Loan EMI calculator
Know your monthly EMI before you borrow. Enter the loan amount, interest rate and tenure to see the EMI, total interest and a yearly repayment schedule.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹82,021.51 | ₹43,989.65 | ₹417,978.49 |
| 2 | ₹90,161.95 | ₹35,849.22 | ₹327,816.54 |
| 3 | ₹99,110.31 | ₹26,900.86 | ₹228,706.23 |
| 4 | ₹108,946.76 | ₹17,064.40 | ₹119,759.47 |
| 5 | ₹119,759.47 | ₹6,251.70 | ₹0.00 |
Reducing-balance method, as banks use. Fees and rounding can make your bank’s figure differ slightly.
Monthly EMI
₹10,500.93
- Principal
- ₹500,000.00
- Interest
- ₹130,055.84
- Total payment
- ₹630,055.84
How to calculate EMI
- 1
Enter the loan amount
The amount you borrow.
- 2
Add the rate and tenure
The yearly interest rate, and the tenure in years or months.
- 3
See the EMI
With total interest and the yearly schedule.
Questions people ask
What is the EMI formula?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months.
Is this exact?
It uses the standard reducing-balance method banks use. Your bank’s figure can differ slightly because of processing fees or rounding.
Is it free?
Yes, completely free with no limit.
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