EMI Calculator | EMI | Calculate EMI

EMI Calculator

Loan		1 m/10 Lac
Tenure
Interest	%

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EMI

10,143

Interest

825,680

Principal

1,000,000

Total

1,825,680

825 K
(8 Lac)

15 Year

1,000,000

509 K
(5 Lac)

Year

Original

Reduced 𝒊

How to Reduce Interest/ Tenure?

Pay Extra EMI every year. 𝒊
Increase EMI by % every year. 𝒊
Pay Lump-Sum in year. 𝒊

Loan Summary
Loan start year
Tenure reduced	5 year 11 months
Interest saved	316,182

Loan Summary

Loan start year

Tenure reduced

5 year 11 months

Interest saved

316,182

Loan Payment Schedule

Original Reduced

203 K
(2 Lac)

152 K
(1 Lac)

101 K
(1 Lac)

50 K

2024

2031

2038

Balloon Payment

EMI

EMI or Equated Monthly Installment, is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month, so that over a specified number of years, the loan is fully paid off. This system allows borrowers to repay their loans in manageable amounts, making financial planning easier and more predictable. Whether it is a home loan, car loan, personal loan, or education loan, understanding and calculating EMIs is crucial for effective financial management. Our EMI calculator simplifies this process, helping you plan your repayments effortlessly.

Calculate EMI

Calculating EMI (Equated Monthly Installment) is crucial for managing your loan repayments effectively. To calculate EMI, you need three key pieces of information: the loan amount, the interest rate, and the loan tenure.
Use our EMI calculator to input these details and instantly determine your monthly payment. This tool simplifies budgeting, helps you compare loan options, and ensures you make informed financial decisions. Use our additional features to adjust extra EMIs, lump-sum payments, or annual EMI increases to reduce tenure or interest. Try our calculator today to calculate EMI and plan your finances better!

Why to choose our EMI Calculator?

Accuracy Matters: Our calculator provides highly accurate EMI calculations tailored to your specific loan requirements, ensuring you get precise figures every time.
User-Friendly Interface: With a sleek and intuitive design, our EMI calculator is effortless to navigate, making complex calculations simple and accessible for all users, regardless of their financial expertise.
Comprehensive Coverage: Whether you're calculating EMIs for a home loan, car loan, personal loan, or any other type of financing, our calculator covers it all. You can explore various repayment options, including flat rate, reducing balance, interest-first, deferred payment, and balloon payment EMIs, empowering you to make informed decisions about your finances.
Customized Solutions: We understand that every borrower's situation is unique. That's why our calculator allows you to customize inputs such as loan amount, interest rate, tenure, and repayment frequency, ensuring personalized results tailored to your needs.
Empowering Financial Planning: By providing transparent and comprehensive EMI breakdowns, our calculator empowers you to plan your finances with confidence. Whether you're budgeting for a new home, a dream car, or other major expenses, our tool equips you with the insights you need to manage your finances effectively.

EMI Calculator FAQ

Why is knowing your EMI important before taking a loan?

Knowing your EMI helps you plan your finances by giving a clear idea of monthly payments, ensuring the loan fits your budget. It also helps avoid future financial strain and better manage your long-term commitments.

How does an EMI calculator help?

An EMI calculator helps you quickly estimate your monthly payments, giving you a clear view of your financial commitments before taking a loan.

Can I reduce my EMI by making prepayments?

Yes, making prepayments reduces the loan principal, which in turn lowers your interest or shortens the loan tenure.

How extra EMI(s) help?

At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	15 year	825,680
1 Extra EMI/ year	13 year ▶ 2 year	697,394 ▶ 128,286
2 Extra EMI/ year	12 year ▶ 3 year	606,884 ▶ 218,796
3 Extra EMI/ year	11 year ▶ 4 year	539,424 ▶ 286,256

How increasing EMI helps?

As your income increases each year, you can get your EMI increased from the bank. This allows you to allocate more funds towards paying off the loan amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	15 year	825,680
Increase EMI by 1%	14 year ▶ 1 year	757,695 ▶ 67,985
Increase EMI by 3%	12 year ▶ 3 year	664,656 ▶ 161,024
Increase EMI by 5%	11 year ▶ 4 year	601,871 ▶ 223,809

How Paying Lumpsum Amount helps?

If you receive unexpected income, such as a bonus or tax refund, consider making a lump-sum payment on your loan. This can help reduce the outstanding loan amount and save you on the interest as well as tenure of the loan.

Payment	Tenure	Interest
Current	15 year	825,680
Pay 10% in 2nd year	13 year ▶ 2 year	636,748 ▶ 188,932
Pay 20% in 3rd year	11 year ▶ 4 year	536,628 ▶ 289,052
Pay 30% in 4th year	10 year ▶ 5 year	492,108 ▶ 333,572

How to Reduce Interest/ Tenure?

Making early payments towards Principal amount can reduce your Interest and/ or Tenure.

1. How extra EMI(s) help?

At the end of the year, you can pay extra EMIs out of your savings. This extra EMI payment will go towards your Loan Amount and save you on the interest as well as tenure of the loan.

2. How increasing EMI helps?

3. How Paying Lumpsum Amount helps?