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EMI Calculator

EMI Calculator

Calculate estimate of your monthly EMI amount and interest paid with our loan EMI calculator online.

Loan Amount
100000
₹ 1,00,000
₹ 1,00,00,000
Rate of Intrest (p.a)
1
1%
30%
Loan Tenure
1
1 yr
30 yrs
Principal Amount
Total Amount
Principal Amount
Total Amount
Principal Amount
1,20,000
Total Amount
1,20,000
Monthly EMI
1,20,000

What is an EMI Calculator?

EMI stands for Equated Monthly Instalment for the loan you have taken from any bank or a financial institution. The EMI consists of the principal amount of the loan and the interest paid. Simply, EMI = Principal Amount + Interest Paid on the loan. The EMI, usually, remains fixed for the entire tenure of the loan, and it is to be repaid over the tenure on a monthly basis in the form of EMI. Our loan EMI calculator will help you calculate the monthly EMI amount.

How does an online EMI Calculator work?

Dhan EMI calculator requires you to enter the total loan amount, the rate of interest, and the loan tenure in years - that's it!. The calculator will automatically calculate the total amount paid and the monthly EMI.

P x R x (1+R)^N / [(1+R)^N-1] where,
P = Principal amount of the loan
R = Rate of interest
N = Number of monthly instalments.

The aforesaid variables along with the processing fee are needed to determine your EMI.

For example, if you take a loan of Rs 5,00,000 at a rate of interest of 11% p.a. and the tenure of the loan is 7 years, your EMI will be calculated as under (assuming a 1% processing fee):

The formula for EMI calculations can be used as follows:

EMI = 500000* 0.0091 * (1+ 0.0091)^84 = Rs. 8,561 / [(1+ 0.0091)^84 ]-1

The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 11% per annum, then R= 10/12/100 = 0.0091.

How to use the Dhan Loan EMI Calculator?

Here are a few easy steps to guide you using the calculator:

  • Ensure you have all the related data available to you.
  • Enter the variables as mentioned in the formula on their designated slots.
  • The total Amount and monthly EMI will be displayed instantly.

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