EMI Calculator

EMI (Equated Monthly Instalment) is a fixed payment you make to your lender every month. It includes both principal repayment and interest. The EMI stays constant throughout your loan tenure.

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = Principal, R = Monthly interest rate, N = Number of months. Our calculator uses this exact formula for 100% accurate results.

An amortisation schedule shows month-by-month breakup of your EMI — how much goes toward principal and how much toward interest. In early months, more goes to interest; later, more goes to principal.

Yes! You can reduce EMI by: (1) Making a larger down payment, (2) Choosing a longer tenure, (3) Negotiating a lower interest rate, or (4) Making part-prepayments to reduce principal.

Most banks give you the option to either reduce your EMI amount or reduce your tenure. Reducing tenure saves more interest overall, while reducing EMI improves your monthly cash flow.