Calculate Equated Monthly Installments (EMI) for home loans, car loans, and personal loans. View amortization schedule and interest breakdown.
An Equated Monthly Installment (EMI) is a fixed payment made by a borrower to a lender on a specified date each month. EMIs apply to both interest and principal each month so that over a specified number of years, the loan is paid off in full.
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In the early months of a loan, a larger portion of your EMI goes toward interest. As the outstanding principal decreases, the interest component shrinks and more of your payment goes toward the principal. This is why prepaying a loan early in its tenure saves significantly more interest than prepaying later.
Enter loan details
Input your loan amount, annual interest rate, and loan tenure in months or years.
View EMI breakdown
See your monthly EMI along with total interest and total amount payable.
Explore the schedule
Review the month-by-month amortization table showing principal vs interest split.
Home buyers
Compare mortgage options and find an EMI that fits your monthly budget.
Car buyers
Calculate auto loan EMIs across different tenures and down payments.
Financial planners
Help clients understand the true cost of borrowing over time.
Students
Plan education loan repayments before committing to a course.
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.
Three factors affect EMI: loan amount (principal), interest rate, and loan tenure. A higher amount or rate increases EMI, while a longer tenure decreases it.
Yes, the calculator shows a detailed month-by-month breakdown of principal, interest, and remaining balance.