Loan EMI Calculator
Find the monthly instalment (EMI) for a car, home, bike or personal loan, and see how much of what you pay goes to interest.
Monthly instalment (EMI)
23,790
Total interest
427,396
Total payment
1,427,396
over 60 months
Principal 70%Interest 30%
Frequently asked questions
›How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
›Why is most of my early instalment interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay, the interest part shrinks and more of each instalment reduces the loan.
›Does this include insurance, processing fees or taxes?
No. It covers principal and interest only. Ask your bank for the full cost, including fees and insurance.
›Is interest-based borrowing permissible in Islam?
Conventional interest (riba) is prohibited in Islam. Many Islamic banks offer alternatives such as Murabaha or Diminishing Musharakah. You can still use this calculator to compare the monthly amount of such financing by entering the bank's quoted profit rate.
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