EMI Calculator
Loan EMI, total interest & yearly breakdown
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About the EMI Calculator
Before you take a loan, know exactly what you will pay. Enter the loan amount, interest rate and tenure to see your monthly EMI, the total interest and the total amount you will repay, with a chart and a year-by-year breakdown of principal and interest.
How to use it
- Enter the loan amount and the yearly interest rate.
- Enter the tenure in years or months.
- Read the EMI, total interest and the year-wise table.
Frequently asked questions
How is EMI calculated?
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.
How can I reduce my EMI?
Choose a longer tenure, negotiate a lower rate or make a larger down payment. A longer tenure lowers the EMI but increases the total interest.
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