EMI Calculator

Calculate your equated monthly installment, view interest splits, and export your yearly amortization schedule.

Math Audited
Loan Amount$100,000
$
$1,000$10,000,000
Interest Rate8.5% p.a.
%
0%30%
Loan Tenure20 Years
years
1 Year40 Years
Monthly EMI
$868
48%
Principal
Principal Amount: 48.0%
Total Interest: 52.0%
Principal Amount$100,000
Total Interest Payable$108,278
Total Payment (Principal + Interest)$208,278
YearPrincipal PaidInterest PaidTotal PaymentEnding Balance
Year 1$1,990$8,424$10,414$98,010
Year 2$2,166$8,248$10,414$95,844
Year 3$2,358$8,056$10,414$93,486
Year 4$2,566$7,848$10,414$90,920
Year 5$2,793$7,621$10,414$88,127
Year 6$3,040$7,374$10,414$85,088
Year 7$3,308$7,106$10,414$81,779
Year 8$3,601$6,813$10,414$78,178
Year 9$3,919$6,495$10,414$74,259
Year 10$4,265$6,148$10,414$69,994
Year 11$4,643$5,771$10,414$65,351
Year 12$5,053$5,361$10,414$60,298
Year 13$5,499$4,914$10,414$54,799
Year 14$5,986$4,428$10,414$48,813
Year 15$6,515$3,899$10,414$42,299
Year 16$7,090$3,323$10,414$35,208
Year 17$7,717$2,697$10,414$27,491
Year 18$8,399$2,015$10,414$19,092
Year 19$9,142$1,272$10,414$9,950
Year 20$9,950$464$10,414$0

About the EMI Calculator

An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month so that over a specified number of years, the loan is paid off in full. It is the fundamental repayment structure for home loans, auto loans, personal loans, and student loans. Understanding EMIs helps borrowers plan their monthly budgets and optimize loan tenures and interest rates.

Mathematical Formula & Logic

The standard mathematical formula for calculating EMI (reducing balance method) is: EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1] Where: - P = Principal loan amount - r = Monthly interest rate (annual rate / 12 / 100) - n = Loan tenure in months (number of years × 12)

Step-by-Step Example

Calculate the EMI for a loan of $100,000 at an annual interest rate of 12% for a tenure of 5 years (60 months): 1. P = 100,000 2. r = 12 / 12 / 100 = 0.01 3. n = 60 4. EMI = [100,000 × 0.01 × (1.01)^60] / [(1.01)^60 - 1] 5. (1.01)^60 ≈ 1.816697 6. EMI = [1,000 × 1.816697] / [1.816697 - 1] = 1,816.697 / 0.816697 ≈ $2,224.44 per month.

Reference Data & Values

scenarioemitotal interest
5-Year Loan ($100k @ 8%)$2,027.64$11,658
10-Year Loan ($100k @ 8%)$1,213.28$25,593
15-Year Loan ($100k @ 8%)$955.65$42,017
20-Year Loan ($100k @ 8%)$836.44$60,746

Frequently Asked Questions

An EMI is a fixed payment amount made by a borrower to a lender at a specified date each calendar month to repay a loan over a set period.
The formula is: EMI = P * R * (1+R)^N / ((1+R)^N - 1), where P is the principal, R is the monthly interest rate, and N is the number of months.
Yes, if the loan has a floating interest rate, market fluctuations can cause the lender to adjust the interest rate, altering the EMI or tenure.
Higher interest rates increase both the monthly payment and the total interest cost. A lower rate reduces your monthly and overall debt burden.
Simple interest calculates interest only on the original principal. Reducing balance EMI calculates interest on the remaining outstanding balance.
At 0% interest, the EMI simplifies to the principal amount divided by the total number of months (EMI = P / N) with zero total interest payable.
Typically, basic EMI calculations do not include one-time processing fees, documentation charges, or insurance premiums, which are paid upfront.
A longer tenure reduces your monthly EMI payment but significantly increases the total interest accumulated over the lifetime of the loan.