Which formula is used?

The standard reducing-balance formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n the number of months.

Is the result an official quote?

No. It is an indicative calculation for planning. Your bank's final figures may differ due to processing fees, insurance or a different rounding method.

Financial Calculators

EMI Calculator

Monthly instalment, total interest and full amortisation table.

Runs fully in your browser Free, unlimited, no watermark

Enter details

Loan amount₹

Interest rate (per year)%

Tenure (months)months

Monthly EMI

₹10,501

Principal: ₹5,00,000
Total interest: ₹1,30,056
Total payable: ₹6,30,056
Tenure: 60 months (5 years)

Amortisation schedule

How to use

1Enter the loan amount, annual interest rate and tenure.
2Read the EMI, total interest and total payable.
3Open the amortisation table and print it if the customer needs a copy.

About this tool

Work out the monthly instalment for any loan amount, interest rate and tenure. See the principal and interest split, the total repayment, and a month-by-month amortisation schedule you can print for the customer.