EMI calculator
Work out the monthly EMI for a home, personal, business, car or education loan, or a loan against property.
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%
years
Rates shown are examples. Your actual rate depends on the lender and your profile.
Monthly EMI–
- Principal amount
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- Total interest
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- Total amount payable
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How EMI is calculated
EMI (equated monthly instalment) is the fixed amount you pay every month until the loan is repaid. It depends on three things: the loan amount, the interest rate and the tenure.
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Here P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
How to bring your EMI down
- Choose a longer tenure. The EMI falls, but you pay more interest overall.
- Make a larger down payment so you borrow less.
- Improve your credit score before applying to qualify for a lower rate.
- Already paying a high rate? A balance transfer to another bank can reduce your EMI.
Apply online, get a call back
Leave your name and number. An LKD advisor will call you and explain your options.