What Does the EMI Calculator Do?
The EMI Calculator works out the fixed monthly payment (Equated Monthly Installment) on any loan from three inputs: amount, annual interest rate and tenure. Alongside the EMI you get the total interest you will pay over the loan's life, the total repayment, interest as a percentage of the loan, and an expandable year-by-year amortization schedule showing how each year's payments split between principal and interest.
How to Calculate Your EMI
- Enter the loan amount, annual interest rate and tenure (years or months).
- Click Calculate EMI.
- Review the payment, total interest and full payment breakdown.
- Open the amortization schedule to see the principal/interest split per year.
Insights Hiding in the Numbers
- Early payments are mostly interest — in a long mortgage's first years, well over half of each EMI services interest; the schedule makes this visible.
- Tenure is a lever — stretching a loan lowers the EMI but can double the total interest. Compare a 15- vs 25-year run before signing.
- Rate sensitivity — try rates ±0.5% to see what refinancing or negotiation is worth in money terms.
- Affordability check — lenders typically want all EMIs under 40–50% of monthly income; know your number before applying.
The formula used is the standard reducing-balance EMI: P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where r is the monthly rate and n the number of months — the same math banks use.