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EMI Calculator
Calculate your Equated Monthly Installments with detailed amortization schedule
$100,000$10,000,000
1%20%
1 Year30 Years
Loan Breakdown
Yearly Payment Breakdown
What is EMI?
An Equated Monthly Installment (EMI) 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.
How EMI is Calculated:
EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]
- P = Principal loan amount
- r = Monthly interest rate (Annual rate / 12 / 100)
- n = Loan tenure in months
Key Points:
- In the initial years, a larger portion of EMI goes toward interest
- As time progresses, more of the EMI goes toward principal repayment
- Higher interest rates result in higher EMIs
- Longer tenure reduces EMI but increases total interest paid
Note: This calculator provides estimates. Actual EMI may vary based on lender policies, processing fees, and other charges. Always consult with your financial institution for exact figures.