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EMI Calculator
Calculate your monthly loan installment, total interest, and see a complete month-by-month amortization schedule.
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Monthly EMI
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Principal
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Total Interest
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Total Amount
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Interest: —
Amortization Schedule
Frequently Asked Questions
EMI (Equated Monthly Installment) is a fixed monthly payment made to a lender. Each payment covers part of the principal and the interest accrued that month.
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P = principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total months.
You can reduce EMI by: making a larger down payment (lower principal), choosing a longer tenure, or negotiating a lower interest rate. Note that a longer tenure reduces EMI but increases total interest paid.
An amortization schedule is a table showing how each EMI payment is split between principal and interest over time. Early payments have more interest; later payments have more principal repayment.
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⚠️ Disclaimer: EMI figures are indicative estimates calculated using a standard reducing-balance formula. Actual EMI, applicable interest rate, processing fees, and loan terms may differ significantly based on your lender's policies. Consult your bank or financial institution for exact figures before committing to a loan.