EMI Calculator
Calculate your Equated Monthly Installment (EMI) for Home, Car, or Personal loans with a detailed interest breakdown.
Your Monthly EMI
₹ 0
Principal Amount
₹ 0
Total Interest
₹ 0
Total Payable
₹ 0
How is EMI Calculated?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay back to the lender every month until the loan is fully repaid. Each EMI consists of both principal and interest components.
The EMI Formula
E = P × r × (1 + r)^n / ((1 + r)^n - 1)
- E: EMI amount
- P: Principal loan amount
- r: Monthly interest rate (Annual rate / 12 / 100)
- n: Loan tenure in months (Years × 12)
Principal vs Interest
In the initial years of your loan, a larger portion of your EMI goes toward paying off the interest. As the tenure progresses and the outstanding principal decreases, a larger portion of the EMI is directed toward the principal repayment. This process is called Amortization.