₹
%
Yr
Principal amount
Interest amount
Monthly EMI₹
Principal amount₹
Total interest₹
Total amount₹
Your Amortization Details (Yearly/Monthly)
What is EMI?
EMI (Equated Monthly Installment) 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.
EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]Where:
- P = Principal loan amount
- R = Monthly interest rate (Annual Rate/12/100)
- N = Number of monthly installments
Benefits of EMI Calculator
Planning
- • Plan your monthly budget effectively
- • Compare different loan options
- • Decide optimal loan tenure
Transparency
- • Know exact monthly payment
- • Understand interest vs principal split
- • Calculate total interest payable
Related Finance Tools
GST Calculator
Free GST Calculator India: Calculate Goods and Services Tax (GST) instantly with CGST, SGST, and IGS...
Income Tax Calculator
India's Most Accurate Income Tax Calculator for FY 2024-25, 2025-26 & 2026-27. Includes HRA exemptio...
PPF Calculator
Free PPF Calculator: Calculate Public Provident Fund (PPF) maturity amount, returns, and interest. P...