Loan / EMI Calculator
Calculate monthly EMI payments, total interest, and view the full amortization schedule for any loan.
Loan Details
EMI Result
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Monthly Payment (EMI)
💡 Definition
EMI (Equated Monthly Installment)
- EMI is the fixed monthly amount paid to the lender.
- It includes both principal repayment and interest.
- The formula is: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ - 1), where P = principal, r = monthly rate, n = number of months.
📖 How to use
Step by Step
- Enter loan amount, interest rate, and tenure
- Monthly EMI and total interest appear instantly
- Quick tenure buttons for common loan periods
- Scroll down for the full amortization schedule
🎯 Use cases
When to use
- Home loan / mortgage planning
- Car loan comparison
- Personal loan evaluation
- Understanding interest vs principal breakdown
Frequently Asked Questions
What is an amortization schedule?▾
An amortization schedule shows the breakdown of each monthly payment into principal and interest portions. Early payments are mostly interest; later payments are mostly principal.
How does interest rate affect EMI?▾
Higher interest = higher EMI and much more total interest paid. Even a 0.5% difference can mean significant savings over a 20-30 year loan.