The EMI Calculator shows the monthly instalment for a loan before you take it — along with the total interest you will pay and the total amount the loan really costs. Enter any loan amount, interest rate and tenure, and compare offers the way a banker does.
Why does a longer tenure cost so much more?
The EMI falls as tenure grows, but interest runs on the balance for more months — so total interest climbs steeply. A 5-year personal loan can cost roughly double the interest of the same loan over 3 years, in exchange for a modest monthly saving.
Is the bank's EMI the same as this calculation?
For a standard reducing-balance loan at the quoted rate, yes — the formula is the same everywhere. Differences appear if the bank adds processing fees or insurance to the loan, or quotes a flat rate (common on some vehicle loans), which costs more than it looks.
Do I need to sign up or install anything?
No. The EMI Calculator is completely free, needs no account and nothing to install — it runs in your browser, and anything you type stays on your device.