EMI Calculator
See what a loan will actually cost you every month — and over its whole life — before you commit to anything.
Indicative only. This calculator is a planning tool, not a sanction, commitment or offer of credit. Your actual rate, fees and eligibility are confirmed after appraisal, as per prevailing Government norms.
Apply with these figuresThe formula behind the number
An equated monthly instalment keeps your payment constant for the whole tenure. Early instalments are mostly interest; later ones are mostly principal. The standard formula is:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P is the principal, r is the monthly interest rate (annual rate divided by twelve, then by a hundred), and n is the number of monthly instalments. This calculator uses exactly that formula on a reducing-balance basis.
One consequence is worth understanding before you borrow: stretching the tenure lowers the monthly figure but raises the total interest, sometimes considerably. Move the tenure slider and watch the total payable line rather than the EMI line.
Shorter tenure, lower total cost
A longer tenure eases the month but costs more overall. Borrow for the shortest period you can comfortably service.
Keep total EMIs under 40 to 50% of income
Add every instalment you already pay. If the total crosses about half your take-home income, reduce the amount rather than the scrutiny.
Look past the EMI to the fees
Processing fees, documentation and insurance affect the real cost. Ask for every charge in writing before signing.
Secured beats unsecured on price
If you hold gold or property, a secured loan will almost always cost less than an unsecured one of the same size.
What a longer tenure really costs
The same loan of ₹5,00,000 at 12% per annum, repaid over three different periods.
| Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|
| 3 years (36 months) | ₹16,607 | ₹97,858 | ₹5,97,858 |
| 5 years (60 months) | ₹11,122 | ₹1,67,333 | ₹6,67,333 |
| 10 years (120 months) | ₹7,174 | ₹3,60,826 | ₹8,60,826 |
Doubling the tenure from five years to ten reduces the instalment by around a third — and more than doubles the interest you hand over. Both facts are worth knowing before you choose.
About this calculator
Is this my final EMI?
No. It is an estimate based on the three figures you set. Your final instalment depends on the amount actually sanctioned, the rate applicable to your profile and product, and the exact disbursal date. Those are confirmed in your sanction letter.
Does it include processing fees or insurance?
No. The calculation covers principal and interest only. Any processing fee, documentation charge or insurance premium is separate and will be disclosed to you in writing before disbursal.
What rate should I enter?
If you have already spoken to us, enter the rate we quoted. Otherwise, use it as a comparison tool — set a range and see how sensitive your instalment is to the rate. Secured loans such as gold and property sit at the lower end of the slider; unsecured personal and small group loans sit higher.
Can I calculate for a weekly or fortnightly loan?
This calculator works on monthly instalments. For group loans collected weekly or fortnightly, use it to estimate the monthly equivalent and speak to our field officer, who will give you the exact per-collection figure.
Happy with the numbers?
Start an application and we will confirm your actual eligibility, rate and instalment — with every charge stated in writing.