EMI Calculator
Estimate monthly loan repayments. Adjust loan principal, annual interest rates, and tenure to compute your monthly payments in real-time.
Parameters
Results Summary
This calculator determines the results based on the following standard financial formula for Equated Monthly Installment (EMI):
Variables Glossary
- EMI
- Equated Monthly Installment
- P
- Principal loan amount
- r
- Monthly interest rate (annual interest / 12 / 100)
- n
- Total loan tenure in months (years × 12)
Standard reducing balance loan formula, dividing monthly interest factors proportionally over total repayment months.
What is an EMI?
EMI stands for Equated Monthly Installment. It is a fixed amount of money paid by the borrower to the lender every calendar month to repay the loan principal and interest over a set tenure.
How does loan amortization work?
In early months of the loan, a larger portion of your EMI goes toward paying interest. As the balance decreases over time, more of your EMI is allocated toward reducing the principal amount.