📊 General EMI Calculator
Universal calculator for any type of reducing balance loan.
Monthly EMI
₹2,125
Loan Amount
₹1,00,000
Total Interest
₹27,482
Total Payment
₹1,27,482
Payment Breakdown
Yearly Breakdown
Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹2,125 | ₹1,291 | ₹833 | ₹98,709 |
| 2 | ₹2,125 | ₹1,302 | ₹823 | ₹97,406 |
| 3 | ₹2,125 | ₹1,313 | ₹812 | ₹96,094 |
| 4 | ₹2,125 | ₹1,324 | ₹801 | ₹94,770 |
| 5 | ₹2,125 | ₹1,335 | ₹790 | ₹93,435 |
| 6 | ₹2,125 | ₹1,346 | ₹779 | ₹92,089 |
| 7 | ₹2,125 | ₹1,357 | ₹767 | ₹90,731 |
| 8 | ₹2,125 | ₹1,369 | ₹756 | ₹89,363 |
| 9 | ₹2,125 | ₹1,380 | ₹745 | ₹87,983 |
| 10 | ₹2,125 | ₹1,392 | ₹733 | ₹86,591 |
| 11 | ₹2,125 | ₹1,403 | ₹722 | ₹85,188 |
| 12 | ₹2,125 | ₹1,415 | ₹710 | ₹83,773 |
| 60 | ₹2,125 | ₹2,107 | ₹18 | ₹0 |
Universal EMI Calculator
Not all loans are specifically for cars, bikes, or homes. You might be taking an education loan, a business loan, or a loan against property. This General EMI Calculator is designed to work with any type of reducing balance loan.
Simply enter the principal loan amount, the annual interest rate offered by the lender, and the tenure in either years or months. The calculator will instantly show your Equated Monthly Instalment (EMI), along with a clear visual breakdown of how much interest you are paying compared to the principal.
Common Questions about EMIs
EMI stands for Equated Monthly Instalment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly instalments are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off.
The mathematical formula to calculate EMI is: EMI = P × R × (1+R)^N / [(1+R)^N-1]. Here P = Principal or Loan Amount, R = Rate of Interest per month (Annual Rate/12/100), and N = Number of monthly instalments.
Yes, this is a universal EMI calculator. You can use it to calculate EMIs for car loans, home loans, personal loans, education loans, or any other reducing-balance term loan.
If you have a fixed-rate loan, your EMI remains the same throughout the tenure. If you have a floating-rate loan, your EMI (or loan tenure) may change if the bank revises its interest rates.