💰 EMI Calculator
Calculate monthly EMI for home loan, car loan, or personal loan. See full amortization schedule.
Monthly EMI
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Total Interest
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Total Payment
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Principal: 0%
Interest: 0%
EMI Formula
- EMI = P • r • (1+r)^n / ((1+r)^n - 1)
- P = Principal loan amount, r = Monthly interest rate, n = Number of months
- Lower interest rate or shorter tenure = lower total interest paid
- Prepaying your loan reduces both tenure and total interest significantly
Frequently Asked Questions
What is a good EMI to income ratio?
Keep total EMIs under ±40% of your monthly take-home salary. Banks typically approve loans where EMI is under ±50% of income.
Does prepayment reduce EMI or tenure?
You can choose either. Reducing tenure saves more interest. Reducing EMI improves monthly cash flow.