EMI Calculator for Home Loan, Car Loan & Personal Loan
Calculate your monthly EMI, total interest payable, total repayment, and loan schedule.
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Yr
Switch between years and months.
Advance is commonly used for some vehicle loans; arrears is the usual default.
Payment Break-up
Principal Loan Amount--
Total Interest--
Total of Payments--
Schedule showing EMI payments starting from
| Year | Principal Paid | Interest Paid | Total Payment | Balance |
|---|
Click any year to expand its monthly payment schedule.
Yearly Principal, Interest & Balance Chart
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay every month toward a loan until the principal and interest are fully repaid.
Each EMI contains two parts: interest for the outstanding balance and principal repayment. Early payments usually contain more interest; later payments usually reduce more principal.
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
- P is the principal loan amount.
- r is the monthly interest rate.
- n is the tenure in months.