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.
This loan calculator helps you estimate monthly EMI, total interest payable, and the full repayment amount before you apply for a home loan, car loan, education loan, or personal loan. Instead of guessing what a lender quote means, you can compare different combinations of rate, tenure, and principal in seconds.
The built-in amortization table is especially useful because it shows how each installment is split between principal and interest over time. That makes the page helpful for budgeting, prepayment planning, and deciding whether a shorter tenure or lower EMI fits your situation better. The results are informative for planning, but final bank calculations can vary based on fees, insurance, and lender-specific rules.
Compare how a 15-year and 20-year tenure changes EMI and total interest.
Check whether a lower down payment will push the monthly installment above your budget.
Test lender offers side by side using the same amount and tenure.