EMI Calculator
Monthly loan instalment (EMI), total interest and a month-by-month repayment table for home, car and personal loans.
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- Monthly EMI
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- Total interest
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- Total payment
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Repayment schedule
| Month | Payment | Principal | Interest | Balance |
|---|
How to use the EMI calculator
- Enter the loan amount, the yearly interest rate and the term.
- Read your monthly EMI, total interest and total payment.
- Open the repayment schedule to see each month's split between principal and interest.
The same calculation works in any currency: taka, rupees, dollars or euros.
Frequently Asked Questions
What is EMI?
EMI (equated monthly instalment) is the fixed amount you pay every month on a loan. Each payment covers that month's interest and pays back part of the loan; early payments are mostly interest, later ones mostly principal.
What is the EMI formula?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n the number of months.
Does it include processing fees or insurance?
No. Banks may add processing fees, insurance or taxes. Ask for the APR or total cost, and compare that between lenders.
How can I pay less interest?
Choose a shorter term, make a bigger down payment, or prepay part of the loan when you can. The schedule shows how much of each payment is interest.