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EMI Calculator

Work out monthly EMI, total interest and the full amortization schedule of a loan.

How to use EMI Calculator

  1. Enter the loan amount, the annual interest rate and the loan tenure in years or months.
  2. The monthly EMI, total interest and total payment are computed instantly.
  3. Open the amortization schedule to see the principal and interest breakup for every month.

About EMI Calculator

An equated monthly instalment (EMI) is a fixed payment that combines principal and interest so the loan is fully repaid at the end of the tenure. Early in the schedule most of each payment covers interest; later in the schedule the principal portion grows.

The formula used here is the standard reducing-balance EMI formula. Rounding to two decimal places can cause a very small difference between the sum of payments and the theoretical total, which is why the last balance row may show a few rupees.

Features

  • Monthly EMI, total interest and total repayment
  • Slider and number inputs for the interest rate
  • Full amortization table with per-month principal, interest and balance
  • Tenure in years or months

Frequently asked questions

Why is the monthly amount slightly different from my lender figure?

Lenders may use a slightly different rounding method, processing fees, prepayment rules or day-count convention. Use the result as a planning estimate and confirm exact numbers with the lender.

Does the schedule include prepayments?

No. It shows a level EMI schedule with no extra payments. Prepaying principal reduces the total interest and shortens the tenure.

Can I use it for any currency?

Yes. The calculator works with any currency; the ₹ formatting is just a label. Enter numbers as plain amounts.

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