Calculate your monthly EMI, total interest payable, and view a full amortization schedule for any loan.
| Monthly EMI | — |
| Total Principal | — |
| Total Interest | — |
| Total Payment | — |
| Loan Payoff Date | — |
| Interest / Principal % | — |
EMI (Equated Monthly Instalment) is calculated using the formula:
EMI = P × r × (1+r)ⁿ ÷ [(1+r)ⁿ − 1]
where P = principal, r = monthly interest rate, n = number of months.
An amortization schedule is a complete table of periodic loan payments showing the amount of principal and interest that make up each payment. Early payments consist mostly of interest; later payments consist mostly of principal.
Making prepayments or choosing a shorter loan term significantly reduces total interest. Even one extra EMI per year can reduce a 20-year loan by 2–3 years.
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