Loan EMI Calculator
Calculate monthly EMI, total interest, and full amortisation schedule
10.0%
10 yrs
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Monthly EMI
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Principal amount
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Total interest
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Total payment
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Interest ratio
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Year-by-year breakdown Show table ▼
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About EMI
What is EMI?
Equated Monthly Instalment (EMI) is the fixed amount you pay each month to repay a loan. It includes both the principal repayment and the interest component. Early in the loan tenure, most of the EMI goes toward interest; later, more goes toward principal.
EMI formula
EMI = P × r × (1+r)^n / [(1+r)^n – 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
How to reduce EMI?
You can reduce your EMI by choosing a longer tenure, making a larger down payment, or getting a lower interest rate by improving your CIBIL score. Prepaying part of the loan also reduces future EMIs.
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