EMI Calculator
Plan your loan repayment with our easy-to-use EMI calculator. Adjust the sliders to see how different loan amounts and tenures affect your monthly payments.
Adjust Loan Parameters
Important Information
- EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the loan amount, R is the interest rate per month, and N is the number of monthly installments
- This calculator provides an estimate. Actual EMI may vary based on processing fees and other charges
Loan Summary
Your Monthly EMI
₹0
Principal Amount
₹1,00,000
Total Interest
₹0
Total Amount
₹0
Interest Rate
12% p.a.
Payment Breakup
EMI Calculator FAQs
What is EMI?
EMI stands for Equated Monthly Installment. It's the fixed amount you pay to the lender each month until the loan is fully repaid. Each EMI payment includes both principal and interest components.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is the loan amount, R is the interest rate per month (annual rate divided by 12 and then by 100), and N is the number of monthly installments.
What is an amortization schedule?
An amortization schedule is a table that shows the breakdown of each EMI payment, including how much goes toward the principal and how much toward interest, as well as the remaining loan balance after each payment.