EMI Calculator
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Years
Principal Amount
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Total Interest
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Monthly EMI
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Total Payment
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interest
- Principal Amount
- Total Interest
| Year | Principal Paid | Interest Paid | Balance |
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EMI Formula
EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ - 1]
Where:
P = Principal Loan Amount
r = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n = Total Months (Tenure in Years × 12)
What is an EMI Calculator?
An EMI (Equated Monthly Instalment) calculator helps you plan your loan repayments. Whether it's a home loan, car loan, or personal loan, knowing your monthly outgo in advance helps you budget effectively and choose the right loan tenure.
How to Reduce Your EMI
- Larger Down Payment: Reduces the principal, which directly reduces EMI.
- Longer Tenure: Spreads payments over more months, lowering EMI — but increases total interest.
- Better Credit Score: A CIBIL score above 750 helps you negotiate lower interest rates.
- Balance Transfer: Move to a lender offering a lower rate if you're mid-loan.