Free Tool · Instant Results
EMI Calculator
Calculate your loan EMI for home loans, car loans, personal loans, and business loans. Get monthly EMI, total interest, and total payment instantly.
Monthly EMI
₹10,442
Equated Monthly Installment
Principal Amount
₹10,00,000
Total Interest
₹8,79,560
Total Payment
₹18,79,560
Calculate EMI for Any Loan Type
Use Bizmitra's EMI Calculator for any loan — adjust the values above to match your scenario.
🏠
Home Loan
For house purchase or construction
🚗
Car Loan
New or used vehicle financing
💼
Business Loan
Working capital and expansion
👤
Personal Loan
For any personal need
🎓
Education Loan
Higher studies in India or abroad
🏆
Gold Loan
Loan against gold ornaments
How EMI is Calculated
The standard EMI formula used by all banks and NBFCs in India.
Why Use Bizmitra EMI Calculator?
The most accurate and easy-to-use loan EMI calculator for Indian borrowers.
⚡
Real-Time Calculation
EMI updates instantly as you adjust the loan amount, interest rate, or tenure sliders.
💯
100% Accurate
Uses the standard EMI formula followed by all major banks and NBFCs in India.
📊
Full Breakdown
See your principal, total interest, and total payment in one clear view.
🆓
Forever Free
No registration, no hidden fees, no usage limits. Calculate as much as you want.
📱
Works Everywhere
Fully responsive design for desktop, tablet, and mobile users.
🔒
Privacy First
All calculations happen in your browser. No data is sent or stored.
EMI Calculator FAQs
Common questions about loan EMIs and how this calculator works.
What is EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay each month to repay a loan over a chosen tenure. Each EMI consists of two parts — principal repayment and interest payment.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12 then by 100), and N is the loan tenure in months.
Which loans can I calculate EMI for?
You can use this calculator for any type of loan including home loans, car loans, personal loans, business loans, education loans, and gold loans. The math works the same for all standard reducing-balance loans.
What factors affect my EMI?
Three main factors affect your EMI: (1) Loan amount — higher principal means higher EMI, (2) Interest rate — higher rates increase EMI, and (3) Loan tenure — longer tenure reduces monthly EMI but increases total interest paid.
Can I prepay my loan to reduce EMI?
Yes, most banks allow loan prepayment. You can either reduce your EMI while keeping tenure same, or keep EMI same and reduce tenure. Some loans may have prepayment charges — check your loan agreement.
Is this EMI Calculator free?
Yes, the Bizmitra EMI Calculator is 100% free to use. No registration, no signup, no hidden charges. Use it as often as you need.
Manage Business Loans with Bizmitra ERP
Track loan EMIs, interest expenses, and repayment schedules directly in your accounting software. All in one place.
Try Bizmitra Free →