⚡ Free Online Tool
EMI Calculator
Calculate your exact monthly EMI, total interest payable, and see a full amortization breakdown for any loan — home, car, personal, or education.
❓ Frequently Asked Questions
How is EMI calculated? +
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ−1), where P = principal, r = monthly rate, n = total months. Our calculator applies this formula instantly.
What is a good EMI-to-income ratio? +
Financial advisors recommend keeping total EMIs below 40-50% of your monthly take-home income. Above 50% puts you at financial risk.
Does prepayment reduce EMI? +
Prepayment reduces the outstanding principal. You can either reduce the EMI amount or keep EMI the same and shorten the loan tenure — shortening tenure saves more interest.
What is the amortization schedule? +
The amortization schedule shows month-by-month breakdown of your EMI into principal and interest portions. Early EMIs are mostly interest; later ones are mostly principal.