Calculate your monthly EMI, total interest payable, and view the full amortization repayment schedule.
| Month | Opening Balance | Principal Paid | Interest Paid | EMI | Closing Balance |
|---|
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan. It includes both the principal and the interest component.
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1) where P = Principal, r = monthly interest rate, n = number of months.
This calculator uses the reducing-balance (flat reducing) method — the most common used by banks — where interest is calculated on the outstanding principal each month.