EMI Calculator
Plan your loan repayments with our easy-to-use calculator and make informed financial decisions.
₹10,00,000
₹50K
₹5Cr
10%
5%
25%
10 Years
1 Yr
30 Yrs
Repayment Summary
Monthly EMI:
₹13,215
Principal Amount:
₹10,00,000
Total Interest:
₹5,85,809
Total Payable:
₹15,85,809
How EMI is Calculated
EMI (Equated Monthly Installment) consists of a principal portion and an interest portion. In the initial years, the interest component is higher, while the principal component is lower. This gradually reverses as you progress through the loan tenure.
The mathematical formula to calculate EMI is:
EMI = P x R x (1+R)^N / [(1+R)^N-1]
- P: Principal Loan Amount
- R: Monthly Interest Rate
- N: Loan Tenure in Months
Tips for Managing Your EMI
- Borrow within limits: Ensure your total EMIs do not exceed 40-50% of your monthly income.
- Choose right tenure: A longer tenure means lower EMI but higher total interest paid. Balance affordability with interest cost.
- Pre-payments: Use annual bonuses or extra income to make partial pre-payments to reduce the principal balance and save on interest.
- Never miss a payment: Set up auto-debit facilities to avoid late payment penalties and protect your credit score.