EMI Calculator
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Monthly EMI
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Principal Amount
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Total Interest Payable
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Total Amount Payable
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Estimate only — your lender's exact EMI may vary slightly based on rounding and processing conventions.
View year-wise amortization schedule
| Month | EMI | Principal | Interest | Balance |
|---|
An EMI calculator works out your fixed monthly instalment for a loan — home, car, personal, or education — based on the loan amount, interest rate, and repayment tenure.
Every EMI is a blend of principal and interest. Early in the loan, more of each payment goes toward interest; toward the end, more goes toward principal. The amortization schedule below shows exactly how that shifts.
How This Calculator Works
EMI = P × r × (1+r)n / ((1+r)n − 1), where P is principal, r is the monthly interest rate, and n is the number of monthly instalments.
Frequently Asked Questions
Does this match my bank's exact EMI?
It should be very close. Small differences can occur due to rounding conventions, processing fees, or whether interest is calculated daily or monthly by your specific lender.
What's a good loan tenure to choose?
A shorter tenure means a higher EMI but far less total interest paid. A longer tenure lowers your monthly burden but increases total interest significantly. Try adjusting the tenure slider to see the trade-off directly.
Can I reduce my total interest after taking the loan?
Yes — making extra payments toward the principal (prepayment) reduces your total interest and can shorten your tenure. Use our Prepayment Calculator to see the exact impact.