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EMI Calculator
Free EMI calculator for Indian loans. Get monthly EMI, total interest, and full repayment schedule for home, car, and personal loans using reducing balance method.
Loan Details
How to Use the EMI Calculator
Enter loan amount, interest rate, and tenure. The tool instantly shows your monthly EMI, total interest, and full amortization schedule. All calculations happen in your browser.
Frequently Asked Questions
How is EMI calculated in India?
Using the reducing balance method. The formula is EMI = [P × r × (1+r)^n] / [(1+r)^n – 1].
Does prepayment reduce my EMI or tenure?
Most Indian lenders first reduce the remaining tenure, though some allow you to choose lower EMI. Check with your bank.