Loan EMI Calculator
Last updated: September 2026
EMI with Chart, Sliders & Bank Comparison
The EasyTP Loan EMI Calculator helps you calculate your monthly EMI quickly and accurately. Enter the loan amount, interest rate, and tenure to estimate your monthly installment, total interest payable, and total loan cost. This calculator is useful for home loans, car loans, and personal loans.
Sample EMI Comparison (Indicative)
| Bank | Interest | EMI |
|---|---|---|
| SBI | 8.5% | ₹4,336 |
| HDFC | 8.75% | ₹4,408 |
| ICICI | 9.0% | ₹4,482 |
| Axis | 9.2% | ₹4,540 |
Interest rates shown are indicative examples and may vary by lender and time.
How to Use the EMI Calculator
- Enter the loan amount you wish to borrow.
- Select the applicable interest rate.
- Choose the loan tenure in years or months.
- Click on “Calculate EMI” to view monthly EMI, interest, and total payment.
EMI Calculation Formula
EMI is calculated using the standard formula:
EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1]
- P = Loan amount (principal)
- R = Monthly interest rate
- N = Loan tenure in months
Loan Calculator FAQs
What is EMI?
EMI is a fixed monthly payment towards loan repayment.
Can I switch tenure type?
Yes, between months and years.
Is this calculator free?
Yes, it is free to use.
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Disclaimer
The EMI results provided by this calculator are estimates based on the inputs entered. Actual EMI amounts may vary depending on lender policies, processing fees, and applicable charges. This tool is for informational purposes only and should not be considered financial advice.