EMI Calculator
Plan your loan repayments with clarity and confidence.
Total principal amount you want to borrow.
$
Annual interest rate offered by the bank.
%
Total duration of the loan in years.
Yr
Monthly Payment
$ 0
Total Payment: 0
Interest
Total Interest Payable
0
Principal
Loan Amount
0
Amortization Schedule (Balance)
Documentation
How EMI Works
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
Reducing Balance Method
"Interest is calculated on the outstanding principal balance. As you pay, the interest component decreases."
The Math
E = P × r × [(1 + r)^n / ((1 + r)^n - 1)]
Where: E = EMI, P = Principal Loan Amount, r = Monthly Interest Rate, n = Tenure in Months.