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EMI
Calculator
Calculate your monthly loan payment (EMI), total interest, and full amortization schedule instantly.
₹
Monthly EMI
₹22,727.84
per month for 24 months
Principal Amount
₹5,00,000
Total Interest
₹45,468.1
Total Amount Payable
₹5,45,468.1
PrincipalInterest (8.3%)
Frequently Asked Questions
What is EMI?▾
EMI (Equated Monthly Installment) is a fixed amount paid every month to repay a loan. It includes both the principal repayment and the interest component.
How is EMI calculated?▾
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 installments.
What happens if I extend my loan tenure?▾
A longer tenure reduces your monthly EMI but significantly increases the total interest you pay. Shorter tenures mean higher EMIs but lower overall cost.
What is an amortization schedule?▾
An amortization schedule shows the breakdown of each monthly payment into principal and interest components, and the outstanding balance after each payment.