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How to use Loan EMI Calculator
Loan EMI Calculator. Home, car and personal loan EMI. Interest is charged only on the outstanding principal each month, so the interest part falls and the…
The short answer
To calculate loan EMI, use EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r the monthly rate and n the months. A ₹10 lakh loan at 9% for 20 years is about ₹8,997 a month; ClickZM shows the EMI, total interest and total payment.
It runs in your browser. What you enter is not uploaded.
How to use it
Type or paste your input into the Loan EMI Calculator.
Choose any options you need.
See the result update instantly.
Copy the result or download it.
How the result is worked out
The EMI uses the reducing-balance method that banks and most lenders use: each month's interest is charged on the principal still outstanding, so early EMIs are mostly interest and later ones mostly principal. The amortisation table shows that split month by month.
Lenders round the EMI and may add processing fees, insurance or broken-period interest for the first month, so your sanction letter can differ slightly. On a floating-rate loan the EMI or the tenure changes whenever the rate changes.
Limits worth knowing
What is a reducing-balance EMI? Interest is charged only on the outstanding principal each month, so the interest part falls and the principal part rises over the loan.
How can I reduce my EMI? Choose a longer tenure, make a part-prepayment or negotiate a lower rate. A longer tenure lowers the EMI but raises total interest.