Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Year-wise Amortization Schedule
| Year | Principal | Interest | Total Paid | Balance |
|---|
How to Use This Loan EMI Calculator
This universal loan EMI calculator works for any loan type. Just enter three values:
- Loan Amount — the principal amount you are borrowing
- Interest Rate — the annual rate charged by the lender (p.a.)
- Tenure — the number of years over which you will repay
The calculator instantly shows your monthly EMI, total interest payable, and total amount you will pay over the loan life. Use the amortization table to see year-by-year principal and interest breakdown.
Frequently Asked Questions
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed monthly amount you pay to the bank to repay both the principal and interest on your loan. Every month, a portion goes toward interest and the rest reduces the principal.
What is a good EMI to income ratio?
Most lenders recommend keeping your total EMIs (all loans combined) under 30–40% of your monthly take-home income. Banks typically use a FOIR (Fixed Obligation to Income Ratio) of 40–55% for loan approval.