Calculate your monthly loan payments (EMI), total interest, and view a complete amortization schedule for home loans, car loans, or personal loans.
Enter your loan details and calculate to see results here.
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are applied to both interest and principal each month so that over a specified time period, the loan is paid off in full.
Reducing Balance: EMI = [P × r × (1 + r)^n]/[(1 + r)^n - 1], where interest is calculated on the outstanding principal.
Flat Rate: EMI = (P + Total Interest) / n, where interest is calculated on the full principal for the entire tenure.