Loan / EMI Calculator
Calculate monthly payments, total interest, and payoff schedules for loans.
How to use
- 1Enter the loan principal amount and interest rate.
- 2Set the loan tenure (in years or months).
- 3Analyze monthly EMI, total interest, and view the yearly or monthly amortization table.
Frequently Asked Questions
What is an EMI?+
EMI stands for Equated Monthly Installment. It is the fixed payment amount made by a borrower to a lender at a specified date each calendar month to pay off both interest and principal over a set number of years.
How does the amortization breakdown work?+
Amortization is the process of spreading out a loan into a series of equal periodic payments. In the early stages of the loan, a larger portion of each payment goes toward interest. Over time, as the remaining balance decreases, a larger portion goes toward paying off the principal.