Principal
Interest
Monthly EMI ₹0
Principal ₹0
Total interest ₹0
Total payment ₹0
Amortization schedule (year by year)
How EMI is calculated
EMI (Equated Monthly Instalment) uses the formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months. Early EMIs are mostly interest; later ones mostly principal — you can see this in the amortization schedule above.
FAQs
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of instalments.
A year-by-year breakup of your EMIs — principal vs interest and the balance left. Early years are interest-heavy.
Yes, but you pay more total interest. A shorter tenure means a higher EMI and less interest overall.