EMI Calculator
Calculate your monthly loan payments with detailed breakdown. Enter your loan details below to get started.
Loan Information
Rs.
Amount in words: Rs. 10.00 Lakh
%
Monthly rate: 1.00% per month
Years
Months
Total duration: 60 months
Your Monthly EMI
Rs. 22,244.448
Pay this amount every month for 60 months
Rs. 1,334,666.861
Total Payment
Rs. 334,666.861
Total Interest
33.5%
Interest Rate
Loan Summary
Loan Details
Principal Amount:Rs. 1,000,000
Interest Rate:12% per year
Loan Tenure:5Y 0M
Total Months:60 months
Payment Breakdown
Monthly EMI:Rs. 22,244.448
Total Amount:Rs. 1,334,666.861
Total Interest:Rs. 334,666.861
Interest Ratio:33.5%
💡 Key Insights
- • You will pay Rs. 334,666.861 extra as interest
- • Interest makes up 25.1% of your total payments
- • Each EMI contains both principal and interest components
How EMI Works
💡 EMI Formula
EMI = [P × R × (1+R)^N] / [(1+R)^N-1]
Where P=Principal, R=Monthly Rate, N=Months
⏰ Payment Structure
Early payments have more interest, later payments have more principal. Total EMI stays the same.
💰 Save Money
Make prepayments towards principal to reduce total interest. Even small amounts help significantly.
Note: This calculator provides estimates. Actual EMI may vary based on bank policies, processing fees, and other charges.