EMI Calculator - Equated Monthly Installment
Calculate your Equated Monthly Installment to understand your loan payments and interest breakdown
EMI Calculator
Calculate your Equated Monthly Installment for loans
Your EMI Result
0
Monthly EMI
0
Total Interest
0
Total Payment
Payment Breakdown
60% Principal
40% Interest
Amortization Schedule (First 12 Months)
| Month | EMI | Principal | Interest | Balance |
|---|
About EMI
What is EMI?
Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
EMI Components:
- • Principal: The original loan amount
- • Interest: The cost of borrowing money
- • Tenure: The loan repayment period
EMI Formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Where P = Principal, R = Monthly Interest Rate, N = Loan Tenure in MonthsFactors Affecting EMI
- Loan Amount
- Interest Rate
- Loan Tenure
- Type of Interest (Fixed vs. Reducing)
Tips to Reduce EMI
- Increase down payment
- Opt for longer tenure
- Negotiate for lower interest rates
- Maintain good credit score
Note: This calculator provides estimates. Actual EMI may vary based on lender policies and additional charges.