EMI Calculator
Calculate your monthly loan repayments with our free EMI Calculator, including interest and amortization breakdown for home, car, and personal loans.
This tool helps you plan your finances by providing accurate monthly EMI, total interest, and total payment details instantly. Enter your loan amount, interest rate, and tenure to get started.
Calculate EMI
Calculation Results
Your EMI results will appear here after calculation
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
What is EMI?
EMI, or Equated Monthly Installment, is a fixed payment amount made by a borrower to a lender at a specified date each month. It includes both the principal amount and the interest, calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N–1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12), and N is the number of monthly installments.
For example, for a ₹10,00,000 loan at 8% annual interest for 5 years (60 months), the monthly EMI would be approximately ₹20,276. This tool simplifies the calculation, providing a detailed breakdown of your EMI, total interest, and amortization schedule to help you make informed financial decisions.
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