FINBIZTOOLS
EMI Calculator
Estimate monthly loan payments, total interest and repayment with a detailed monthly amortization schedule.
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How to use the EMI calculator
Enter the loan amount, annual interest percentage and tenure in whole months. For example, 10 years is 120 months. Calculate displays your monthly EMI, total interest, total repayment and a collapsible monthly schedule.
Formula and assumptions
EMI = P × r ÷ [1 − (1 + r)^(−n)], where P is principal, r is annual percentage ÷ 1200 and n is the number of monthly payments. At 0% interest, EMI = P ÷ n. Payments occur at the end of each month. The model uses a fixed interest rate and a monthly reducing balance. Processing fees, insurance, taxes, rate changes, prepayments and daily interest conventions are excluded.
Example
For a ₹10,00,000 loan at 8.5% annual interest over 120 months, the monthly EMI is approximately ₹12,398.57. Total repayment is approximately ₹14,87,828.26. Figures use full precision internally, so adding rounded schedule amounts can differ by a few paise.
Supported inputs
Loan amount: ₹1 to ₹100 crore. Annual interest: 0% to 50%. Tenure: 1 to 600 whole months. Loan amount and rate accept decimals. The final payment clears the remaining balance; your lender may use different rounding rules.
Frequently asked questions
Does this include bank fees?
No. Ask your lender for the complete repayment schedule and charges.
Can I calculate an interest-free loan?
Yes. Enter a 0% annual interest rate.
What if my interest rate changes?
This calculator assumes a fixed rate. Recalculate with revised assumptions; it does not model a changing-rate schedule.
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Disclaimer
This calculator provides informational estimates, not financial, investment, lending or tax advice. Verify important decisions with a qualified professional. No financial outcome is guaranteed. Read our Disclaimer.