Calculate Your EMI
Note: This calculator provides estimated EMI based on the loan amount, interest rate, and tenure you enter. Actual EMI may vary based on the lending institution's terms and conditions.
Your Loan Summary
₹12,399
Pay this amount every month for 120 months
₹10,00,000
Original loan amount
₹4,87,828
Interest payable over 10 years
₹14,87,828
Principal + Interest
Loan Breakdown
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both the principal and interest on a loan over a set period, making loan repayment predictable and manageable.
With The Tutor Bridge EMI Calculator, you can instantly calculate your monthly loan payments for various types of loans including home loans, car loans, personal loans, and education loans. Simply enter your loan amount, interest rate, and repayment tenure to get a complete breakdown of your EMI, total interest payable, and overall loan cost.
Whether you're a student planning for education loans, a professional buying a home or car, or anyone considering a personal loan—our EMI calculator helps you make informed financial decisions with confidence. All calculations are in INR and follow the standard EMI formula used by banks and financial institutions in India.
What is an EMI Calculator?
An EMI calculator is a digital tool that helps you calculate the monthly installment you need to pay for a loan. It takes into account the loan amount (principal), the interest rate, and the loan tenure to compute your exact monthly payment.
Why use an EMI calculator?
- Know your exact monthly payment before taking a loan
- Understand the total interest you'll pay over the loan tenure
- Compare different loan offers from various lenders
- Plan your monthly budget with accurate EMI estimates
- Decide on the optimal loan tenure based on your repayment capacity
How it works:
The EMI calculator uses the following inputs:
- Loan Amount (P): The principal amount you borrow
- Interest Rate (R): Annual interest rate charged by the lender
- Loan Tenure (N): Duration over which you'll repay the loan (in years)
EMI Formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]
Where:
- P = Principal loan amount
- R = Monthly interest rate (Annual Rate / 12 / 100)
- N = Loan tenure in months
Example Calculation:
Loan: ₹10,00,000 | Interest: 8.5% p.a. | Tenure: 10 years
Monthly EMI
₹12,384
Principal
₹10,00,000
Total Interest
₹4,86,084
Total Amount
₹14,86,084
How the EMI Calculator Can Help You
Planning to take a loan? Our EMI calculator is an essential tool for smart borrowing. Here's how it helps:
Budget Planning
Know your exact monthly obligation before committing to a loan, ensuring it fits your budget.
Loan Comparison
Compare offers from different banks and choose the one with the lowest EMI or interest cost.
Tenure Optimization
Experiment with different tenures to find the right balance between EMI amount and total interest.
Interest Transparency
See exactly how much interest you'll pay over the loan period—no hidden surprises.
Education Loan Planning
Students can plan their education loans for studying in India or abroad with accurate repayment estimates.
Financial Discipline
Understanding EMI helps you borrow responsibly within your repayment capacity.
💡 Pro Tip: A shorter loan tenure means higher EMI but lower total interest. A longer tenure reduces EMI but increases overall interest cost. Choose based on your monthly budget and long-term financial goals.
Types of Loans You Can Calculate
Home Loan
Calculate EMI for home purchase or construction loans. Typical tenure: 10-30 years, Interest: 8-10% p.a.
Car Loan
Plan your vehicle purchase with accurate EMI calculations. Typical tenure: 1-7 years, Interest: 7-12% p.a.
Personal Loan
Unsecured loans for various personal needs. Typical tenure: 1-5 years, Interest: 10-18% p.a.
Education Loan
Fund your higher education in India or abroad. Typical tenure: 5-15 years, Interest: 8-14% p.a.
Business Loan
Finance your business needs or expansion plans. Typical tenure: 1-10 years, Interest: 10-20% p.a.
Two-Wheeler Loan
Finance bikes and scooters with affordable EMIs. Typical tenure: 1-5 years, Interest: 9-15% p.a.
Features of The Tutor Bridge EMI Calculator
Instant Results
Get EMI, interest, and total payment calculations instantly as you adjust the inputs.
Flexible Inputs
Adjust loan amount (₹10K to ₹1 Cr), interest rate (1-30%), and tenure (1-30 years) with ease.
Detailed Breakdown
View principal amount, total interest, total payable amount, and principal-to-interest ratio clearly.
Accurate Formula
Uses the standard EMI formula followed by all Indian banks and financial institutions.
Mobile Responsive
Calculate EMI on any device—desktop, tablet, or smartphone with seamless experience.
India-Specific
All calculations in Indian Rupees (INR) tailored for the Indian lending market.
How to Use the EMI Calculator
- 1
Enter the loan amount (₹) you wish to borrow using the slider or input field.
- 2
Set the annual interest rate (%) offered by your lender. Check with your bank for current rates.
- 3
Choose your loan tenure in years (how long you want to repay the loan).
- 4
View instant results showing:
- • Monthly EMI amount
- • Principal loan amount
- • Total interest payable
- • Total amount to be repaid
- 5
Experiment with different values to find the EMI that fits your budget and financial goals.
Frequently Asked Questions (FAQs)
1. What is EMI in simple terms?
EMI stands for Equated Monthly Installment. It's a fixed amount you pay every month to repay a loan, including both principal and interest.
2. How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is tenure in months.
3. Does EMI include both principal and interest?
Yes, each EMI payment includes both principal repayment and interest charges. Initially, a larger portion goes toward interest, and gradually more goes toward the principal.
4. What happens if I miss an EMI payment?
Missing EMI payments can result in late payment fees, penalty charges, negative impact on credit score, and in extreme cases, legal action by the lender. Always pay EMIs on time.
5. Can I prepay my loan to reduce EMI burden?
Yes, most loans allow partial or full prepayment. Prepaying reduces your outstanding principal, which can either reduce your EMI or shorten the loan tenure. Check with your lender about prepayment charges.
6. What is a good EMI-to-income ratio?
Financial experts recommend keeping your total EMI (all loans combined) below 40-50% of your monthly income to maintain financial stability and avoid over-leverage.
7. Should I choose a longer or shorter loan tenure?
Shorter tenure: Higher EMI but lower total interest. Longer tenure: Lower EMI but higher total interest. Choose based on your monthly budget and long-term financial goals.
8. Are education loan EMIs different?
Education loans often have a moratorium period (during study + grace period) where you don't pay EMIs. EMI repayment typically starts after you complete your course and the grace period ends.
9. Can EMI change during the loan tenure?
For fixed-rate loans, EMI remains constant. For floating-rate loans, EMI can change when the interest rate changes based on market conditions.
10. Is this EMI calculator accurate?
Yes, our calculator uses the standard EMI formula followed by all Indian banks and NBFCs. However, actual EMI may vary slightly based on the lender's specific terms, processing fees, and other charges.
Smart Tips for Managing Your Loan EMI
Borrow what you need: Don't over-borrow. Calculate your actual requirement and borrow only that amount.
Compare lenders: Different banks offer different interest rates. Use this calculator to compare offers and save on interest.
Maintain good credit score: A higher credit score (750+) can help you get lower interest rates and better loan terms.
Set up auto-debit: Automate EMI payments to avoid missing due dates and penalty charges.
Consider prepayment: Use bonuses or extra income to prepay and reduce your loan burden faster.
Read the fine print: Understand processing fees, prepayment charges, and other terms before signing the loan agreement.
For students: Explore education loans with subsidized interest or government schemes that offer better terms for higher education.