Calculate your loan EMI, compare loan options, and plan your finances with ease.
Enter loan details to see results...
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| Enter loan details to calculate amortization schedule... | ||||
An EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. It includes both the principal loan amount and the interest, allowing you to repay your loan over a set period. Our advanced EMI calculator helps you determine your monthly EMI, total interest payable, and provides a detailed amortization schedule to plan your finances effectively.
Our tool is designed to be user-friendly and versatile. Follow these steps to calculate your EMI:
Use the Advanced Options tab to factor in extra monthly payments or a one-time lump sum to see how they reduce your loan tenure or interest costs. The Loan Comparison tab lets you compare two loan options side-by-side to choose the best deal.
Our EMI calculator is versatile and can be used for various loan types, including:
The EMI is calculated using the formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]
Where P = Principal, R = Monthly Interest Rate, N = Number of Monthly Installments.
Yes, you can reduce your EMI by opting for a longer loan tenure or making prepayments. Use our advanced options to simulate these scenarios.
Our calculator uses standard financial formulas and provides accurate results based on the inputs provided. Always consult your lender for final terms.
Ready to calculate your EMI? Use the calculator above or contact us for assistance!