EMI Calculator & No-Cost EMI Checker
How to use the EMI calculator
Enter the loan amount, the yearly interest rate and the tenure. You can type the tenure in months or in years. The calculator shows your monthly EMI, the total interest and the total amount you will repay. The bar shows how much of the total goes to the loan itself and how much goes to interest.
EMI formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of months.
Example
For a loan of ₹1,00,000 at 10% per year for 12 months, the EMI is about ₹8,791.59. You repay ₹1,05,499.06 in total, which means about ₹5,499.06 is interest.
What is a no-cost EMI?
In many "no-cost EMI" offers the interest is not shown as a separate charge. Instead the store may remove an upfront discount, add a processing fee, or charge more through the EMI amount. The checker compares the cash price you could pay today with what the EMI plan adds up to, and estimates the yearly interest rate hidden in it. For example, if the cash price is ₹30,000 and you pay 6 EMIs of ₹5,250, you pay ₹1,500 more, which works out to roughly 17% per year.
These are estimates. Banks and stores may add taxes or fees, so always check the final order summary. Before you buy, compare prices on our deals page.
Questions
Which price should I enter in the checker?
Enter the lowest price you could pay in full today, including any instant offers you would lose by choosing EMI.
Does this tool store my numbers?
No. Everything is calculated in your browser.