If you need to enter more precise values, you can type the values directly Use the slider to adjust the values in the EMI calculator form. EMI in advance OR EMI in arrears (for car loan only).Principal loan amount you wish to avail (rupees).You can calculate EMI for home loan, car loan, personal loan, education loan or any other fully amortizing loan using this calculator.Įnter the following information in the EMI calculator: With colourful charts and instant results, our EMI calculator is easy to use, intuitive to understand and is quick to Second along with visual charts displaying payment schedule and the break-up of total payment. Our EMI calculator automates this calculation for you and gives you the result in a split 6,19,220 as interest toward the loan.Ĭomputing EMI for different combinations of principal loan amount, interest rates and loanīy hand is time consuming, complex and error prone. 13,493 for 120 months to repay the entire loan amount. 10,00,000 from the bank at 10.5% annual interest for a period of 10 years (i.e., 120 months), then EMI = N is loan term / tenure / duration in number of months (i.e., r = Rate of Annual interest/12/100. R is rate of interest calculated on monthly basis. Successive payment, you'll pay more towards the principal and less in interest. The exact percentage allocated towards payment of the principal depends on the interest rate.Įven though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each The interest component of the EMI would be larger in the initial months and gradually reduce whenĬompared to the principal amount. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. It consists of the interest on loan as well as part of the principal amount to be repaid. Equated Monthly Installment – EMI for short – is the amount payable every month to the bank or any other financial institution
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