EMI Calculator
Amortization Schedule
Month | Opening | EMI | Interest | Principal | Closing |
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No data yet. Enter details and click Calculate. |
EMI Calculator – FAQs
1) How is EMI calculated?
We use the standard reducing-balance formula:
EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P = loan amount, r = monthly interest rate (annual/12), and n = number of months.
2) What do I enter—years or months?
Enter the tenure in months (e.g., 5 years = 60 months). If your tool has a years box, it converts to months automatically.
3) Does this work for part-prepayment?
The quick EMI result assumes no prepayment. If you make a part-payment, the EMI or the tenure changes. We’ll add a prepayment mode (reduce EMI or reduce tenure) if you need it.
4) Flat vs reducing interest—what’s the difference?
Flat rate charges interest on the original principal for the whole term (looks cheaper but isn’t). Reducing-balance (used by banks) charges interest on the outstanding balance each month—our calculator uses this.
5) Fixed vs floating rate—does it matter here?
Yes. The calculator shows a fixed-rate estimate. With floating rates, your actual EMI/tenure can change when the lender revises the rate.
Whenever we think about buying something big — a house, a car, or even taking a personal loan — the first thought that pops up is, “How much EMI will I have to pay every month?” That little number decides whether the dream feels light and achievable or heavy and stressful. And honestly, calculating EMI by hand with interest rates, tenures, and formulas can be a real pain. That’s exactly where an EMI Calculator comes to the rescue.
All you need to do is punch in three simple details — the loan amount, the interest rate, and the repayment tenure. Instantly, the calculator tells you your exact monthly EMI. No confusion, no complicated math. On top of that, it often shows you a full breakdown — how much you’ll pay towards the principal, how much towards interest, and the total repayment amount over the entire loan period.
This tool is super handy for anyone planning to take a loan. A homebuyer can test different tenures to see what fits their budget. A student can check the impact of education loan rates. Even someone thinking about a car or personal loan can quickly know if it’s affordable before saying yes.
The best part? It helps you make smarter financial decisions. By tweaking numbers, you can see how paying a little extra every month or choosing a shorter tenure can save you thousands in interest.
In short, the EMI Calculator is like your financial planner — simple, quick, and always honest about what you can truly afford.