EMI Calculator
Work out the fixed monthly installment on any loan — home, car, personal, or education — from just the principal, interest rate, and tenure, using the same reducing-balance formula banks use.
How EMI is Calculated
The Equated Monthly Installment (EMI) is calculated using a standard mathematical formula based on your loan amount, interest rate, and repayment tenure.
EMI Formula
EMI = P × R × (1 + R)N
(1 + R)N − 1
Principal (P)
₹10,00,000.00
Monthly Rate (R)
0.7083%
Tenure (N)
60 Months
Monthly EMI
₹20,516.53
Where: P represents the loan amount, R is the monthly interest rate, and N is the total number of monthly installments.
EMI Calculation Example
See how the EMI formula works with a practical example using the values you've entered.
Worked Example
Suppose you borrow ₹10,00,000.00 at an annual interest rate of 8.5% for 5 years.
Based on these values, your estimated monthly EMI is ₹20,516.53.
Every monthly EMI consists of two parts:
During the initial months, a larger portion of your EMI goes toward paying interest, while only a small portion reduces the principal amount.
As your loan progresses, more of each monthly EMI is applied toward reducing the principal, while the interest portion gradually decreases.
Amortization Schedule
View a month-by-month breakdown of your loan repayment, including EMI, principal paid, interest paid, and the remaining loan balance.
Swipe horizontally to view the complete repayment schedule.
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹20,516.53 | ₹13,433.20 | ₹7,083.33 | ₹9,86,566.80 |
| 2 | ₹20,516.53 | ₹13,528.35 | ₹6,988.18 | ₹9,73,038.45 |
| 3 | ₹20,516.53 | ₹13,624.18 | ₹6,892.36 | ₹9,59,414.28 |
| 4 | ₹20,516.53 | ₹13,720.68 | ₹6,795.85 | ₹9,45,693.60 |
| 5 | ₹20,516.53 | ₹13,817.87 | ₹6,698.66 | ₹9,31,875.73 |
| 6 | ₹20,516.53 | ₹13,915.74 | ₹6,600.79 | ₹9,17,959.98 |
| 7 | ₹20,516.53 | ₹14,014.31 | ₹6,502.22 | ₹9,03,945.67 |
| 8 | ₹20,516.53 | ₹14,113.58 | ₹6,402.95 | ₹8,89,832.09 |
| 9 | ₹20,516.53 | ₹14,213.55 | ₹6,302.98 | ₹8,75,618.53 |
| 10 | ₹20,516.53 | ₹14,314.23 | ₹6,202.30 | ₹8,61,304.30 |
| 11 | ₹20,516.53 | ₹14,415.63 | ₹6,100.91 | ₹8,46,888.67 |
| 12 | ₹20,516.53 | ₹14,517.74 | ₹5,998.79 | ₹8,32,370.94 |
| 13 | ₹20,516.53 | ₹14,620.57 | ₹5,895.96 | ₹8,17,750.37 |
| 14 | ₹20,516.53 | ₹14,724.13 | ₹5,792.40 | ₹8,03,026.23 |
| 15 | ₹20,516.53 | ₹14,828.43 | ₹5,688.10 | ₹7,88,197.80 |
| 16 | ₹20,516.53 | ₹14,933.46 | ₹5,583.07 | ₹7,73,264.34 |
| 17 | ₹20,516.53 | ₹15,039.24 | ₹5,477.29 | ₹7,58,225.10 |
| 18 | ₹20,516.53 | ₹15,145.77 | ₹5,370.76 | ₹7,43,079.33 |
| 19 | ₹20,516.53 | ₹15,253.05 | ₹5,263.48 | ₹7,27,826.27 |
| 20 | ₹20,516.53 | ₹15,361.10 | ₹5,155.44 | ₹7,12,465.18 |
| 21 | ₹20,516.53 | ₹15,469.90 | ₹5,046.63 | ₹6,96,995.28 |
| 22 | ₹20,516.53 | ₹15,579.48 | ₹4,937.05 | ₹6,81,415.79 |
