Smart EMI Calculator

Plan your finances better. Calculate your Equated Monthly Installment (EMI), analyze your repayment schedule, and find the perfect loan fit.

₹
1 Lac5 Cr
%
1%30%
Yr
1 Yr30 Yr

Your Monthly EMI

₹ 0

Principal Amount ₹ 0
Total Interest ₹ 0
Total Amount Payable ₹ 0

Yearly Repayment Schedule

Year Opening Balance EMI Paid (Yr) Principal Paid Interest Paid Closing Balance

What is an EMI?

Equated Monthly Installment (EMI) is the fixed amount payable to a moneylender or financial institution 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.

How is EMI Calculated?

The mathematical formula to calculate EMI is:

E = P × r × (1 + r)^n / ((1 + r)^n - 1)

Where:
E = EMI Amount
P = Principal Loan Amount
r = Monthly Interest Rate (Annual Rate / 12 / 100)
n = Loan Tenure in Months