EMI Calculator

EMI (Equated Monthly Installment) is a fixed payment made each month that combines both principal repayment and interest, calculated from the loan amount, annual interest rate, and tenure using a standard amortization formula.

No, for a standard fixed-rate loan the EMI stays the same every month. What changes internally is the split — early payments are mostly interest, later payments are mostly principal.

Yes. This is a general-purpose calculator — for loan-specific context (like collateral norms for gold loans or income-based limits for eligibility), use the dedicated calculator for that loan type instead.

Reducing balance calculates interest only on the outstanding principal each month, so interest decreases over time. Flat rate charges interest on the original principal for the entire tenure, which usually results in a higher effective cost for the same stated rate.

Your monthly EMI, the total interest payable over the full tenure, and the total amount you'll repay (principal plus interest) — recalculated instantly whenever you change principal, rate, or tenure.