How We Calculate EMI

EMI

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), with r = annual rate ÷ 1200 and n = months. This is the reducing-balance method used by Indian banks and NBFCs.

Repayment schedule

Each month, interest = outstanding balance × r; principal repaid = EMI − interest. Figures are summed by loan year.

Eligibility

Maximum EMI = net monthly income × FOIR − existing EMIs. Maximum loan = EMI × ((1+r)^n − 1) ÷ (r × (1+r)^n). Banks also apply credit-score, age and employer checks not modelled here.

Rates

Rate ranges are indicative as of Oct 2026 and are not offers. Processing fees, GST and insurance are not included in the EMI.