Instant EMI forecasting with 100% transparent reducing-balance calculation & zero hidden surprises.
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Observe how choosing different tenures affects your monthly outflow and total cumulative interest cost.
| Year | Opening Balance | Annual EMI Paid | Principal Repaid | Interest Repaid | Closing Balance |
|---|---|---|---|---|---|
| Year 1 | ₹ 5,00,000 | ₹ 2,05,068 | ₹ 1,42,200 | ₹ 62,868 | ₹ 3,57,800 |
| Year 2 | ₹ 3,57,800 | ₹ 2,05,068 | ₹ 1,63,550 | ₹ 41,518 | ₹ 1,94,250 |
| Year 3 | ₹ 1,94,250 | ₹ 2,05,068 | ₹ 1,94,250 | ₹ 10,818 | ₹ 0.00 |
All Indian banks and RBI-registered NBFCs compute standard Equated Monthly Installment (EMI) using the reducing balance method formula:
Where P = Principal Loan Amount, R = Monthly Interest Rate (Annual Rate / 12 / 100), and N = Number of monthly installments.
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