Free EMI Calculator Online India — Monthly EMI & Full Schedule
An EMI (Equated Monthly Instalment) is the fixed amount you pay each month on a loan — part interest, part principal. Early on most of it is interest; later, more goes to principal, which is why the total interest can surprise people. Seeing the full breakdown before you borrow helps you compare loans and afford the commitment. Enter the amount, rate and tenure to get your EMI, the total interest, and a month-by-month schedule.
Frequently Asked Questions
- How is EMI calculated?
- EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the loan tenure in months.
- Does a higher tenure reduce EMI?
- Yes — a longer tenure lowers the monthly EMI but significantly increases the total interest paid over the loan period.
- Can I calculate a home loan EMI?
- Yes — enter your home loan amount, the annual interest rate, and your tenure in years. The tool converts years to months automatically.