EMI Calculator
Calculate Equated Monthly Installments for home loans, car loans, and personal loans with amortization schedule.
₹
Monthly EMI₹0for 240 months
Total Interest₹052% of total
Total Payment₹0Principal: ₹1,000,000
₹8,678
Monthly EMI
Principal1,000,000
Interest1,082,776
How EMI Calculator Works
The EMI (Equated Monthly Installment) is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly installments.
This calculator uses the reducing balance method, which means interest is calculated on the outstanding principal balance each month. As you make payments, a larger portion goes toward principal repayment over time. The donut chart visualizes the total interest cost relative to your principal, helping you understand the true cost of borrowing.