Mobile EMI Calculator

Enter the price you have been quoted for the phone, anything you are paying upfront and the offer rate to get the monthly instalment. The comparison table shows what 12, 18, 24 and 36 month plans cost in total.

Phone price

₹

Starting value is an example, not a quoted price. Enter the price you are offered.

Down payment

₹

Exchange / trade-in value

₹

Deducted from the price before financing, like a down payment.

No-cost EMI offerSets the interest rate to 0%. Processing fees may still apply.

Interest rate (per year)

Card and no-cost EMI offers on phones usually run between 0% and 18% a year.

EMI tenure

Processing fee (one-time)

₹

Charged upfront by the bank or lender, not part of the EMI.

Monthly EMI

₹2,694

for 1 year

Financed amount

₹30,000

Total interest

₹2,323

Total cost

₹32,323

Down payment + EMIs + fee

Financed amount vs interest

Principal: ₹30,000 (92.8%)
Total interest: ₹2,323 (7.2%)

Compare tenures

EMI and total cost across common product EMI tenures
Tenure	EMI	Total interest	Total payment
12 months	₹2,694	₹2,323	₹32,323
18 months	₹1,857	₹3,435	₹33,435
24 months	₹1,440	₹4,571	₹34,571
36 months	₹1,025	₹6,915	₹36,915

Monthly EMI

₹2,694

1 year

Prices shown are example starting values, not quoted prices. Enter the price you are offered.

What it is:: An EMI calculator for buying a phone in India.
What it calculates:: The financed amount after down payment and exchange, the monthly instalment, and the total cost.

Assumptions

Exchange value is deducted before financing, like a down payment.
Processing fees are charged once, upfront.
No-cost offers are modelled by setting the rate to 0%.

How it works

Phones are the one category where three financing routes genuinely compete. A credit card EMI conversion needs no down payment but charges the issuer's rate. A consumer durable loan from an NBFC, arranged at the counter, usually wants 10% to 20% upfront plus a processing fee but often carries a lower rate. A brand-funded no-cost offer sets the rate to zero and recovers the cost through the price.

Exchange value is what makes phone EMI different from every other category here. A working phone two or three years old can knock a fifth off the price, and because it is deducted before financing it reduces the instalment and the interest together. Trading in is almost always better value than stretching the tenure.

Tenure discipline matters more on phones than on appliances. A handset is typically replaced in two to three years, so a 36-month plan can outlive the device. Six to twelve months is the sensible range unless the offer is genuinely 0%.

Formula

Financed amount = price - down payment - exchange value; EMI = P x r x (1+r)^n / ((1+r)^n - 1)

P: = financed amount
r: = monthly interest rate = annual rate / 12 / 100
n: = tenure in months

Tick no-cost EMI to set the rate to 0%. Exchange value is deducted before financing, so it lowers the EMI exactly as a down payment does.

Example calculation

A ₹30,000 phone with ₹5,000 down at 14% over 12 months

Price: ₹30,000
Down payment: ₹5,000
Financed amount: ₹25,000
Interest rate: 14% a year
Tenure: 1 year
Monthly EMI: ₹2,245
Total interest: ₹1,936
Total cost: ₹31,936

Frequently asked questions

Can I get a phone on EMI without a credit card?

Yes. Consumer durable loans from NBFCs and pay-later products finance phones against a debit card or their own credit line. They typically ask for a down payment and a processing fee, and they run a credit check.

Does the exchange value reduce my EMI?

Yes. Exchange value is deducted from the price before financing, exactly like a down payment, so it lowers both the instalment and the total interest. It is usually the cheapest way to cut the EMI.

Which tenure works best for a phone?

Six to twelve months for most phones. A three-year plan on a device you will replace in two is how a discount turns into a debt.

Is the down payment refundable if I return the phone?

The refund follows the seller's return policy, but the EMI plan has to be cancelled separately with the lender or card issuer. Processing fees are usually not refunded.

Are the prices here the actual phone prices?

No. The price field starts from an example value so you have something to work with. Enter the price you are actually being quoted, since offers change constantly.