EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans. Get total interest, payment breakdown, and full amortization schedule.

Currency

Principal Amount

Interest Rate (% p.a.)

Loan Tenure

years

Enter loan details to calculate your EMI and view the chart.

fFormula Explained

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

Where: P = Principal, R = Monthly Interest Rate, N = Tenure in Months

Frequently Asked Questions

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 the number of months.

What is a good loan tenure?

A shorter tenure means higher EMIs but lower total interest paid. A longer tenure means lower EMIs but higher total interest paid. Choose based on your monthly repayment capacity.

What is an amortization schedule?

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

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