Smart EMI Calculator

Instantly calculate your loan EMI with detailed breakdown and live chart

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EMI Calculator

Payment Summary

Monthly EMI

Total Interest

Total Payment

Frequently Asked Questions

Everything you need to know about EMI calculation

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]
P = Principal
R = Monthly rate (Annual ÷ 12 ÷ 100)
N = Tenure in months

Reducing: Interest calculated on outstanding principal.
Flat: Interest on full loan for entire tenure.
This calculator uses reducing balance method.

Prepayment reduces your loan tenure and total interest, but EMI generally remains the same unless lender recalculates it.