EMI Calculator
Monthly EMI
Total Interest
Total Payment
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|
What is it & why use it?
Compute monthly EMI, interest outgo and amortization schedule for loans. This tool on Calci.in explains concepts in plain language and lets you compare scenarios instantly.
Formula (explained)
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1]
Variables: P = Principal loan amount, r = Monthly interest rate, n = Number of EMIs.
Example calculation
₹10 lakh at 8% for 120 months → EMI ≈ ₹12,133; total interest ≈ ₹4.56 lakh (illustrative).
Benefits & use cases
• Check affordability
• Compare lenders
• Understand amortization
Related calculators on Calci.in
Mortgage Calculator
Loan Affordability Calculator
Stamp Duty Calculator
External references (authority sources)
RBI
Investopedia – Loan EMI
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FAQs
Q1: How is EMI calculated?
A: Using the standard amortization formula with your loan amount, interest rate, and tenure.
Q2: Does EMI remain constant?
A: Yes, in most fixed‑rate loans. In floating rate loans, EMI may change.
Q3: Can I prepay my loan?
A: Yes, many banks allow prepayment which reduces interest burden.
Q4: Is this tool mobile‑friendly?
A: Yes, all Calci.in calculators are optimized for mobile use.