EMI is the equal monthly instalment that covers interest and principal. Lengthening tenure lowers the monthly outflow but increases total interest paid.
The standard formula
EMI = [P × R × (1+R)N] / [(1+R)N − 1], where P is principal, R is monthly interest rate and N is the number of months.
Use a calculator, then verify affordability
Run the numbers on our EMI calculator, then stress-test with a 10–15% income dip. If the EMI still fits, the loan is more likely to stay comfortable.