EMI Calculator
Calculate your monthly EMI for home loan, car loan, or personal loan. View detailed amortization schedule with principal and interest breakup.
How to Use
Enter the loan amount (principal).
Enter the annual interest rate.
Enter the loan tenure in years or months.
Click 'Calculate' to see your monthly EMI, total interest, and amortization schedule.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay your loan. It includes both principal repayment and interest. The EMI stays the same throughout the loan tenure.
How is EMI calculated?
EMI is calculated using the formula: 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.
Does this work for all types of loans?
Yes! This calculator works for home loans, car loans, personal loans, education loans, and any other loan with a fixed interest rate and equal monthly payments.
What is an amortization schedule?
An amortization schedule shows the month-by-month breakdown of each EMI into principal and interest components, along with the remaining balance after each payment.