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EMI Loan Calculator
Calculate your Equated Monthly Installment (EMI) for any loan. See total interest, payment breakdown, and full amortization schedule.
Amortization Schedule (First 24 months)
| Month | EMI | Principal | Interest | Balance |
|---|
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender each month. It comprises both principal and interest components.
What is the EMI formula?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly interest rate, n = number of months.
How can I reduce my EMI?
You can reduce EMI by increasing the loan tenure, making a larger down payment, negotiating a lower interest rate, or making periodic prepayments.