DailyAppsEMI Calculator
Plan your loan repayment with our easy-to-use EMI Calculator. Enter the loan amount, interest rate, and tenure to get started.
₹
%
Loan EMI₹29,542Wait, you'll pay ₹23,17,594 in interest!
Principal
₹30,00,000
Interest
₹23,17,594
Total Payment
₹53,17,594
Repayment Schedule (Yearly)
| Year | Principal | Interest | Total Payment | Balance |
|---|---|---|---|---|
| 1 | ₹1,03,474 | ₹2,51,030 | ₹3,54,504 | ₹28,96,526 |
| 2 | ₹1,12,620 | ₹2,41,884 | ₹3,54,504 | ₹27,83,907 |
| 3 | ₹1,22,574 | ₹2,31,930 | ₹3,54,504 | ₹26,61,333 |
| 4 | ₹1,33,409 | ₹2,21,095 | ₹3,54,504 | ₹25,27,924 |
| 5 | ₹1,45,201 | ₹2,09,303 | ₹3,54,504 | ₹23,82,723 |
| 6 | ₹1,58,035 | ₹1,96,469 | ₹3,54,504 | ₹22,24,688 |
| 7 | ₹1,72,004 | ₹1,82,500 | ₹3,54,504 | ₹20,52,684 |
| 8 | ₹1,87,208 | ₹1,67,296 | ₹3,54,504 | ₹18,65,476 |
| 9 | ₹2,03,755 | ₹1,50,749 | ₹3,54,504 | ₹16,61,721 |
| 10 | ₹2,21,765 | ₹1,32,739 | ₹3,54,504 | ₹14,39,956 |
| 11 | ₹2,41,367 | ₹1,13,137 | ₹3,54,504 | ₹11,98,589 |
| 12 | ₹2,62,702 | ₹91,802 | ₹3,54,504 | ₹9,35,887 |
| 13 | ₹2,85,922 | ₹68,582 | ₹3,54,504 | ₹6,49,965 |
| 14 | ₹3,11,195 | ₹43,309 | ₹3,54,504 | ₹3,38,770 |
| 15 | ₹3,38,702 | ₹15,802 | ₹3,54,504 | ₹68 |
What is EMI?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
How to calculate EMI?
The formula to calculate EMI is:
E = P x R x (1+R)^N / [(1+R)^N-1]E
EMI Amount
P
Principal Loan Amount
R
Rate of Interest (Monthly)
N
Loan Tenure (Months)
Factors Affecting EMI
- Loan AmountHigher the loan amount, higher will be the EMI.
- Interest RateHigher interest rate leads to higher EMI and total interest payable.
- Loan TenureLonger tenure reduces the monthly EMI but significantly increases the total interest amount payable over the loan period.