EMI Calculator
Calculate your monthly loan installment and view the full amortization schedule.
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Loan Summary
Monthly EMI
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per month
Total Payable
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Total Interest
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Principal Interest
Principal Interest
Amortization Schedule
| Month | Principal | Interest | Balance |
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Frequently Asked Questions
- What is EMI?
- EMI (Equated Monthly Installment) is the fixed amount paid every month to repay a loan. Each EMI covers a portion of the principal and the interest accrued for that month.
- How is EMI calculated?
- EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
- Can I reduce my EMI?
- Yes — by negotiating a lower interest rate, making a larger down payment, extending the loan tenure, or making part-prepayments during the loan term to reduce the outstanding principal.
- What is an amortization schedule?
- It's a table that shows each monthly payment broken down into how much goes toward principal and how much toward interest, along with the remaining balance after each payment.
- Does a longer tenure always mean lower EMI?
- A longer tenure lowers your monthly EMI but significantly increases the total interest you pay over the life of the loan. Choose a balance that fits your monthly budget without overpaying interest.