EMI Calculator
Calculate the equated monthly installment (EMI) for a home, car or personal loan, with a yearly breakdown.
EMI
13,215.07
- Total interest
- 585,808.84
- Total payment
- 1,585,808.84
- Months
- 120
Breakdown by year
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 61,341.84 | 97,239.04 | 938,658.16 |
| 2 | 67,765.13 | 90,815.75 | 870,893.03 |
| 3 | 74,861.03 | 83,719.86 | 796,032.00 |
| 4 | 82,699.96 | 75,880.93 | 713,332.04 |
| 5 | 91,359.72 | 67,221.16 | 621,972.32 |
| 6 | 100,926.28 | 57,654.61 | 521,046.04 |
| 7 | 111,494.58 | 47,086.31 | 409,551.46 |
| 8 | 123,169.52 | 35,411.37 | 286,381.94 |
| 9 | 136,066.98 | 22,513.91 | 150,314.97 |
| 10 | 150,314.97 | 8,265.92 | 0.00 |
Show the work
Number of months
n = years × 12
10 × 12 = 120
Rate per period
i = annual rate ÷ 100 ÷ 12
10 ÷ 100 ÷ 12 = 0.008333333333
EMI
PMT = P × i ÷ (1 − (1 + i) to the power of −n)
1,000,000.00 × 0.008333333333 ÷ (1 − (1 + 0.008333333333) to the power of −120) = 13,215.07
Estimates for general information only — not financial advice.
How it works
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r = annual rate ÷ 12 and n = months
Questions
- How does the EMI calculator work?
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r = annual rate ÷ 12 and n = months.
- What do I need to enter?
- Loan amount, Annual interest rate, Tenure, Tenure in. Optional fields can be left blank.
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