# EMI Calculator

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)

 Monthly EMI Total Amount with Interest Flat Interest Rate PA Flat Interest Rate PM Total Interest Amount Yearly Interest Amount
Sample Results
 Year Principal Interest Balance Amount 1 RS. 29,121 RS. 11,307 RS. 70,879 2 RS. 33,142 RS. 7,286 RS. 37,737 3 RS. 37,773 RS. 2,710 Rs. 0

Why EMI Calculator?
The widespread acceptance and usage of EMI calculator has placed this online tool to secure an important gateway for people applying for loan. This calculator is designed in such a way that a consumer applying for loan gets the most vital information about his forthcoming monthly outflow as payment of loan. The EMI calculator not only generates the exact amount for payment but is also a pathfinder for borrower as how much loan amount would be feasible for him. This tiny tool called as EMI calculator manifests an assumption about deduction of amount from monthly income.

Just by clicking on internet, you are able to land on web pages of different EMI calculators. Choose one for yourself and start punching each field step by step. In just a few moments after feeding in the EMI calculator, you will be able to know about the amount of monthly outgo on the intended amount of loan. Moreover, you would also be aware about total interest on loan amount for the entire period of loan. Hence, EMI calculator on one hand is proved to be a constructive tool to generate monthly outflow while on the other hand it is indicative in terms of total interest to be paid for the selected tenure of loan.

Usage of EMI Calculator
Frequently called as EMI or equated monthly installment is a simple result of three inputs that are punched in EMI tool available online. These inputs are
(A) Principle amount or amount received/intended amount from lender as loan
(B) Pre-fixed interest rate on loan amount
(C) Number of months/years/tenure

To simplify more, EMI may be defined as a pre-determined amount set by lender to be paid at specified date of every month till the entire loan is paid with interest. In other words, an EMI is composition of principal/loan amount and pre-fix interest rate for payment of loan along with tenure for payment. By knowing your EMI before jumping to apply for loan is of great help in personal budgeting. It will make you easy and financially comfortable in payment of loan.

By entering these values, you can get an indicative amount of your EMI. For an example, a loan amount of Rs. 23,00,000@interest rate of 11.00% per annum for the period of 299 months would indicate an EMI of Rs. 22556.91 per month.

The formula for EMI (in arrears) is:

Where E is EMI, P is Principal Loan Amount, r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.25% per annum, then r = 10.25/12/100=0.00854)

Amortization Chart
 YEAR PRINCIPAL INTEREST BALANCE AMOUNT 1 RS. 18,603 RS. 252,081 RS. 2,281,397 2 RS. 20,756 RS. 249,928 RS. 2,260,641 3 RS. 23,156 RS. 247,528 RS. 2,237,485 4 RS. 25,838 RS. 244,846 RS. 2,211,647 5 RS. 28,829 RS. 241,855 RS. 2,182,818 6 RS. 32,165 RS. 238,519 RS. 2,150,653 7 RS. 35,886 RS. 234,798 RS. 2,114,767 8 RS. 40,041 RS. 230,643 RS. 2,074,726 9 RS. 44,673 RS. 226,011 RS. 2,030,053 10 RS. 49,840 RS. 220,844 RS. 1,980,213 11 RS. 55,609 RS. 215,075 RS. 1,924,604 12 RS. 62,042 RS. 208,642 RS. 1,862,562 13 RS. 69,224 RS. 201,460 RS. 1,793,338 14 RS. 77,235 RS. 193,449 RS. 1,716,103 15 RS. 86,172 RS. 184,512 RS. 1,629,931 16 RS. 96,143 RS. 174,541 RS. 1,533,788 17 RS. 107,268 RS. 163,416 RS. 1,426,520 18 RS. 119,682 RS. 151,002 RS. 1,306,838 19 RS. 133,530 RS. 137,154 RS. 1,173,308 20 RS. 148,983 RS. 121,701 RS. 1,024,325 21 RS. 166,223 RS. 104,461 RS. 858,102 22 RS. 185,459 RS. 85,225 RS. 672,643 23 RS. 206,918 RS. 63,766 RS. 465,725 24 RS. 230,864 RS. 39,820 RS. 234,861