Loan EMI Calculator
Calculate your monthly EMI (Equated Monthly Installment) for any loan amount, interest rate, and tenure.
EMI Calculation Results
Monthly EMI
₹ 0
Total Interest Payable
₹ 0
Total Payment
₹ 0
(Principal + Interest)Loan Breakup
Amortization Schedule
| Month | Principal (₹) | Interest (₹) | EMI (₹) | Balance (₹) |
|---|
About Loan EMI Calculator
Our Loan EMI Calculator helps you determine the Equated Monthly Installment (EMI) for your loans. EMI is the fixed amount you pay to the lender on a specific date each month until the loan is fully repaid.
How is EMI calculated?
The EMI is calculated using the formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where:
- P is the Principal loan amount
- R is the monthly interest rate (annual rate divided by 12 and then by 100)
- N is the loan tenure in months
Loan EMI Tips
How to reduce your loan EMI?
- Opt for a longer loan tenure
- Make a larger down payment
- Look for loans with lower interest rates
- Consider balance transfer to a loan with lower interest
Benefits of prepayment
Making prepayments can significantly reduce your interest burden. Even small prepayments can lead to substantial savings over the loan tenure.