EMI Calculator
Work out the monthly EMI, total interest and total payment for a home, car or personal loan, with a full amortization schedule. Runs in your browser - nothing is sent to a server.
₹10,00,000
Your monthly EMI is
₹8,678
Amortization schedule
Frequently Asked Questions
EMI stands for equated monthly installment, the fixed amount you pay every month to repay a loan. It is calculated as P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly payments.
Yes. It works for any loan with a fixed interest rate and equal monthly installments, including home, car, personal and education loans.
Interest is charged on the outstanding balance, which is highest at the start. So early installments are mostly interest and the principal part grows each month. The amortization schedule shows this month by month.
It should be very close, but banks may round differently, charge processing fees, or use a floating rate that changes over time. Treat the result as an estimate and confirm with your lender.
A shorter tenure or a lower rate reduces total interest, while a longer tenure lowers the EMI but increases interest. Try different tenures here to compare the trade-off.