EMI Calculator
Calculate your monthly EMI for home loan, car loan, or personal loan with detailed amortization schedule.
🏠Loan Details
Total Interest
₹27.07 L
Total Amount
₹52.07 L
Interest to Principal Ratio
108.3%
Payment Breakdown
Amortization Chart
Instant EMI
Get your monthly EMI instantly for any loan amount and tenure.
Amortization Schedule
See year-by-year breakdown of principal and interest payments.
All Loan Types
Works for home loan, car loan, personal loan, education loan.
How to Use
Enter Loan Amount
Set your total loan amount using the slider.
Set Interest Rate
Enter the annual interest rate offered by bank.
Choose Tenure
Select loan duration in years or months.
View EMI & Schedule
See monthly EMI, total interest and amortization.
The Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1)Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your loan. It includes both principal and interest components.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.
Does EMI remain same throughout the loan?
Yes, for fixed-rate loans, EMI remains constant. For floating rate loans, EMI changes when the interest rate changes.
How can I reduce my EMI?
You can reduce EMI by: increasing loan tenure, making a larger down payment, negotiating a lower interest rate, or making prepayments.
What happens if I prepay my loan?
Prepayment reduces your principal amount, which can either reduce your EMI or shorten your loan tenure, saving you significant interest.
Which is better - longer or shorter tenure?
Shorter tenure means higher EMI but less total interest. Longer tenure means lower EMI but more total interest. Choose based on your monthly budget.