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What Is EMI, At What Rate and How Can You Avoid Paying? EMI stands for equated monthly instalment plan. It may be paid off in monthly instalments, although the only stipulation is that it must be paid off within 20 years. The EMI is calculated by taking the total amount payable for the loan (including fees and interest) divided by the number of months over the length of the loan. For example, if you take a loan for Rs. 1,00,000 with an EMI of Rs. 2,500 per month and repay it in 36 monthly installments over 10 years, your total payments would come to Rs. 40,000 or Rs. 4,000 per month. What is EMI? Equated Monthly Instalment (EMI) is the method of payment for India based on every month where you will pay in advance and your product will be delivered by releasing the amount each month, which means that