EMI Calculator
Calculate your monthly EMI amount for any loan with full amortization schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹17,356 | ₹3,190 | ₹14,167 | ₹19,96,810 |
| 13 | ₹17,356 | ₹3,472 | ₹13,885 | ₹19,56,724 |
| 25 | ₹17,356 | ₹3,779 | ₹13,578 | ₹19,13,094 |
| 37 | ₹17,356 | ₹4,113 | ₹13,244 | ₹18,65,608 |
| 49 | ₹17,356 | ₹4,476 | ₹12,880 | ₹18,13,924 |
| 61 | ₹17,356 | ₹4,872 | ₹12,485 | ₹17,57,672 |
| 73 | ₹17,356 | ₹5,302 | ₹12,054 | ₹16,96,448 |
| 85 | ₹17,356 | ₹5,771 | ₹11,585 | ₹16,29,812 |
| 97 | ₹17,356 | ₹6,281 | ₹11,075 | ₹15,57,286 |
| 109 | ₹17,356 | ₹6,836 | ₹10,520 | ₹14,78,350 |
| 121 | ₹17,356 | ₹7,441 | ₹9,916 | ₹13,92,436 |
| 133 | ₹17,356 | ₹8,098 | ₹9,258 | ₹12,98,928 |
| 145 | ₹17,356 | ₹8,814 | ₹8,542 | ₹11,97,155 |
| 157 | ₹17,356 | ₹9,593 | ₹7,763 | ₹10,86,386 |
| 169 | ₹17,356 | ₹10,441 | ₹6,915 | ₹9,65,827 |
| 181 | ₹17,356 | ₹11,364 | ₹5,992 | ₹8,34,610 |
| 193 | ₹17,356 | ₹12,369 | ₹4,988 | ₹6,91,796 |
| 205 | ₹17,356 | ₹13,462 | ₹3,895 | ₹5,36,358 |
| 217 | ₹17,356 | ₹14,652 | ₹2,705 | ₹3,67,181 |
| 229 | ₹17,356 | ₹15,947 | ₹1,410 | ₹1,83,050 |
| 240 | ₹17,356 | ₹17,234 | ₹122 | ₹0 |
How EMI is Calculated
P = Loan amount | r = Monthly rate (annual ÷ 12 ÷ 100) | n = Total months
Each EMI has two components — interest (calculated on remaining balance) and principal repayment. Early EMIs are interest-heavy; later ones are principal-heavy.
Frequently Asked Questions
What is EMI?
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 principal and interest components.
How is EMI calculated?
EMI = P × r × (1+r)^n / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly installments.
Does prepayment reduce EMI or tenure?
Prepayment typically reduces the loan tenure while keeping EMI the same. Some banks offer the option to reduce EMI instead. Either way, you save significantly on total interest.
What is a good EMI-to-income ratio?
Financial advisors recommend keeping total EMIs below 40% of your monthly income. Banks typically approve loans where EMI is 40-50% of net monthly income.
Can I change my EMI amount?
Most banks allow restructuring of EMIs through prepayment or tenure modification. Some floating-rate loans automatically adjust EMI when the base rate changes.