Финансы
EMI Calculator
Calculate loan EMI with amortization schedule and prepayment analysis
Вопросы и ответы
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.
How to Use the EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan, plus total interest and total repayment.
- Enter the loan amount (principal).
- Enter the annual interest rate.
- Enter the loan tenure in months or years.
- Review your monthly EMI, total interest, and total amount payable.
EMI Formula
Equated Monthly Installment
P is principal, r is the monthly rate (annual ÷ 12 ÷ 100), and n is the number of months.
Example:
Input: P = 1,000,000, 9% for 20 years
Calculation: r = 0.0075, n = 240
Result: EMI ≈ 8,997/month
Real-World Use Cases
Home Loan Planning
Check whether a home-loan EMI fits your monthly budget before applying.
Comparing Tenures
See how a longer tenure lowers the EMI but raises total interest.
Prepayment Decisions
Estimate interest saved by shortening the tenure.
Tips & Common Mistakes
Tips
- Keep EMIs under ~40% of take-home pay.
- A shorter tenure costs more per month but far less total interest.
Common Mistakes to Avoid
- Focusing only on the EMI and ignoring total interest.
- Forgetting processing fees and insurance add-ons.