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EMI Calculator

Calculate your monthly loan installment.

ⓘ How this works

EMI stands for Equated Monthly Installment — the fixed amount you pay every month to repay a loan, which includes both the amount you borrowed and the interest charged on it. This calculator tells you how much your monthly payment will be for a given loan amount, interest rate, and repayment period, so you can check upfront whether it fits your budget. All rates here are reducing-balance (diminishing) rates — interest is charged each month only on what you still owe, which is how banks quote home, car and personal loans. If a dealer or lender quotes a "flat rate", it is NOT the same thing and is usually much more expensive than it looks — use the Flat vs Reducing Rate converter to compare.

Your inputs

Loan amount
₹
Interest rate
%
Tenure
yrs
Processing fee
₹
Credit-card EMI (18% GST on interest)i

Your result

Monthly EMI
₹22,244
Principal₹10L
Interest paid₹3.3L
GST on interest (18%, credit-card EMI)₹60,240
True interest rate incl. GST14.16% p.a.
Total repaid through EMIs₹13.9L
Interest makes up roughly 24% of your total repayment cost.
REPAYMENT SCHEDULE60 EMIs — every rupee, month by month. Click a year to expand it.
YearOpeningEMIInterestPrincipalGST on interestTotal paidClosing
Year 1· 12 mo₹10L₹2.7L₹1.1L₹1.6L₹20,096₹2.9L₹8.4L
Year 2· 12 mo₹8.4L₹2.7L₹91,948₹1.7L₹16,551₹2.8L₹6.7L
Year 3· 12 mo₹6.7L₹2.7L₹69,756₹2L₹12,556₹2.8L₹4.7L
Year 4· 12 mo₹4.7L₹2.7L₹44,749₹2.2L₹8,055₹2.7L₹2.5L
Year 5· 12 mo₹2.5L₹2.7L₹16,570₹2.5L₹2,983₹2.7L₹0
Total—₹13.3L₹3.3L₹10L₹60,240₹13.9L₹0

Interest is charged each month on the outstanding balance (reducing-balance); as a credit-card EMI, 18% GST is added on each month's interest. The PDF is generated on your device; nothing is uploaded.

The "Credit-card EMI" switch is ON by default and adds 18% GST on interest — correct for credit-card EMIs only. For a bank or NBFC loan (home, car, personal, education, gold) their interest is GST-exempt: switch it OFF, or use the dedicated bank-loan calculators below, which never add GST to interest.
Home Loan →Car Loan →Personal Loan →Loan Prepayment →

Risk note · Indicative only. Your actual EMI, fees, prepayment terms and any charges are set by your lender's sanction letter and can differ from these assumptions (e.g. floating rates reset, fees vary by lender and scheme). Interest on bank loans carries no GST; lender fees and charges do.

Disclaimer · finkit is an educational tool, not financial, tax or legal advice. Every result is a projection from the numbers you entered and the assumptions stated on the page — it is not a forecast, a quote, or an offer. Check decisions with a SEBI-registered adviser, your lender, or a tax professional.

Explore scenarios
4% interest rate₹11.2L
9.33% interest rate₹13L
12% interest rate (current)₹13.9L
14.67% interest rate₹14.9L
20% interest rate₹17L
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