Online EMI Calculator
Calculate your monthly loan payments instantly. Adjust loan amount, tenure, and interest rates using our interactive sliders, and visualize your repayment schedule.
Loan Details
EMI Breakdown
How does an EMI Calculator work?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off.
The EMI Formula
E = P × r × (1 + r)^n / ((1 + r)^n - 1)
- E = EMI
- P = Principal Loan Amount
- r = Monthly Interest Rate
- n = Loan Tenure in Months
What is Amortization?
Amortization refers to spreading an intangible asset's cost over its useful life. In terms of a loan, it's the process of paying off debt with regular payments. Our calculator provides a detailed amortization schedule showing exactly how much goes toward principal vs interest every year.