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Calculate your equated monthly installment (EMI), total interest, and complete repayment schedule for any loan in seconds.
EMI is a fixed monthly payment made by a borrower to a lender on a set date each month. It includes both principal repayment and interest, calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n − 1).
60 months (5.0 years)
per month
Enter a lump sum prepayment to see how it affects your total interest and loan tenure.
Formula
EMI = P x r x (1 + r)^n / [ (1 + r)^n - 1 ]EMI = the equated monthly instalment, the same amount every month for the whole term
P = the loan principal
r = the monthly interest rate, the annual rate divided by 12
n = the term in months
Worked Example
500,000 borrowed at 9% over 5 years
Did you know? The instalment stays flat but its split does not. On that loan interest is 36.1% of the first payment and 0.74% of the last, which is why paying extra early removes far more interest than the same amount paid late.
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