Interactive EMI Calculator
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Plan custom parameters for home, car, or personal loans
Repayment Breakdown
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First 12 Months Breakdown
A monthly projection of your principal repayments and interest contributions.
| Month | Principal Component (A) | Interest Component (B) | Total Payment (A + B) | Remaining Balance |
|---|
How is EMI Calculated?
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.
The mathematical formula used to compute the exact monthly installment is:
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]- P (Principal): The actual sum of money borrowed from the lender.
- R (Interest Rate): Calculated per month (Annual interest rate divided by 12, then divided by 100).
- N (Tenure): Total number of monthly installments over the loan lifetime.
Tips to Lower Your Monthly EMI
Make Part-Prepayments
Paying off lump sums towards your principal periodically reduces both your overall interest outgo and future EMI installments.
Choose a Longer Tenure (For lower EMIs)
Increasing your tenure decreases your monthly liability but increases the cumulative interest paid. Use our slider to balance these parameters.
Balance Transfer Options
Compare interest rates and request balance transfers if another premium financial provider offers significantly lower interest rates.
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