CalcInfinityEMI Calculator
Calculate your monthly loan installment, total interest, and full repayment schedule.
What is an EMI?
An EMI (Equated Monthly Installment) is the fixed amount you pay your lender every month until a loan is fully repaid.
Each EMI is made up of two parts:
- A portion that repays the principal
- A portion that pays interest on the balance still outstanding
The EMI itself stays the same every month, but the split between principal and interest shifts over time.
Why use an EMI calculator?
An EMI calculator turns a loan offer's headline numbers — principal, rate, tenure — into the one figure that actually affects your monthly budget. It also reveals the total interest you'll pay, which lenders don't always make obvious up front, so you can compare loan offers properly instead of just comparing advertised rates.
How EMI is calculated
EMI uses a fixed, reducing-balance formula — the same one banks use — so the payment stays constant even though the interest portion shrinks every month as the balance falls.
Example
Understanding Your Results
Principal
The loan amount you originally borrow.
Interest Rate
The annual rate your lender charges, usually shown as a % per year.
Loan Tenure
How long you have to repay the loan, usually in months or years.
Total Interest
The total interest paid across the entire loan, on top of the principal.
Total Repayment
Principal plus total interest — everything you'll pay back in all.
How Tenure Affects Your EMI
Same ₹1,00,000.00 loan at 12% — a longer tenure lowers the monthly EMI, but adds up to far more interest overall.
| Tenure | EMI | Total Interest |
|---|---|---|
| 12 months | ₹8,884.88 | ₹6,618.55 |
| 24 months | ₹4,707.35 | ₹12,976.33 |
| 60 months | ₹2,224.44 | ₹33,466.69 |
How Interest Rate Affects Total Cost
Same ₹1,00,000.00 loan over 12 months — a few percentage points changes the total interest more than it changes the monthly EMI.
| Interest Rate | EMI | Total Interest |
|---|---|---|
| 10% | ₹8,791.59 | ₹5,499.06 |
| 12% | ₹8,884.88 | ₹6,618.55 |
| 15% | ₹9,025.83 | ₹8,309.97 |
Frequently Asked Questions
Common Mistakes to Avoid
- Use the annual interest rate. Most lenders advertise yearly rates. Entering a monthly rate will produce an incorrect EMI.
- Check total interest, not just EMI. A longer tenure lowers your monthly payment but adds significantly more interest over the life of the loan.
- Total repayment isn't the same as the loan amount. It includes all the interest too — the number you borrow is rarely the number you pay back.
References
- Reserve Bank of India (RBI)
- National Institute of Securities Markets (NISM)
Last reviewed July 2026