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EMI Calculator

EMI CalculatorLoan EMI + amortization table. Fast, free and secure — works in your browser. By AK Computer, Dwarka.

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How to use

  1. 1 Enter the loan or product amount to finance.
  2. 2 Enter the annual interest rate.
  3. 3 Set the tenure in months.
  4. 4 View the monthly EMI and the full amortization table.

Frequently Asked Questions

How is EMI calculated on a reducing balance basis?

EMI uses the formula P x r x (1+r)^n divided by ((1+r)^n minus 1), where r is the monthly rate and n is the number of months. Interest is charged only on the outstanding balance each month.

What is the difference between flat and reducing interest?

Flat interest is charged on the full amount for the whole tenure, so the effective rate is higher. Reducing balance charges interest only on the remaining principal, which is cheaper and more transparent.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI but increases the total interest paid. A shorter tenure raises the EMI but saves money overall, so balance affordability against total cost.