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EMI Calculator

Calculate your monthly loan installments (EMI) for home loans, car loans, and personal loans

Loan Summary

Monthly EMI₹8,678
Principal Amount₹1,000,000
Total Interest₹1,082,776
Total Payment₹2,082,776

Principal vs Interest Breakdown

Amortization Schedule (First 12 Months)

MonthEMIPrincipalInterestBalance
1₹8,678₹1,595₹7,083₹998,405
2₹8,678₹1,606₹7,072₹996,799
3₹8,678₹1,618₹7,061₹995,181
4₹8,678₹1,629₹7,049₹993,552
5₹8,678₹1,641₹7,038₹991,912
6₹8,678₹1,652₹7,026₹990,260
7₹8,678₹1,664₹7,014₹988,596
8₹8,678₹1,676₹7,003₹986,920
9₹8,678₹1,688₹6,991₹985,232
10₹8,678₹1,700₹6,979₹983,533
11₹8,678₹1,712₹6,967₹981,821
12₹8,678₹1,724₹6,955₹980,098

What is an EMI?

Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

Factors Affecting EMI

  • Loan Amount (Principal): The total amount you borrow. A higher loan amount leads to a higher EMI.
  • Interest Rate: The rate at which the bank lends you money. A higher interest rate increases your EMI.
  • Loan Tenure: The duration for which you borrow the money. A longer tenure reduces your monthly EMI but increases the total interest paid over the life of the loan.

How to Use this Calculator

Enter the following details to calculate your EMI:

  1. Loan Amount: The principal amount you wish to borrow.
  2. Interest Rate: The annual interest rate offered by the lender.
  3. Loan Tenure: The time period (in years) required to repay the loan.

The calculator will provide you with the monthly EMI, total interest payable, and the total amount payable (Principal + Interest).

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