| 23 | ₹20,516.53 | ₹15,689.84 | ₹4,826.70 | ₹6,65,725.96 |
| 24 | ₹20,516.53 | ₹15,800.97 | ₹4,715.56 | ₹6,49,924.99 |
| 25 | ₹20,516.53 | ₹15,912.90 | ₹4,603.64 | ₹6,34,012.09 |
| 26 | ₹20,516.53 | ₹16,025.61 | ₹4,490.92 | ₹6,17,986.48 |
| 27 | ₹20,516.53 | ₹16,139.13 | ₹4,377.40 | ₹6,01,847.35 |
| 28 | ₹20,516.53 | ₹16,253.45 | ₹4,263.09 | ₹5,85,593.90 |
| 29 | ₹20,516.53 | ₹16,368.57 | ₹4,147.96 | ₹5,69,225.33 |
| 30 | ₹20,516.53 | ₹16,484.52 | ₹4,032.01 | ₹5,52,740.81 |
| 31 | ₹20,516.53 | ₹16,601.28 | ₹3,915.25 | ₹5,36,139.53 |
| 32 | ₹20,516.53 | ₹16,718.88 | ₹3,797.65 | ₹5,19,420.65 |
| 33 | ₹20,516.53 | ₹16,837.30 | ₹3,679.23 | ₹5,02,583.35 |
| 34 | ₹20,516.53 | ₹16,956.57 | ₹3,559.97 | ₹4,85,626.78 |
| 35 | ₹20,516.53 | ₹17,076.67 | ₹3,439.86 | ₹4,68,550.11 |
| 36 | ₹20,516.53 | ₹17,197.63 | ₹3,318.90 | ₹4,51,352.47 |
| 37 | ₹20,516.53 | ₹17,319.45 | ₹3,197.08 | ₹4,34,033.02 |
| 38 | ₹20,516.53 | ₹17,442.13 | ₹3,074.40 | ₹4,16,590.89 |
| 39 | ₹20,516.53 | ₹17,565.68 | ₹2,950.85 | ₹3,99,025.21 |
| 40 | ₹20,516.53 | ₹17,690.10 | ₹2,826.43 | ₹3,81,335.11 |
| 41 | ₹20,516.53 | ₹17,815.41 | ₹2,701.12 | ₹3,63,519.70 |
| 42 | ₹20,516.53 | ₹17,941.60 | ₹2,574.93 | ₹3,45,578.10 |
| 43 | ₹20,516.53 | ₹18,068.69 | ₹2,447.84 | ₹3,27,509.42 |
| 44 | ₹20,516.53 | ₹18,196.67 | ₹2,319.86 | ₹3,09,312.74 |
| 45 | ₹20,516.53 | ₹18,325.57 | ₹2,190.97 | ₹2,90,987.18 |
| 46 | ₹20,516.53 | ₹18,455.37 | ₹2,061.16 | ₹2,72,531.80 |
| 47 | ₹20,516.53 | ₹18,586.10 | ₹1,930.43 | ₹2,53,945.71 |
| 48 | ₹20,516.53 | ₹18,717.75 | ₹1,798.78 | ₹2,35,227.96 |
| 49 | ₹20,516.53 | ₹18,850.33 | ₹1,666.20 | ₹2,16,377.62 |
| 50 | ₹20,516.53 | ₹18,983.86 | ₹1,532.67 | ₹1,97,393.77 |
| 51 | ₹20,516.53 | ₹19,118.33 | ₹1,398.21 | ₹1,78,275.44 |
| 52 | ₹20,516.53 | ₹19,253.75 | ₹1,262.78 | ₹1,59,021.70 |
| 53 | ₹20,516.53 | ₹19,390.13 | ₹1,126.40 | ₹1,39,631.57 |
| 54 | ₹20,516.53 | ₹19,527.47 | ₹989.06 | ₹1,20,104.09 |
| 55 | ₹20,516.53 | ₹19,665.79 | ₹850.74 | ₹1,00,438.30 |
| 56 | ₹20,516.53 | ₹19,805.09 | ₹711.44 | ₹80,633.21 |
| 57 | ₹20,516.53 | ₹19,945.38 | ₹571.15 | ₹60,687.83 |
| 58 | ₹20,516.53 | ₹20,086.66 | ₹429.87 | ₹40,601.17 |
| 59 | ₹20,516.53 | ₹20,228.94 | ₹287.59 | ₹20,372.23 |
| 60 | ₹20,516.53 | ₹20,372.23 | ₹144.30 | ₹0.00 |
EMI Calculator FAQs
Find answers to the most common questions about loan EMI, interest rates, repayment schedules, and how banks calculate your monthly installment.
Disclaimer
Results are estimates for informational purposes only and may differ from actual values. Do not make financial, investment, tax, or legal decisions based solely on these results. Verify important calculations with official sources or a qualified professional. CalcMint is not liable for any loss or damage resulting from the use of this calculator.
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