What is the standard formula for calculating loan EMI?

The mathematical formula is: [EMI = (P × r × (1 + r)^n) / ((1 + r)^n - 1)], where P is Principal loan amount, r is monthly interest rate, and n is total tenure in months.

What is an Amortization Schedule?

An amortization schedule is an itemized breakdown showing how much of each monthly payment goes toward the principal loan balance versus interest charges over time.

Loan & Finance Engine

Loan EMI & Amortization Calculator

Calculate monthly loan installments, total interest charges, and review complete year-by-year repayment schedules.

Loan Principal Amount

Currency

Interest Rate (% per annum)

Loan Tenure

Monthly EMI Installment

₨ 22,497.90

● Principal Amount (74%) ● Total Interest (26%)

₨ 349,874.00

Total Interest Payable

₨ 1,349,874.00

Total Payment (Principal + Interest)

Yearly Amortization Schedule

Year	Principal Paid	Interest Paid	Total Paid	Remaining Balance

Frequently Asked Questions

How does loan tenure length impact total interest charges?

A longer tenure lowers your monthly EMI payment but significantly increases total interest paid over time. Shorter tenures minimize total interest charges.

Is this EMI calculator applicable for Home, Car, and Personal Loans?

Yes! It accurately calculates reducing-balance EMI installments for all types of bank loans, mortgages, and consumer financing schemes.