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How to Calculate Loan EMI (Monthly Installment)
Published 28 October 2026 by Adawat
EMI is the fixed amount you pay each month on a loan. It covers part of the loan and the interest.
The formula
EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the number of months.
A worked example
For a loan of 100,000 at 6 percent a year over 5 years, r is 0.005 and n is 60. The EMI is about 1,933.28 per month, so you repay about 115,997 in total.
Use the calculator
- Open the Loan EMI calculator.
- Enter the loan amount, interest rate and term.
- Read the monthly installment and the total you will repay.
Banks may add fees or use a different method, so treat the result as an estimate and confirm with your lender.
Try it now: Loan EMI calculatorOpen the tool