helps potential homeowners estimate their monthly mortgage payments.
  • Car loan EMI calculator: It performs a similar function but is tailored to car loans.
  • Business loan EMI calculator: It assists entrepreneurs and businesses in calculating monthly payments for business-related loans.
  • Doctor loan EMI calculator: It supports medical professionals in generating payback schedules for loans tailored to their specific needs.
  • Loan against securities EMI calculator: It assists customers in determining EMI payments for loans backed by financial assets. 

Benefits of using an online loan EMI calculator

Using an EMI calculator in India offers a range of substantial benefits, including:

  • Immediate and accurate results: The tool delivers precise EMI calculations instantly, sparing borrowers from cumbersome manual computations.
  • Transparent financial planning: It promotes transparency by providing a clear overview of monthly payments, allowing individuals to anticipate and plan their financial obligations accurately.
  • Facilitates informed decisions: By allowing easy comparison between various loan options, it empowers borrowers to make informed decisions, choosing terms and conditions that align with their financial capabilities.


Results generated by the calculator(s) are indicative in nature. The interest rate applied on the loan will depend on the prevailing rates at the time of loan booking.

The calculator(s) is not intended to provide its users/ customers with results that are either certified by Bajaj Finance Limited (“BFL”) or are an obligation, assurance, warranty, undertaking or commitment, financial and professional advice by BFL, under any circumstances. The calculator(s) is only a tool that assists the users/ customers arrive at the results of various illustrative scenarios generated from data input by the user/ customer. The use of the calculator is entirely at the risk of the user/ customer, BFL is not responsible for any reason, for any errors in any outcome resulting from the use of the calculator.

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Frequently asked questions

What is an EMI?

EMI stands for equated monthly instalments. It is the monthly amount that you will have to pay when opting for any type of loan. The entire loan amount, along with interest liabilities, is broken down into smaller monthly sums. Knowing the EMI due and interest obligations associated with any loan, secured or unsecured, is a must before borrowing. The tenure, principal, and interest rate charged are crucial parameters for EMI computation. To calculate the necessary values, a monthly EMI calculator is the ideal device. Besides EMI and interest outgo, EMI calculators also estimate the amortisation schedule for a loan.

How to calculate loan EMI?

The EMI calculation formula to calculate loan EMI is as follows:
EMI = P x R x (1+R)^N / [(1+R)^N-1], where P is the principal, R is the rate of interest, and N is the tenure.

Enter the principal, tenure, and rate of interest to calculate the EMIs payable, and total interest payable and get a detailed amortisation schedule.

What is the amortisation schedule?

The amortisation schedule is a table or a schedule that shows how the loan's principal and interest are split up each month over the tenure of the loan.

What are the factors affecting your personal loan due amount?

The following factors influence your personal loan due amount:

  • Tenure of the loan - A loan’s tenure can be reduced or extended at the borrower's choice. When you choose a longer tenure, your EMIs will be lower and, vice versa.
  • Rate of interest – The interest rate is an important consideration when calculating your personal loan EMIs. A reduced interest rate can help in keeping the repayment low.
  • Loan amount – The amount of the loan is a major factor in determining your monthly EMIs. When you choose a larger loan amount, your EMIs will be higher, and conversely, EMIs will be low when you borrow a lower amount.
What happens if I fail to make an EMI payment?

Failing to make an EMI payment can result in incurring late fees, and a negative impact on your credit score. Utilising online EMI calculators or monthly EMI calculators prior to making a purchase can prevent this. They will help you plan repayments effectively, ensuring you make timely payments and maintain financial stability.

What is the EMI for a loan of Rs. 5 lakh?

The interest rate and loan tenure you choose will determine the EMI for a loan of Rs. 5 lakh. You can make use of our personal loan EMI calculator to find a monthly instalment and tenure that works for you. Simply enter your preferred loan amount, interest rate, and loan tenure to receive an estimated EMI calculation based on your selections.

How to calculate my EMI for 2 years?

The loan amount and interest rate you choose will determine the EMI for a period of two years. You can benefit from our online EMI calculator and obtain precise results. Simply input your desired loan amount, interest rate, and loan tenure into the monthly EMI calculator to obtain an estimated EMI based on your preferences.

Can I calculate EMI for all types of loans with the online EMI calculator?

Yes. you can compute your monthly EMIs for various types of loans using an online loan EMI calculator. Using an EMI calculator is simple. Use the slider to select the loan amount you wish to borrow, the repayment term and the loan interest rate quoted. Once you have selected these three inputs, your EMI will be displayed on the screen.

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