Calculate monthly EMI for any loan with detailed amortization schedule, year-wise payment breakdown, and complete interest analysis.
Enter loan details to calculate EMI and view complete amortization schedule
Month-by-month payment breakdown showing how each EMI is split between principal and interest.
Input the total loan amount you wish to borrow using slider or number input
Enter the annual interest rate offered by your lender
Select loan repayment period in years (1-30 years)
Get instant EMI calculation with complete amortization schedule and year-wise breakdown
Standard reducing balance formula for precise monthly installment calculation
Month-by-month breakdown of principal and interest payments
Annual summary showing how much principal and interest paid each year
Interactive charts showing principal vs interest distribution
Instant recalculation as you adjust loan parameters
Works perfectly on all devices with responsive design
Plan your budget with accurate monthly EMI calculations
Evaluate different interest rates and tenures side-by-side
See exactly how much interest you'll pay over the loan period
Understand how each payment is split between principal and interest
No manual calculations or complex spreadsheets needed
Ensure EMI fits within your monthly budget before borrowing
EMI (Equated Monthly Installment) 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, ensuring that over a specified number of years, the loan is fully paid off along with interest.
Loan EMI is calculated using the reducing balance method with the standard formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is the principal loan amount, R is the monthly interest rate (annual rate ÷ 12 months ÷ 100), and N is the loan tenure in months. This formula ensures that you pay the same amount every month, with the proportion of principal and interest changing over time.
An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and interest that comprise each payment until the loan is paid off at the end of its term. In the early months, a larger portion of EMI goes toward interest. As the loan matures, more of the EMI goes toward principal repayment. This is because interest is calculated on the outstanding principal balance, which decreases with each payment.
Financial advisors recommend keeping your total EMI obligations (all loans combined) below 40-50% of your monthly net income. This ensures you have sufficient funds for other expenses, savings, and emergencies. For example, if your monthly income is ₹50,000, your total EMIs should not exceed ₹20,000-25,000. This ratio is also used by lenders to determine your loan eligibility.
Make smarter financial decisions with our comprehensive calculator suite