Free Tool
EMI Calculator
Plan your repayment before you apply. Edit values directly or use the sliders.
Loan Amount
₹10K₹50L
Interest Rate (% p.a.)
8%36%
Loan Tenure
3 mo360 mo
Monthly EMI
₹9,603
for 24 months
Principal — ₹2,00,000
Interest — ₹30,462
Principal Amount₹2,00,000
Total Interest₹30,462
Total Payable₹2,30,462
Amortization Schedule
Month-by-month principal & interest breakdown
24 months · ₹9,603/moInterest: ₹30,462
| # | Opening | EMI | Principal | Interest | Closing |
|---|---|---|---|---|---|
| 1 | ₹2,00,000 | ₹9,603 | ₹7,269 | ₹2,333 | ₹1,92,731 |
| 2 | ₹1,92,731 | ₹9,603 | ₹7,354 | ₹2,249 | ₹1,85,377 |
| 3 | ₹1,85,377 | ₹9,603 | ₹7,440 | ₹2,163 | ₹1,77,937 |
| 4 | ₹1,77,937 | ₹9,603 | ₹7,527 | ₹2,076 | ₹1,70,410 |
| 5 | ₹1,70,410 | ₹9,603 | ₹7,614 | ₹1,988 | ₹1,62,796 |
| 6 | ₹1,62,796 | ₹9,603 | ₹7,703 | ₹1,899 | ₹1,55,092 |
| 7 | ₹1,55,092 | ₹9,603 | ₹7,793 | ₹1,809 | ₹1,47,299 |
| 8 | ₹1,47,299 | ₹9,603 | ₹7,884 | ₹1,718 | ₹1,39,415 |
| 9 | ₹1,39,415 | ₹9,603 | ₹7,976 | ₹1,627 | ₹1,31,439 |
| 10 | ₹1,31,439 | ₹9,603 | ₹8,069 | ₹1,533 | ₹1,23,370 |
| 11 | ₹1,23,370 | ₹9,603 | ₹8,163 | ₹1,439 | ₹1,15,207 |
| 12 | ₹1,15,207 | ₹9,603 | ₹8,258 | ₹1,344 | ₹1,06,948 |
How is EMI Calculated?
Your Equated Monthly Instalment (EMI) is calculated using the standard reducing balance formula.
Formula:
EMI = [P × R × (1+R)ⁿ] / [(1+R)ⁿ - 1]
P
Principal Amount
Loan amount you borrow
R
Monthly Interest Rate
Annual rate ÷ 12 ÷ 100
n
Number of Months
Tenure in months
Higher credit score = Lower interest rate
Maintain a CIBIL score above 750 for the best loan rates.
Shorter tenure = Less total interest
Choose the shortest tenure you can comfortably afford.
Prepayment reduces interest
Making extra payments reduces your outstanding principal faster.