EMI Calculator
Loan Details
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%
Yrs
Mos
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Your Loan EMI
Monthly Payment
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Principal
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Interest
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Total Paid
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Amortization Schedule
A month-by-month breakdown of your loan repayment.
| Month | Principal | Interest | Balance |
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Guide & Methodology
About the Equated Monthly Installment (EMI) Calculator
Compute precise monthly loan repayments, total interest payable, and detailed amortization schedules for home loans, auto loans, and personal loans.
What this calculator does
- Calculates the exact monthly installment required to repay a borrowed principal over a specified duration.
- Separates each payment into principal reduction and interest charges.
- Generates an annual and monthly amortization breakdown showing remaining balance over time.
- Allows testing different interest rates and loan tenures to find an affordable monthly budget.
How it Works & Key Inputs
Step 1
Enter Loan Amount
Input the total borrowed loan principal (e.g. ₹25,00,000 for a home loan or ₹8,00,000 for a car loan).
Step 2
Input Interest Rate
Provide the annual lending interest rate quoted by the bank or NBFC (e.g. 8.5% p.a.).
Step 3
Select Loan Tenure
Choose the repayment term in years or months. Longer tenures lower monthly EMI but increase total interest.
Step 4
Analyze Amortization
Review the split between principal and interest and identify opportunities for prepayments.
Core Calculation Parameters
Principal (P)The total initial loan amount borrowed.
Annual Interest Rate (R)The annual percentage interest rate charged by the lender.
Tenure (N)The loan duration in months or years.
Formula & Calculation Logic
Mathematical Model
EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]Standard amortized loan payment formula with reducing balance interest.
Variables Breakdown
EMIEquated Monthly InstallmentPLoan Principal amountrMonthly interest rate (Annual interest rate ÷ 12 ÷ 100)nLoan tenure in number of months (Years × 12)Calculation Example: A loan of ₹10,00,000 at 9% p.a. for 5 years (60 months) results in an EMI of ₹20,758 per month, with total interest of ₹2,45,501.
Frequently Asked Questions (FAQ)
Disclaimer: This calculator is provided for educational and illustrative purposes only. Actual financial outcomes may vary based on statutory changes, lender terms, fund fees, and prevailing market dynamics.