EMI Calculator
Calculate your Equated Monthly Installments for Home, Car & Personal Loans
Loan Details
50K
1M
10M
1%
15%
30%
1 Year
15 Years
30 Years
Calculation Results
Monthly EMI
0
Total Interest
0
Total Payment
0
Interest to Principal Ratio
0:0
Loan Summary
Loan Type:
Home Loan
Processing Fee:
0
EMI Breakdown
Payment Over Time
Amortization Schedule (First 12 Months)
| Month | EMI | Principal | Interest | Outstanding |
|---|
How to Use This EMI Calculator
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified time period, the loan is paid off in full.
EMI Formula
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1]
Where: P = Principal loan amount, r = Monthly interest rate, n = Number of monthly installments
Step-by-Step Guide
- Select Loan Type: Choose between Home, Car, or Personal loan
- Enter Loan Amount: Input the principal amount you want to borrow
- Set Interest Rate: Enter the annual interest rate offered by your lender
- Choose Tenure: Select the loan duration in years or months
- Calculate: Click the calculate button to see your EMI and payment breakdown
- Review Results: Analyze the total interest, payment schedule, and charts
Tips for Better Planning
- Keep EMI under 40% of your monthly income
- Compare different loan tenures to find optimal EMI
- Consider prepayment options to reduce total interest
- Factor in processing fees and other charges
- Maintain a good credit score for better interest rates
Important Notes
- This calculator provides estimates based on the standard EMI formula
- Actual EMI may vary based on lender-specific terms and conditions
- Additional charges like processing fees, insurance, and taxes are not included
- Interest rates may vary based on your credit profile and market conditions
- Always consult with your lender for precise calculations and terms