EMI Calculator

Calculate Equated Monthly Installments (EMI) for home, car, or personal loans. Generate standard interest summaries and amortization schedules.

Parameters
₹
%
Yrs
Calculated Results
Equated Monthly Installment (EMI) -
Total Interest Payable -
Total Loan Payments -
Visual Projection
Invested
Corpus
Yearly Breakdowns
YearOpening BalanceEMI PaidInterest PaidPrincipal PaidClosing Balance
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Understanding Reducing Interest Loans

EMIs are computed using a reducing balance method where interest is computed monthly on the outstanding loan balance.

Formula & Mathematical Approach

Equated Monthly Installment (EMI) for reducing-balance loans.

r=Annual Rate12×100r = \frac{\text{Annual Rate}}{12 \times 100}
EMI=P×r×(1+r)Months(1+r)Months−1\text{EMI} = \frac{P \times r \times (1 + r)^{\text{Months}}}{(1 + r)^{\text{Months}} - 1}
Show Plain Text / Excel Formula 
Monthly Rate (r) = Annual Rate / 12 / 100
EMI = [P * r * (1 + r) ^ Months] / [(1 + r) ^ Months - 1]

Key Assumptions

  • Interest rate remains fixed during the loan tenure.
  • Payments are made at the end of each month.
  • No prepayments or penalty fees are included.