EMI Calculator
Find the monthly instalment, total interest and full repayment schedule for any loan.
- Principal amount
- ₹0
- Total interest
- ₹0
- Total amount payable
- ₹0
Calculated on a reducing balance with monthly compounding, the method most Indian banks use. Your lender’s figure can differ slightly because of rounding, processing fees, insurance or a floating rate that changes later.
| Year | Principal paid | Interest paid | Total paid | Balance left |
|---|
How is EMI calculated?
EMI (Equated Monthly Instalment) is the fixed amount you repay every month until the loan is closed. It is worked out with:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- P — the loan amount (principal)
- r — the monthly interest rate, i.e. the yearly rate ÷ 12 ÷ 100
- n — the number of monthly instalments
In the early years most of each EMI goes towards interest; as the balance falls, more of it goes towards the principal — the schedule above shows exactly how. A longer tenure lowers the EMI but increases the total interest you pay.