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Loan Parameters
₹ 10,00,000
8.75 %
15 Years
Repayment Breakdown
Estimated Monthly EMI
₹ 10,000
Total Interest Payable
₹ 7,68,000
Total Amount Payable (Principal + Interest)
₹ 17,68,000
EMI results are estimates for informational purposes only. Actual repayment amounts may vary based on lender terms, fees, taxes and other applicable charges.
Financial Knowledge
How Equated Monthly Installments (EMI) Work
Understanding the components that determine your monthly loan repayment amounts.
The Standard EMI Formula
Lenders calculate EMIs using the standard mathematical formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]
P (Principal Amount): The total loan amount borrowed from the bank.
R (Monthly Interest Rate): Annual interest rate divided by 12 months divided by 100.
N (Tenure in Months): Total repayment period in years multiplied by 12.