EMI Calculator
Your monthly instalment, what the loan really costs in interest, and exactly how the balance comes down.
Monthly EMI
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- Principal
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- Total interest
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- Total payable
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- Interest per ₹100
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Amortisation schedule
How much of each year goes to principal versus interest.
Frequently asked
- What is the EMI formula?
- EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
- Why is so much of my early EMI going to interest?
- Interest is charged on the outstanding balance, which is highest at the start. The instalment stays the same, so early payments are mostly interest and later ones are mostly principal. The schedule below shows the crossover for your loan.
- Does prepaying a loan help?
- Substantially, and the earlier the better. A prepayment reduces the outstanding principal directly, so every rupee of interest that principal would have generated over the remaining tenure disappears with it.
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