EMI calculator
Loan instalment with full amortisation schedule
Worked example
Using the default values, emi calculator gives a monthly emi of ₹22,493.
| Item | Value |
|---|---|
| Total payment | ₹53,98,356 |
| Tenure | 240 months · 20 yr |
| Interest as % of loan | 115.9% |
| Lump sum | None — add one above to see the saving |
What you need
- Loan amount
- Interest rate
- Tenure
- Extra lump sum, paid once
- Paid in month number
Questions
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is the monthly rate and n the number of months. Interest is charged on the reducing balance, so early instalments are mostly interest.
Does prepaying reduce the tenure or the EMI?
This calculator reduces the tenure and keeps the EMI constant, which saves the most interest. Most lenders offer either option.