EMI Amount Calculator
Estimate the fixed monthly payment required to repay a loan over a chosen tenure, broken down into Principal and Interest.
Breakdown
Monthly EMI
₹10,624
Total Interest
₹1,37,411
Total Payment
₹6,37,411
Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹81,134 | ₹46,348 | ₹4,18,866 |
| 2 | ₹89,630 | ₹37,852 | ₹3,29,236 |
| 3 | ₹99,015 | ₹28,467 | ₹2,30,221 |
| 4 | ₹1,09,383 | ₹18,099 | ₹1,20,837 |
| 5 | ₹1,20,837 | ₹6,645 | ₹0 |
What is EMI (Equated Monthly Installment)?
An EMI (Equated Monthly Installment) Calculator helps borrowers estimate the fixed monthly payment required to repay a loan over a chosen tenure. EMIs are commonly used for loans such as home loans, personal loans, car loans, and education loans.
Each EMI includes two components: principal repayment and interest payment. Over time, the interest portion decreases while the principal repayment increases, because interest is calculated on the remaining loan balance.
How EMI (Equated Monthly Installment) Works
Suppose you take a loan of ₹5,00,000 at 10% annual interest for 5 years. The calculator determines the fixed monthly payment required to repay the loan within the selected tenure.
Fixed Monthly Payment
Same EMI amount throughout the loan tenure
Reducing Interest
Interest portion decreases as principal is repaid
Increasing Principal
More of each EMI goes toward principal over time
Calculation Method
Formula:
Where:
- M = Monthly EMI
- P = Loan Principal (amount borrowed)
- i = Monthly interest rate (Annual Rate ÷ 12 ÷ 100)
- N = Total number of monthly installments
Assumptions:
- ✓ Reducing balance interest
- ✓ Fixed interest rate throughout tenure
- ✓ Monthly compounding
Key Benefits
Monthly EMI Amount
Know your exact monthly commitment
Total Interest Payable
See the true cost of borrowing
Compare Tenures
Evaluate different loan durations and rates
Plan Finances
Match loan repayments to your financial capacity
Important Disclaimer
This calculator provides estimated values for educational and planning purposes only. Actual EMI amounts may vary depending on lender policies, processing fees, rounding methods, or interest rate changes.
Always confirm final loan terms with your bank or financial institution before making borrowing decisions.