Calculate your Equated Monthly Instalment for home loans, car loans, or personal loans. View total interest payable and a detailed amortisation schedule.
| Month | EMI | Principal | Interest | Balance |
|---|
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay to the lender each month until the loan is fully repaid. The formula used is:
EMI = P × r × (1+r)^n / ((1+r)^n − 1)
Where P = Principal loan amount, r = Monthly interest rate (annual rate / 12 / 100), and n = Total number of monthly instalments.