Enter your loan details to see your monthly EMI, total interest, and total repayment.
EMI is calculated using the reducing balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly installments. This calculator does that math for you automatically.
Interest is charged on the outstanding balance, which is highest at the start of the loan, so early EMIs are weighted more toward interest. As the balance shrinks over time, a bigger share of each EMI goes toward principal instead.
That depends on your lender, but most loans let you choose: either keep the same EMI and finish the loan sooner, or reduce your EMI and keep the same tenure. Paying extra toward principal earlier in the loan saves more total interest than the same extra payment made later.
No, this calculates the core EMI based on loan amount, rate, and tenure only. Processing fees, insurance, or other charges some lenders add are separate and not included here.