Loan EMI Calculator & Amortization Schedule

⚡ Quick Answer

EMI (Equated Monthly Installment) is the fixed monthly payment amount made by a borrower to a lender on a specified date each month.

💡 How It Works

Uses the standard reducing-balance loan formula: $EMI = [P \\times r \\times (1 + r)^n] / [(1 + r)^n - 1]$, where $r$ is the monthly interest rate.

📖 How to Use Loan / EMI Calculator

1. Enter the total principal loan amount borrowed.
2. Enter the annual interest rate percentage.
3. Enter loan tenure in years.
4. Review monthly EMI payment and the amortization schedule.

✨ Key Features

• Month-by-month amortization schedule breakdown (Principal vs Interest)
• Tenure in years or months toggle
• Principal vs interest distribution chart

❓ Frequently Asked Questions