EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan.
₹
%
Monthly EMI
₹20,758
Interest makes up 19.7% of your total payments.
Total interest
₹2.46 Lakh
Total payment
₹12.46 Lakh
Principal vs. interest
Yearly amortization
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹1,65,830 | ₹83,270 | ₹8,34,170 |
| 2 | ₹1,81,386 | ₹67,714 | ₹6,52,784 |
| 3 | ₹1,98,401 | ₹50,699 | ₹4,54,383 |
| 4 | ₹2,17,013 | ₹32,088 | ₹2,37,370 |
| 5 | ₹2,37,370 | ₹11,730 | ₹0 |
Formula
EMI = [P × r × (1+r)^n] / [(1+r)^n − 1]
Where P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly installments.
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Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan, covering both principal and interest, until the loan is fully paid off.
Why is more interest paid in the early months?
In an amortized loan, interest is calculated on the outstanding balance, which is highest at the start. As the principal reduces over time, a larger share of each EMI goes toward principal repayment.