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EMI Calculator - Calculate Your Loan EMI Online

Calculate your Equated Monthly Installment (EMI) for home loans, car loans, and personal loans with detailed amortization schedule and payment breakdown

Loan Details

₹10,000 ₹1 Cr
1% 30%
1 30
Monthly EMI
₹21,432
Principal Amount ₹25,00,000
Total Interest ₹26,43,680
Total Amount ₹51,43,680

Payment Breakdown

Year-Wise Amortization Schedule

Year Opening Balance EMI Paid Principal Paid Interest Paid Closing Balance

What is EMI?

EMI (Equated Monthly Installment) is the fixed amount you pay every month towards repaying a loan. It consists of both principal and interest components. Initially, the interest component is higher, but as you continue paying, the principal component increases.

EMI Calculation Formula

EMI is calculated using the formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
  • P = Principal loan amount
  • R = Monthly interest rate (Annual rate / 12 / 100)
  • N = Number of monthly installments (Tenure in months)

How to Use This EMI Calculator?

  1. Enter your desired loan amount in rupees
  2. Input the annual interest rate offered by your lender
  3. Select your loan tenure in years or months
  4. Click "Calculate EMI" to see your monthly payment
  5. Review the detailed amortization schedule below

Benefits of Using EMI Calculator

  • Plan Your Budget: Know exactly how much you'll pay each month
  • Compare Loans: Try different loan amounts and tenures to find the best fit
  • Save Money: Understand total interest payable and plan prepayments
  • Quick Results: Instant calculations with detailed breakdowns
  • Make Informed Decisions: See year-wise payment schedules before committing