FINANCE
EMI Calculator
Calculate monthly EMI, total interest and total payment. Free, instant results 100% in your browser - private & works offline.
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About EMI Calculator
EMI Calculator gives monthly EMI for home, car and personal loans. Early EMIs are interest-heavy; prepayments cut total interest sharply.
Formula
EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P = principal, r = monthly rate (annual/12/100), n = months.
Example
Rs 20 lakh home loan, 9% for 20 years (240 months)
EMI = Rs 17,995
Total payment = Rs 43,18,800
Total interest = Rs 23,18,800
Rs 2 lakh prepayment in year 2 saves ~Rs 5 lakh interest + 2 years tenure.
EMI = Rs 17,995
Total payment = Rs 43,18,800
Total interest = Rs 23,18,800
Rs 2 lakh prepayment in year 2 saves ~Rs 5 lakh interest + 2 years tenure.
FAQ
Why first EMIs are mostly interest?
Interest on large outstanding; principal reduces slowly initially.
Related: Prepayment Calculator • Eligibility Calculator • SIP Calculator