Calculate your monthly loan payments (EMI) with detailed breakdown of principal and interest components.
Enter loan details to calculate your monthly EMI and see the payment breakdown.
EMI stands for Equated Monthly Installment. It's calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N-1], where P is principal, R is monthly interest rate, and N is the number of monthly payments.
Yes, making prepayments can significantly reduce your total interest burden. Most lenders allow partial or full prepayments, though some may charge prepayment penalties. Check with your lender for specific terms.
Our calculator uses the standard EMI formula and provides accurate results for most loan types. However, actual EMI may vary slightly due to processing fees, insurance, or different calculation methods used by specific lenders.