Free. No login. No agenda.
What is your EMI
actually costing you?
Every lender in India advertises a flat rate. Every lender is required by RBI to disclose the true APR.
Almost none do. These three calculators show you the number they'd rather you not see.
₹40,000 Cr
Hidden interest paid annually
600M+
Active EMI borrowers
97%
Don't know their true APR
This is a calculator, not a marketplace. We do not sell loans. We do not earn if you borrow.
We do not require your name, phone, or email.
Enter any EMI offer. Get the truth. Share it if it shocks you.
About EMITruth
Why this
platform exists
And exactly what it is — and is not.
The Problem
A legal requirement that is routinely ignored
RBI mandates APR disclosure. The rule exists. The compliance is cosmetic.
Every lender in India — bank, NBFC, BNPL platform, consumer durable financier — is legally required under RBI's Fair Practices Code to disclose the Annual Percentage Rate (APR) of any loan. What they actually advertise is a "flat rate." The difference is not small.
"1% per month flat" sounds like 12% per year. The actual APR is between 21% and 26%, depending on tenure. The gap exists because a flat rate charges interest on the full original principal every month — even after you've repaid half the loan. APR accounts for the reducing balance. Lenders know this. The difference between what they advertise and what they're required to disclose is the business model.
What EMITruth is
- A free calculator with no login required
- A tool 100% on the borrower's side
- Transparent about how it earns money
- Mathematically identical to bank-internal APR tools
- Works offline on any device
- Shareable — results built for WhatsApp
What EMITruth is NOT
- Not a loan marketplace or aggregator
- Not a financial advisor or SEBI-registered entity
- Not earning commission on any loan you take
- Not storing your data
- Not a substitute for legal or financial advice
- Not affiliated with any bank or lender
Why It's Different
Every competitor has a conflict of interest
| Platform |
Shows True APR |
Exposes 0% Myth |
No Login |
Earns from Loans? |
| EMITruth |
Yes |
Yes |
Yes |
Never |
| BankBazaar / PaisaBazaar |
No |
No |
No |
Yes — per lead |
| Bank / NBFC websites |
Never |
No |
Varies |
Yes — is the lender |
| Lender-sponsored YouTube |
Occasionally |
Rarely |
Yes |
Yes — sponsored |
| Generic EMI calculators |
Partially |
No |
Yes |
No conflict |
What We Actually Do
Three tools — one purpose
🔢
Calculator 1 — The APR Decoder
Enter any EMI offer. Get the real annual interest rate using IRR binary search — 300 iterations, 10 decimal precision. The same method your bank uses internally to price the loan.
🔍
Calculator 2 — The 0% Myth Buster
Adds up every hidden cost in a "No Cost EMI": processing fees, price inflation above MRP, and cash discounts you forfeited. Shows the true rupee cost and effective rate.
⚖️
Calculator 3 — The Decision Engine
Should you pay cash or take the EMI and invest the lump sum? Runs the reducing-balance EMI formula against compound investment returns. Gives a rupee verdict, not a generic opinion.
📲
Shareable by Design
Every result has a WhatsApp share button with a pre-filled message. When someone discovers their "0% EMI" has a hidden cost of ₹6,000, they share it. That is the entire user acquisition model.
Financial Education
What every Indian
borrower should know
Five rules that apply to every EMI offer, every time.
EMI Rules
The numbers behind every offer
-
01
"1% per month flat" is not 12% per year.
Flat rates charge interest on the original principal throughout the loan — even after you've repaid half. The actual APR on a "flat 12% p.a." loan is between 21% and 26%, depending on tenure. The ratio is roughly 1.83× the flat rate for 12-month loans. Always ask for the APR in writing.
-
02
If total payable exceeds MRP, you are paying interest.
No exceptions. Every rupee above the cash price is a cost of borrowing, regardless of what it's called — processing fee, subvention charge, forfeited discount. "0% EMI" means the cost is hidden, not zero.
-
03
Consumer EMIs cost 18–30% p.a. Long-term equity returns average 10–14% p.a.
Paying cash for consumer goods — phones, appliances, furniture — is almost always the right call. The EMI rate exceeds what your money will earn. Calculator 3 shows you the exact gap for your specific numbers.
-
04
Credit card EMI conversions block your limit and cost more than you think.
Typical rate: 13–18% p.a. plus 1–2% processing fee. Before converting, check whether a personal loan from your bank would cost less. For salaried individuals with clean credit history, personal loan rates of 11–16% are common.
-
05
RBI requires APR disclosure. Lenders are required to show it on the Key Fact Statement.
Ask for the KFS before signing anything. If the lender refuses or says APR is not applicable, that is incorrect. The RBI Master Direction on Interest Rate on Advances (updated 2024) requires disclosure of effective interest rate / APR for all retail credit products.
Common Traps
Three specific scenarios worth knowing
📱
The Smartphone Trap
A ₹60,000 phone on 12-month "0% EMI" with ₹1,499 processing fee and ₹3,000 forfeited cash discount costs ₹4,499 extra — around 7.5% p.a. effective. On higher-value devices over 18 months, the hidden rate often reaches 9–11%.
🛋️
Furniture and Appliance EMIs
Bajaj Finance "No Cost EMI" processing fees typically run ₹499–₹2,499. On a ₹30,000 purchase over 6 months, that fee alone gives an effective rate of 10–15%. Always ask: what is the total amount payable?
🏍️
Two-Wheeler Finance
Dealer finance for two-wheelers typically runs 16–24% APR. The flat rate advertised is usually 9–12%. Banks offer personal loans and two-wheeler loans at 11–16%. Running Calculator 1 on any dealer quote takes 30 seconds.