Calculate EMI online instantly with our Free EMI Calculator. Enter loan amount, interest rate, and loan term to find monthly EMI, total interest, and total repayment. Works for home loans, car loans, bike loans and personal loans.
Whether you are going to purchase a house, a vehicle, or apply for a personal loan, your prior knowledge of monthly EMI (Equated Monthly Installment) facilitates better financial planning. The SEO Pheonix EMI Calculator helps you calculate EMI every month, interest paid, and payment amount easily and precisely.
EMI (Equated Monthly Installment) is the constant sum of money a borrower pays to the lender each month until the loan's repayment. It includes:
Principal Amount – The initial amount of money taken as a loan.
Interest Amount – Interest on the unpaid principal.
EMIs are used for a number of loans, such as:
Home loans
Car loans
Personal loans
Business loans
You pay the EMI to ensure the loan is paid in a predictable and organized way, allowing the borrowers to plan the monthly expenses with ease.
An EMI Calculator makes the computation of your monthly payment simple. Rather than doing the intricate calculations manually, you simply need to provide:
Loan Amount (₹) – The overall principle lent.
Annual Interest Rate (%) – The annual interest rate charged by the bank.
Loan Term (Years) – The time period of the loan.
The calculator also gives:
EMI per Month (₹)
Total Interest Payable (₹)
Total Payment (₹)
It also enables you to try out different loan amounts, rates, and terms and arrive at the optimal repayment plan.
EMI can be found using the given formula:
EMI= P×R×(1+R)N/ (1+R)N−1
Where:
P = Principal Loan Amount
R = Monthly Interest Rate = Annual Interest Rate / 12 / 100
N = Number of Monthly Installments = Loan Term × 12
Example: Emi Calculator in Months
Loan Amount = ₹5,00,000
Annual Interest Rate = 10%
Loan Term = 10 years
Step 1: Convert annual interest rate to monthly rate:
R = 10 / 12 / 100 = 0.008333
Step 2: Calculate total months:
N = 10 × 12 = 120 months
Step 3: Calculate EMI using the formula
EMI = 500000 × 0.008333 × (1 + 0.008333)^120 / ((1 + 0.008333)^120 - 1)
EMI ≈ ₹6,606 per month
Step 4: Total Payment and Total Interest
Total Payment = EMI × N = 6,606 × 120 ≈ ₹7,92,720
Total Interest = Total Payment - Principal = 7,92,720 - 5,00,000 ≈ ₹2,92,720
| Loan Amount (₹) | Interest Rate (%) | 5 Years EMI | 10 Years EMI | 15 Years EMI |
| 5,00,000 | 10 | 10,622 | 6,606 | 5,371 |
| 10,00,000 | 9 | 20,650 | 12,684 | 10,477 |
| 20,00,000 | 8.5 | 39,327 | 23,931 | 18,955 |
SEO Pheonix’s Free EMI Calculator features:
Fast and Precise Results – Abolishes human errors.
Easy Loan Planning – Prepares finances and monthly budget planning.
Compare Loan Options – Compare various loan amounts, interest rates, and tenors
Understand Total Interest – Understand how much interest you will be paying over the loan period
Mobile-Friendly – Access anywhere, anytime.
Utilized for buying residential property
Long-term loan (10–30 years)
Interest rates differ with bank and type of housing loan
Example:
Loan Amount = ₹30,00,000
Interest Rate = 8% per annum
Loan Term = 20 years
EMI ≈ ₹25,034
Get accurate results from home loan EMI calculator.
Short tenure (1–7 years)
Used for buying cars
EMI is based on principal, rate, and tenure
Example:
Loan Amount = ₹8,00,000
Interest Rate = 9% per annum
Loan Term = 5 years
EMI ≈ ₹16,549
EMI calculator car is the top used.
Typically unsecured loans
Short tenure (1–5 years)
Higher interest rates than secured loans
Example:
Loan Amount = ₹2,00,000
Interest Rate = 12% per annum
Loan Term = 3 years
EMI ≈ ₹6,655
Get results from personal loan EMI calculator.
By varying the loan term, borrowers can organize their finances efficiently:
Instant Calculation – No manual formulas needed.
Effective Interest Calculation – Eliminates errors in dividing principal-interest.
Improved Financial Planning – Choose loan term and amount based on ability to pay.
Prepayment Planning – Calculate EMI after part-payment.
Compare Banks & Loans – Try various scenarios to get the best offer.
Understanding total interest is crucial:
| Tenure | EMI (₹) | Total Payment (₹) | Total Interest (₹) |
| 5 Years | 21,250 | 12,75,000 | 2,75,000 |
| 10 Years | 13,210 | 15,85,200 | 5,85,200 |
| 15 Years | 10,140 | 18,25,200 | 8,25,200 |
Shorter tenure → Higher EMI, less total interest
Longer tenure → Lower EMI, more total interest
Example: Loan of ₹10,00,000 at 10% per annum:
The Free EMI Calculator Online by SEO Pheonix is a must-have tool for anyone planning a loan. Whether it’s a home loan, car loan, or personal loan, it helps you:
Calculate monthly EMI
Understand total interest payable
Plan your loan tenure effectively
Make informed financial decisions
Using the EMI Calculator ensures accuracy, speed, and convenience, making loan planning easier than ever.
Start calculating your EMI instantly with SEO Pheonix EMI Calculator and take control of your finances today!
EMI is the fixed monthly payment for repaying a loan, including principal and interest.
Loan Amount
Annual Interest Rate
Loan Term (Years)
No, it calculates based on principal, interest, and tenure. Fees must be added separately.
Yes, SEO Pheonix offers a free web-based online EMI Calculator which can be accessed on any device.