About this calculator
Enter the loan, rate and EMI. The last EMI may be smaller to finish the loan exactly.
How to use it
- Enter the loan amount and rate.
- Enter the EMI you can pay.
- Read the tenure and total interest.
The formula
n = −ln(1 − r × P ÷ EMI) ÷ ln(1 + r)
- P
- loan amount
- r
- monthly rate
- EMI
- what you pay each month
Worked example
₹20 lakh at 8.5% with a ₹25,000 EMI
- n = 118.5 months, so 119 EMIs, about 9 years 11 months.
- Total interest: ₹9,61,904.
What the result means
A higher EMI shortens the loan and cuts interest sharply.
Assumptions
- A fixed rate.
Limitations
- Lenders set tenure in whole months and adjust the last EMI.
Frequently asked questions
What if my EMI is too low?
If it does not cover the monthly interest, the loan never ends; the calculator warns you.
Is a shorter tenure better?
It costs less interest but needs a higher EMI.
How do I find the EMI for a fixed tenure?
Use the EMI calculator.
For information only. This calculator gives estimates based on the figures you enter and the assumptions listed above. It is not financial advice. Actual amounts depend on the lender’s or institution’s terms, fees, rounding and rate changes. Please confirm with them before you decide.
Last reviewed on 1 October 2026. Found a mistake? Tell us.