EMI calculator with amount in words
Work out your monthly instalment, how much interest you will pay overall, and the yearly principal and interest split.
Result
Year-wise repayment
| Year | Principal paid | Interest paid | Balance |
|---|
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments.
Why is more of the early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest part shrinks and the principal part grows.
Does this include processing fees?
No. Fees, insurance and taxes are not included. Ask your lender for the full schedule.