FinanceApp
All Tools
Free Tool

EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans.

Loan Details

₹
₹10K₹5Cr
1%30%

Monthly EMI

₹9,650
Total Interest
₹13,16,052
Total Amount
₹23,16,052

Payment Breakdown

₹23,16,052
Total Payment
Principal (43.2%)
Interest (56.8%)

Amortization Schedule

MonthEMIPrincipalInterestBalance
1₹9,650.22₹1,316.88₹8,333.33₹9,98,683.12
2₹9,650.22₹1,327.86₹8,322.36₹9,97,355.26
3₹9,650.22₹1,338.92₹8,311.29₹9,96,016.34
4₹9,650.22₹1,350.08₹8,300.14₹9,94,666.26
5₹9,650.22₹1,361.33₹8,288.89₹9,93,304.93
6₹9,650.22₹1,372.68₹8,277.54₹9,91,932.25
7₹9,650.22₹1,384.11₹8,266.1₹9,90,548.14
8₹9,650.22₹1,395.65₹8,254.57₹9,89,152.49
9₹9,650.22₹1,407.28₹8,242.94₹9,87,745.21
10₹9,650.22₹1,419.01₹8,231.21₹9,86,326.2
11₹9,650.22₹1,430.83₹8,219.39₹9,84,895.37
12₹9,650.22₹1,442.76₹8,207.46₹9,83,452.62

EMI Formula

EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)
  • P = Principal Loan Amount
  • r = Monthly Interest Rate (Annual Rate / 12 / 100)
  • n = Number of Monthly Installments

Related Tools

Simple Interest Calculator

Calculate simple interest on loans or investments. Enter principal, rate, and time to get instant results.

Open Calculator

Compound Interest Calculator

Calculate compound interest with various compounding frequencies. See how your money grows over time.

Open Calculator

ROI Calculator

Calculate Return on Investment for your investments. Compare different investment options easily.

Open Calculator

Income Tax Calculator

Calculate your income tax based on Indian tax slabs. Supports both old and new tax regimes.

Open Calculator

Learn About EMI

What is EMI?

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Types of Loans Using EMI

Home Loans

Typically 15-30 years tenure with lower interest rates

Car Loans

Usually 3-7 years with moderate interest rates

Personal Loans

Short-term loans with higher interest rates

Education Loans

For funding higher education expenses

Tips for Managing EMI

  • 1

    Keep your EMI below 40% of your monthly income

  • 2

    Consider prepayment options to reduce interest burden

  • 3

    Compare interest rates from multiple lenders

  • 4

    Choose a tenure that balances EMI affordability with total interest paid