Finance
EMI Calculator
Calculate your equated monthly installment for any loan.
Monthly Payment (EMI)
Principal
Total Interest
Total Amount Payable
Amortization Preview
| Month | Principal | Interest | Balance |
|---|
How EMI Works
Each monthly payment covers two parts:
Interest
Balance × monthly rate. Highest in early payments.
Principal
EMI minus interest. Grows with each payment.
Over time the interest portion shrinks as the balance falls. This is amortization.
EMI Formula
P — principal loan amount
r — monthly interest rate (annual ÷ 12 ÷ 100)
n — total number of monthly payments
Tips to Reduce EMI
Larger down payment
Reduces principal, directly cuts EMI and total interest.
Shorter tenure
Higher EMI but far less total interest paid overall.
Better credit score
Qualifies for lower rates, reducing both EMI and total cost.
Prepayments
Extra principal payments shrink the balance and reduce future interest.