What this tool does
Enter the loan amount, annual interest rate and tenure to estimate a fixed-rate reducing-balance EMI. The detailed schedule separates principal and interest for every month.
Formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of payments.
Examples
₹10 lakh · 8.5% · 15 years
About ₹9,847 monthly EMI
Frequently asked questions
Does this include lender fees?
No. Processing fees, insurance, taxes, rate changes and prepayments are excluded.
What loan type does it model?
A fixed-rate reducing-balance loan with equal monthly instalments.