Reducing-balance method
Monthly interest is calculated on the outstanding principal. Each instalment reduces the balance.
FREE EMI CALCULATOR
Free EMI Calculator
Use this free EMI calculator to estimate your monthly loan instalment, total interest and total repayment from the principal, annual interest rate and tenure.
FREE TO USE INSTANT RESULTS BROWSER-BASED
01 / LOAN DETAILS
Estimate your monthly EMI
Use the principal, annual interest rate and repayment period.
Estimated monthly EMI—
Total interest—
Total repayment—
02 / REPAYMENT SCHEDULE
First twelve monthly instalments
An illustrative view of how each payment is divided between interest and principal.
| Month | Opening balance | EMI | Interest | Principal | Closing balance |
|---|---|---|---|---|---|
| Enter loan details to calculate the schedule. | |||||
This estimate excludes processing fees, insurance and other lender charges unless included in the loan amount. Actual lender schedules may differ because of payment dates, rounding, rate resets and loan terms. Check the lender's official repayment schedule before borrowing.
HOW IT WORKS
Estimate your monthly loan instalment
Enter a loan amount, annual interest rate and repayment tenure to estimate the monthly EMI, total interest and total repayment under a standard reducing-balance calculation.
Monthly rate and tenure
The standard estimate divides the annual nominal interest rate by 12 and converts the total loan tenure into monthly instalments.
Read the schedule
Early payments generally contain a larger interest share, while the principal share increases as the balance reduces.
FREE EMI CALCULATOR
Estimate your monthly loan instalment
Enter a loan amount, annual interest rate and repayment tenure to estimate the monthly EMI, total interest and total repayment under a standard reducing-balance calculation.
Enter the loan amount
Add the principal amount you plan to borrow, excluding fees or insurance unless they are financed into the loan.
Set the interest rate and tenure
Enter the annual interest rate and the repayment period in years and additional months.
Review the repayment estimate
Compare the monthly EMI, total interest and total repayment, and inspect the first twelve rows of the illustrative schedule.
The estimate uses a fixed monthly rate equal to the annual nominal rate divided by 12 and assumes equal monthly instalments. Actual lender schedules can vary because of fees, insurance, payment dates, rate changes and rounding.
EMI Calculator FAQs
How is EMI calculated?
The standard reducing-balance formula uses the principal, monthly interest rate and number of monthly instalments. If the monthly rate is zero, EMI is simply principal divided by the number of months.
Does the EMI include processing fees or insurance?
No. The estimate excludes processing fees, insurance and other lender charges unless they are included in the principal you enter.
Will my lender's EMI be exactly the same?
Not necessarily. Lenders may use different day-count conventions, rounding, payment dates, reset rules or additional charges. Use the lender's official repayment schedule before making a borrowing decision.