Free online calculator
EMI Calculator
Estimate reducing-balance monthly EMI, total interest and a complete amortisation schedule.
Free calculator
EMI Calculator
Enter your values to see the result.
Formula explained
EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), where P is principal, i is monthly rate and n is the number of monthly instalments. At 0% interest, EMI = P ÷ n.
Worked example
Enter the loan amount, annual reducing-balance rate and tenure. The calculator provides EMI, total interest, total repayment and every monthly balance.
Limitations and assumptions
This is an illustration, not a lender quote or approval. Processing fees, insurance, taxes, rate resets, moratoriums, rounding and prepayments are excluded unless separately stated.
Frequently asked questions
Is this a reducing-balance EMI?
Yes. Interest is calculated each month on the outstanding balance.
Does it include bank fees?
No. Add processing fees and other charges separately when comparing loans.