EMI calculator

What will the EMI be?

Verified 20 May 2026, 05:30 am IST

A quick way to size up the monthly outflow before you walk into a bank. Defaults assume a typical mid-range car loan in 2026; tweak any field to match your situation.

Pricing context: Mumbai

Monthly EMI
₹21,002
Loan amount
₹10,00,000
Total interest
₹2,60,112
Total payable
₹12,60,112

Indicative only. Banks compute interest daily and apply processing fees not modelled here.

How the math works

We use the standard amortising formula: EMI = P × r × (1+r)n / ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate (annual ÷ 12 ÷ 100), and n is the tenure in months.

What this does not model

  • Processing fees. Add 0.5–1% of the loan to your down payment.
  • Insurance and registration. These are usually paid up front, not financed.
  • Prepayment. Most floating-rate loans allow free part-prepayment after 12 months.
  • Step-up EMIs. Banks sometimes back-load instalments for young borrowers.

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