Finance & Money
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EMI Calculator
Calculate Equated Monthly Installment for any loan with amortization schedule.
Monthly EMI
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Total Payment
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Total Interest
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Frequently Asked Questions
EMI (Equated Monthly Installment) is the fixed monthly payment made to repay a loan. Each EMI consists of two parts: principal repayment and interest payment. In the early months, the interest portion is higher; as the loan matures, more of each payment goes toward principal.
EMI = P x r x (1+r)^n divided by ((1+r)^n minus 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly installments. This is the standard reducing balance method used by all banks.