EMI Calculator

EMI = [P × R × (1+R)^N] ÷ [(1+R)^N – 1], where P is the principal loan amount, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the number of monthly instalments.

An amortization schedule is a table showing each monthly payment broken down into the principal repaid and the interest charged, along with the remaining loan balance after each payment.

You can reduce EMI by increasing the loan tenure (more months), making a larger down payment (smaller principal), or negotiating a lower interest rate with your lender.

Yes. A longer tenure reduces your monthly EMI but increases the total interest paid over the life of the loan. Use the calculator to compare different tenures.

This calculator uses the reducing balance method, which is the standard used by banks. Interest is charged only on the outstanding principal, not the original loan amount.