PDF PremFree EMI Calculator
Planning a home, car or personal loan? PDF Prem's free EMI calculator shows your exact monthly installment, total interest and total payable — so you can borrow smart.
How to use the EMI Calculator
- Enter the loan amount you plan to borrow using the slider or the number box.
- Set the annual interest rate charged by your bank or lender.
- Choose the loan tenure in years.
- Your monthly EMI, total interest and total payable update instantly.
- Compare tenures — a shorter tenure means higher EMI but much less interest.
- Use the results to pick a loan you can comfortably repay.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until the loan is fully repaid. Each payment covers part of the principal and part of the interest.
What is the EMI formula?
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments.
Does the EMI include processing fees or other charges?
No. This calculator shows principal plus interest only. Banks may add processing fees, GST on fees, insurance or penalties — factor those in separately.
Is the EMI shown accurate?
It is a close estimate using the standard reducing-balance formula. Your bank's exact figure may differ slightly due to rounding and charges, so confirm with your lender before signing.