EMI Calculator India – Calculate EMI in Rupees (₹)
An EMI calculator for India helps you find your equated monthly installment in rupees. Whether you're planning a home loan, personal loan, or car loan, enter the loan amount (in ₹), annual interest rate, and tenure in years. Banks and NBFCs in India use the same EMI formula. This article explains how EMI works and links to our EMI calculator—select INR in the currency dropdown for amounts in rupees.
Quick Answer
| Label | Value |
|---|---|
| Loan amount | ₹5,00,000 |
| Rate | 10% |
| Tenure | 5 years |
| EMI (monthly) | ₹10,623.52 |
How It Works
EMI = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal (loan amount in ₹), r is monthly interest rate (annual ÷ 12 ÷ 100), and n is number of monthly installments. For a ₹5 lakh loan at 10% for 5 years, the EMI is about ₹10,624 per month. Early EMIs are mostly interest; as principal reduces, more goes toward principal. Use our EMI Calculator with currency set to INR for your own numbers.
Additional Notes
For home loans in India, rates and tenures vary by bank and scheme. Our calculator works for any currency—choose Indian Rupee (INR) in the header.
Use Our Calculator
Try our EMI Calculator for your own numbers: /calculators/emi-calculator
Related Calculators
The same formula is used by all banks and NBFCs: EMI = P × [r(1+r)^n] / [(1+r)^n − 1], with P in rupees, r as monthly rate, n as months.
Use our EMI Calculator with INR selected. For ₹10 lakh at 9% for 20 years, the EMI is approximately ₹8,997 per month.
No. The result is principal and interest only. Banks may charge processing fees and GST separately.