EMI Calculator

EMI is calculated using the standard reducing-balance formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (the annual rate ÷ 12 ÷ 100), and n is the tenure in months. For example, ₹5,00,000 over 5 years at 11% works out to about ₹10,871 a month — try the calculator above with your own numbers.

That depends on the lender and what you choose at the time — some let you shorten the tenure and keep the EMI the same, others reduce the EMI and keep the tenure. Most lenders allow part-prepayment or full foreclosure after an initial lock-in period, often with a small charge — we'll walk you through the exact terms for your matched lender before you sign anything.

It's built for a standard EMI-based loan — personal, business, home, vehicle, and most gold loans all work this way. A CC/OD limit is different: you're charged interest only on the amount you've actually drawn, not a fixed EMI, so this calculator isn't the right tool for that — see the CC / OD Limit page for how it works instead.

No — this shows principal and interest only. MyMudraSolutions charges no fee for its service, but a lender's own processing fee, if any, is separate and isn't included in this estimate. We'll tell you upfront what a specific lender charges before you proceed.

There's no single rule, but lenders generally want your total EMIs — including any new one — to stay within a comfortable share of your monthly income, alongside your CIBIL score and existing obligations. Share your numbers with us and we'll give you a realistic picture rather than a guess.

Yes — the calculator is free, needs no login, and no details are collected just to use it. Try it for any loan type, and reach out on WhatsApp only when you’re ready.