EMI Calculator
Calculate your loan EMI instantly. Get detailed payment breakup, amortization schedule, and plan your finances better.
Loan Details
₹
₹10,00,000
%
8.5%
Years
20 Years
Loan Summary
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
What is EMI?
EMI (Equated Monthly Installment) is the fixed payment amount made by a borrower to a lender at a specified date each calendar month.
How is EMI calculated?
EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is principal, R is monthly interest rate, and N is tenure in months.
Tips to reduce EMI
Make a higher down payment, choose a longer tenure, negotiate for a lower interest rate, or make prepayments to reduce your EMI burden.