EMI Calculator
Calculate the monthly EMI for any loan, see the full split between principal and interest, and generate a complete month-by-month amortization schedule — all in your browser.
About the EMI Calculator
EMI (Equated Monthly Installment) is the fixed amount you repay each month over the loan tenure. It is derived from the loan amount (principal), the annual interest rate, and the number of months. Early in the schedule most of each payment goes to interest; as the outstanding balance falls, a larger share goes to principal. This calculator uses the standard reducing-balance formula EMI = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where r is the monthly rate and n the tenure in months.
Frequently asked questions
- How is EMI calculated?
- EMI uses the reducing-balance formula EMI = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. The calculator applies this formula and also builds the full amortization schedule.
- What is an amortization schedule?
- An amortization schedule is a month-by-month table showing how each EMI is split between interest and principal, and how the outstanding balance reduces to zero by the final payment. You can export it as PDF or Word from this page.
- Does a longer tenure reduce my EMI?
- Yes. A longer tenure lowers the monthly EMI because the principal is spread over more months, but it increases the total interest you pay over the life of the loan. Use the tenure slider to compare the trade-off.
- Is my loan data sent anywhere?
- No. Every calculation runs entirely in your browser. No inputs are uploaded, stored on a server, or tracked.