🏦 Loan
EMI Calculator
Calculate your Equated Monthly Installment for any loan. Get monthly payment, total interest and a full amortization schedule instantly.
Loan Details
₹10K₹1 Cr
1%36%
1 yr30 yrs
Monthly EMI
₹--
per month
Principal--
Total Interest--
Total Payable--
Interest Ratio--
Breakdown
Principal
Interest
Formula
EMI = P × R × (1+R)N / [(1+R)N − 1]
P = Principal R = Monthly rate (Annual% ÷ 12 ÷ 100) N = Months
P = Principal R = Monthly rate (Annual% ÷ 12 ÷ 100) N = Months
Standard reducing-balance formula used by all RBI-regulated banks.
Year-wise Amortization
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|
Frequently Asked Questions
EMI stands for Equated Monthly Installment — the fixed amount paid to the lender every month. Each payment covers interest charged on outstanding principal plus a portion of principal repayment.
Yes, but you pay significantly more total interest. A ₹10L loan at 10% for 5 years: EMI ₹21,247, total interest ₹27,482. Same loan for 10 years: EMI ₹13,215, total interest ₹58,581.
Financial advisors recommend keeping all EMIs combined at 40-50% of your net monthly take-home salary. Above 50% leaves insufficient funds for savings and emergencies.