EMI Calculator
Calculate your monthly loan EMI with bank-grade accuracy. Adjust the sliders and watch the results update instantly.
Loan Details
₹
₹50K₹2Cr
%
1%24%
130
Results
Monthly EMI
₹0/month
Principal₹0
Total Interest₹0
Total Payable₹0
Principal
Interest
Year-wise Repayment Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|
How it works
Indian banks calculate EMI on a reducing-balance basis: each month, interest is charged only on the outstanding principal. The formula is EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months. Early EMIs contain more interest; later EMIs pay down more principal — see the schedule above.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months. Indian banks use this reducing-balance formula.
Does a longer tenure always mean lower EMI?
The monthly EMI falls, but the total interest paid rises significantly. A 30-year loan can cost nearly double the principal in interest — compare the total interest before choosing.