Instantly calculate your monthly loan payment breakdown and visual interest splits.
Detailed annual schedule of principal payment, interest payments, and remaining balance.
| Year | Principal (A) | Interest (B) | Total Paid (A+B) | Balance Remaining |
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Home, Car, and Personal Loan calculation resources
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are applied to both interest and principal each month, so that over a specified number of years, the loan is paid off in full.
EMI is calculated using a standard mathematical formula: EMI = [P x r x (1+r)^n] / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate, and n is the tenure in number of months. Our calculator handles this calculation instantly and provides a visual breakdown.
A loan amortization schedule is a complete table showing the breakdown of each periodic payment on an amortizing loan. It shows the amount of principal and interest that goes into each payment, along with the remaining balance after each payment period.
The interest rate directly impacts your monthly payments. A higher interest rate increases the total interest payable over the tenure, which in turn increases the monthly EMI. Even a small reduction in the interest rate can result in significant savings over long tenures.