Calculator Inputs
Loan Summary
Monthly EMI
₹21493.90
Total Payment
₹1289634.00
Total Interest
₹289634.00
With Prepayment
Estimated revised tenure: 60 months
Estimated interest saved: ₹0.00
Formula used
EMI = P × r × (1+r)n / ((1+r)n - 1)
Same standard EMI logic used inside TrackMyRupee's loan module.
Amortization Preview
| Month | EMI | Principal | Interest | Balance |
|---|
How This EMI Calculator Helps You Plan Better
Before taking a loan, compare EMI affordability against your monthly budget. This calculator shows your fixed EMI, total amount repaid, and total interest outgo so you can avoid over-borrowing.
For existing borrowers, the monthly prepayment field shows how quickly you can close the loan and how much interest you can potentially save.
Best Use Cases
- Home loan EMI planning
- Car and bike loan affordability check
- Personal loan comparison across banks
- Prepayment strategy simulation
FAQ
Is this EMI calculator free?
Yes, it is free and public.
Can I use it for reducing-balance loans?
Yes. The EMI formula and amortization preview are based on reducing balance logic.
Will actual bank EMI differ?
Slightly, due to lender-specific rounding, processing fees, and payment date conventions.
Track EMI Payments
Use TrackMyRupee to track real repayments, changing interest rates, and principal closure progress.