Equated monthly instalment
EMI Calculator
Break a loan into monthly EMI, total interest and a year-wise payoff schedule.
Formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where r is the monthly rate and n is the number of months.
About this calculator
An EMI is a fixed monthly debit covering interest first, then principal. Early years are interest-heavy — which is why a prepayment in year 2–3 saves more than the same rupee in year 15.