EMI Calculator
Equated monthly installment on a reducing balance. Informational, not a bank EMI letter.
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How to calculate EMI
- Enter the amount, annual rate, and term in years.
- Optional: down payment and extra principal per payment.
- Read the contractual payment, totals, and the amortization table.
- Treat the figures as amortization arithmetic, not a lender quote.
EMI
Equated monthly installment, reducing-balance loan
| Payment | P × r(1+r)^n / ((1+r)^n − 1), r = periodic rate |
|---|---|
| Zero rate | Payment is principal / number of payments |
| Total paid | Payment × number of payments |
| Not included | Fees, insurance, tax, or a teaser rate |
What EMI is on this page
EMI here is the equated monthly installment of a fixed-rate reducing-balance loan: the same amortization formula as the loan calculator, with monthly payments as the usual case. It is not a flat-rate interest product and not a bank quote.
Reducing balance
Each installment covers interest on the remaining principal plus some principal. Early EMIs are more interest, later EMIs more principal. This page reports the level installment, total paid, and total interest, not a full amortization table.
Bank rounding and fees
Indian and other lenders may round the EMI, charge processing fees, or use a day-count that is not 12 equal months. Use this to check the standard formula. See the disclaimer.