Calculate your monthly loan EMI instantly. Adjust loan amount, interest rate and tenure to plan your repayments.
| Year | EMI paid | Principal | Interest | Balance |
|---|
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay your loan. It includes both principal and interest components. The formula used is:
Where P = Principal loan amount, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Loan tenure in months