EMI Calculator
Calculate your monthly loan EMI, total interest, and total payment amount with detailed breakdown.
FAQ
EMI Calculator FAQ
What is EMI?
EMI (Equated Monthly Installment) is a fixed payment you make every month to repay a loan. It includes both principal repayment and interest charges.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal amount, r is monthly interest rate (annual rate/12/100), and n is total number of months.
Does this work for home loans, car loans, and personal loans?
Yes! The EMI formula is the same for all types of loans — home loans, car loans, personal loans, education loans, etc. Just enter the appropriate loan amount, rate, and tenure.
What is the difference between flat rate and reducing rate?
Our calculator uses the reducing balance method (most common). Interest is charged on the outstanding principal, which decreases each month. Flat rate charges interest on the full original amount.
Can I see the full amortization schedule?
Currently, we show the EMI amount, total interest, and total payment with a visual breakdown. A detailed month-by-month amortization schedule may be added in future updates.
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