Calculate your loan EMI and see interest savings.
Plan your loans with precision. Calculate your EMI and explore how prepayments and step-up options can accelerate your repayment.
Adjust sliders to see EMI details.
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
In an EMI, the payment is split between the principal component and the interest component. In the initial years of the loan, the interest component is much larger than the principal component. As the loan matures, the principal component increases and the interest portion decreases. Our calculator's amortization schedule clearly shows this breakdown month by month.
The mathematical formula to calculate EMI is:
EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
This formula can be complex to use manually, which is why our EMI calculator is a valuable tool for anyone looking to take out a loan.
Our calculator goes beyond a simple EMI calculation by allowing you to model advanced strategies:
EMI (Equated Monthly Installment) is the fixed payment you make each month toward your loan. It includes both principal and interest, spread over the loan tenure.
the loan amount in Principal.
the interest rate in Interest Rate.
the loan tenure in Time Period.
your monthly EMI and total interest.
— paying extra reduces principal.
— even 0.5% difference matters.
— less interest but higher EMI.
— increase EMI as income grows.
