Loan Details
Loan Amount
₹
Interest Rate
% p.a.
Loan Tenure
Years
Your EMI Breakdown
Monthly EMI
₹0
Per month × 0 months
Principal
—
Total Interest
—
Total Payment
—
Principal vs Interest
Interest rate
8.5%
Principal Amount
Total Interest
Year-by-Year Amortization Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|
How EMI Is Calculated
The EMI Formula
EMI uses the reducing-balance method — interest is charged only on the outstanding principal, not the original amount.
EMI = P × R × (1+R)ᴾ / ((1+R)ᴾ − 1)
P = Principal | R = Monthly rate
N = Total months (years × 12)
P = Principal | R = Monthly rate
N = Total months (years × 12)
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay the lender every month until the loan is fully repaid. Each payment covers both interest and a portion of the principal.
How to Reduce Your EMI?
Make a larger down payment, negotiate a lower interest rate, or extend the tenure. Making part-prepayments reduces the outstanding principal and lowers future EMIs.