₹
EMICalc
Free · Instant · Accurate

Smart EMI Calculator

Calculate EMI for Home, Car, Personal, Education & more — with live amortisation breakdown.

🏠 Home Loan Details

Loan Type
₹1,00,000₹1,00,00,000
1%30%
6360
💡Tap any value badge to type an exact number, press Enter to apply.
Monthly EMI
₹26,035
for 240 months
Principal
₹30,00,000
Total Interest
₹32,48,327
Total Payment
₹62,48,327
Principal48%
Principal
48%
Interest
52%

📅 Amortisation Schedule — first 12 months

MonthEMI (₹)Principal (₹)Interest (₹)Balance (₹)
126,0354,78521,25029,95,215
226,0354,81921,21629,90,397
326,0354,85321,18229,85,544
426,0354,88721,14829,80,657
526,0354,92221,11329,75,735
626,0354,95721,07829,70,779
726,0354,99221,04329,65,787
826,0355,02721,00829,60,760
926,0355,06320,97229,55,697
1026,0355,09920,93629,50,599
1126,0355,13520,90029,45,464
1226,0355,17120,86429,40,293
What is EMI?

Equated Monthly
Installment Explained

An EMI is a fixed amount you pay your lender every month until the loan is fully repaid. It has two components — principal (the original loan) and interest (cost of borrowing).

In early months, more goes toward interest. Over time, the principal component grows — this is called amortisation.

The Formula
 EMI = P × R × (1+R)^N
────────────────────
(1+R)^N − 1
PPrincipal loan amount
RMonthly rate (Annual ÷ 12 ÷ 100)
NNumber of monthly installments
📉
Lower Rate
Smaller EMI
⚡
Short Tenure
Less interest
💎
Big Down Payment
Borrow less

Frequently Asked Questions

Everything you need to know about EMIs

EMI (Equated Monthly Installment) is a fixed payment you make to a lender each month to repay a loan. It includes both the principal and interest components, and remains constant throughout the loan tenure.
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P = principal, R = monthly interest rate (annual ÷ 12 ÷ 100), and N = number of monthly installments.
Yes! A larger down payment means you borrow less principal, which directly reduces your monthly EMI and the total interest paid over the loan tenure.
Absolutely. Prepayment reduces the outstanding principal, lowering future interest. Most lenders allow partial or full prepayment, sometimes with a small fee.
Missing an EMI incurs a late penalty, damages your credit score, and may attract legal action for continued defaults. Always inform your lender in advance.
Both options exist. Fixed rates stay constant. Floating rates change with the market benchmark (MCLR / repo rate), which can lower or raise your EMI over time.
A longer tenure reduces monthly EMI but increases total interest paid. A shorter tenure means higher EMI but significantly less interest overall.
No. This shows basic EMI based on principal, rate, and tenure. Processing fees, insurance, and other charges vary by lender and should be added separately.

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