EMI Calculator | AgeCalc Pro

Guide: How It Works

EMI = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r is the monthly interest rate and n is the number of installments

Important Notes

This uses the reducing-balance method, the standard approach for bank and NBFC loans
A larger portion of early EMIs goes toward interest, with the principal share increasing over time
A longer tenure lowers the EMI but increases total interest paid
The month-wise schedule shows exactly how the interest/principal split shifts across the loan tenure

Who Is This Calculator For?

Home and car loan borrowers
Personal loan applicants
Anyone comparing loan offers

Examples

₹500,000 at 10% annual for 24 months: r=0.00833, EMI ≈ ₹23,072/month.

Frequently Asked Questions

Is the interest rate entered annually or monthly?

Annually; the calculator converts it to a monthly rate internally before applying the formula.

Does this include an amortization schedule?

This tool shows the monthly EMI and total interest; a full month-by-month schedule is not shown here.

About the Author

This tool is built and maintained by John Britto, a Full-Stack Developer with over 5 years of experience building secure web applications. Our mission is to provide free, private, and reliable tools for everyone.

🏦 EMI Calculator