Calculate your Equated Monthly Installment (EMI) for any home, car, personal or business loan. See the full month-by-month amortization breakup instantly.
The EMI calculator uses the standard reducing-balance formula used by Indian banks and NBFCs:
EMI = P × r × (1 + r)n / [(1 + r)n − 1]
Each EMI consists of two parts — the interest component and the principal component. In the early years of the loan, the interest component is higher because the outstanding principal is larger. As the loan progresses, the principal component increases and the interest component decreases, even though the total EMI stays constant.
EMI stands for Equated Monthly Installment. It is the fixed amount you pay every month towards repaying a loan, made up of a principal component and an interest component.
EMI is calculated using the formula EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
For fixed-rate loans, the EMI amount stays the same throughout the tenure. However, the proportion of principal and interest within each EMI changes — early EMIs have more interest, later EMIs have more principal.
Yes. Most lenders in India allow partial or full prepayment. Prepaying reduces your outstanding principal, which either reduces your EMI or shortens your tenure, depending on what you choose with your lender.
This calculator uses the standard reducing-balance EMI formula used by virtually all Indian banks and NBFCs. Actual EMI may vary slightly due to processing fees, GST on charges, or a lender's specific rounding method.
An Equated Monthly Installment (EMI) is the amount a borrower pays to a lender on a fixed date each month, comprising both the principal repayment and the interest charge. Whether you're taking a home loan, car loan, personal loan, or education loan, knowing your EMI in advance helps you plan your monthly budget and assess loan affordability before you apply.
This Hisaab.in EMI calculator works for any loan type — simply enter the loan amount, the rate of interest offered by your bank, and the repayment tenure. The calculator instantly shows your monthly EMI, the total interest you'll pay over the life of the loan, and the total amount payable. You can also view a detailed year-wise amortization schedule that shows exactly how much of each year's payments go toward principal versus interest.
Use this tool before applying for a loan to compare offers from different banks, or use it alongside our Loan Eligibility Calculator and Loan Prepayment Calculator to plan your borrowing more effectively.
