Shopping & Money

EMI Calculator: Monthly EMI for Shopping & Loans

Free tool · Updated October 2, 2026 · By CouponTalk

Your result

Enter your measurements to see your result.

Quick answer

EMI is calculated as P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount, r is the monthly interest rate and n is the number of months. For ₹50,000 at 15% a year over 12 months, the EMI is about ₹4,513 and the total interest is about ₹4,155.

How to use this calculator

Enter the product price or loan amount.
Enter the annual interest rate quoted by your bank or card.
Choose the tenure in months and add any processing fee.

Formula

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

P = amount, r = annual rate ÷ 12 ÷ 100, n = months.

Total payable = EMI × n + fees · Total interest = EMI × n − P

Results are estimates to help you plan. Confirm the final price, tax and offer terms at checkout.

Frequently asked questions

Is no-cost EMI really free?

Usually the interest is given to you as an upfront discount, so you pay the product price. But banks may still charge a processing fee plus 18% GST on the interest, so check the final amount.

How is credit card EMI interest calculated?

Card EMIs use the reducing-balance formula on the converted amount, typically at 13–24% a year, plus a processing fee. This calculator shows the true total cost.

Does a longer tenure reduce the cost?

A longer tenure lowers the monthly EMI but increases the total interest you pay.