What is an EMI Calculator?
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
Our Advanced EMI Calculator helps you determine exactly how much outflow you will have each month, helping you budget your finances before approaching a bank. It supports all major loan types including Housing Loans, Vehicle Loans, and Personal Loans.
Key Features
Visual Breakdown
See a clear pie chart showing your Principal vs. Total Interest payable.
Yearly & Monthly View
Detailed amortization table to track your loan balance over time.
Accurate Math
Uses the standard reducing balance formula used by global banks.
Tenure Analysis
Easily compare how changing the years affects your monthly pocket.
How to Use This Calculator
Planning a loan doesn't have to be complicated. Follow these 3 simple steps to get your repayment schedule:
Enter Loan Amount
Input the total Principal amount you wish to borrow (e.g., $50,000 or ₹25,00,000).
Set Interest & Tenure
Input the annual interest rate (%) and the loan duration in Years or Months.
Analyze Schedule
Instantly see your monthly EMI. Scroll down to view the year-by-year payment breakdown.
Mastering Your Loan
The Golden Rule: Always try to prepay your loan in the early years. In the beginning, the majority of your EMI goes towards Interest, not Principal.
The EMI Formula Explained
Ever wondered how banks calculate this number? They use the following mathematical formula:
- P = Principal (Loan Amount)
- R = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
- N = Loan Tenure in Months
Factors That Affect Your EMI
- Interest Rate:
The biggest factor. A 0.5% difference might look small, but on a 20-year home loan, it equals thousands in savings.
- Loan Tenure:
Longer tenure = Lower EMI but Higher Total Interest.
Shorter tenure = Higher EMI but Lower Total Interest.