EMI Calculator

Calculate your EMI and total interest due in a snap!

EMI Calculator

Loan Amount :
Tenure : 
Rate of Interest % :
*Use the slider to alter your Loan details.
Loan EMI

{{vm.emi_amount | INRCurrency}}

Total Interest Payable

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Total of Payments

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(Principal + Interest)

Your Monthly Loan EMI: {{vm.emi_amount | INRCurrency}}

# Beginning Bal (A) EMI (B) Interest Paid(C) Principal (B-C) Ending Payment (A-(B-C))
{{$index+1}} {{data.begining_bal || 0 | INRCurrency}} {{data.emi || 0 | INRCurrency}} {{data.interest || 0 | INRCurrency}} {{data.principal || 0 | INRCurrency}} {{data.ending_bal || 0 | INRCurrency}}
{{$index+1}} {{data.begining_bal || 0 | INRCurrency}} {{data.emi || 0 | INRCurrency}} {{data.interest || 0 | INRCurrency}} {{data.principal || 0 | INRCurrency}} {{data.ending_bal || 0 | INRCurrency}}

What is EMI Calculator?

Equated Monthly Instalment or EMI is a fixed sum that needs to be repaid according to the discussed terms on a monthly basis to the lender/bank until the amount has been paid for in the entirety. Divided into two parts, EMI consists of principal amount and the interest on the same distributed in a way that each month a sum can be paid till the loan tenure is completed. EMI is always paid on a fixed date every month and can be paid through post-dated cheques in lender’s favour or by giving them your auto-debit details.

To calculate your EMI:

EMI = [P x I x (1+I) ^ N] / [(1+I) ^ N-1] P - Principal sum or Loan amount I – Rate of Interest per month [To calculate rate per month: if the interest rate per annum is 14%, rate per month = 14 / (12 x 100)] N – No. of instalments

Instead of the wide-spread belief that equal divisions of principal and interest rates are repaid per month, in reality, the interest element is higher during the initial years and principal element is higher during the later years.

Here’s an example explaining the repayment process of your EMI – how the loan amount reduces during the period leading up to the end of the loan tenure

Loan Amount - Rs.1,00,000

Rate of Interest – 12%

Loan Tenure – 12 months

EMI per month at an annualized rate of 12% would be Rs.8,885 per month and the total interest element comes to Rs.6,619.

You can see that the interest to be repaid decreases with every passing month and the principal sum increases all the same.


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