EMI Calculator: Home, Personal, Car and Business Loan
Work out your monthly EMI, total interest and repayment schedule for any loan.
Your EMI
Interest and principal paid each year
Repayment schedule
| Year | Principal | Interest | Balance |
|---|
How EMI is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
In the early years most of each EMI goes towards interest, and the principal portion grows over time.
Keep in mind
The actual EMI depends on the lender’s rate, which may be floating, and on processing fees, insurance and other charges that this calculator does not include. A shorter tenure or part-prepayments reduce the total interest.
Frequently asked questions
Will my bank’s EMI match exactly?
It may differ slightly due to rounding, the first instalment date and any rate changes.
Does prepayment reduce my EMI?
Depending on the lender, prepayment can reduce either the tenure or the EMI. Ask your lender.
Can you help me get a loan?
We help you prepare documents and coordinate with banks. Approval is decided by the lender.
Read more: Home loan documents checklist · Other calculators: GST Calculator · Income Tax Calculator · HRA Calculator
This calculator gives an estimate for general information only. It is not tax, legal or financial advice, and results depend on your exact circumstances and the rules in force. Please confirm with a qualified professional or the official source before acting. See our Terms & Disclaimer.
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