EMI Calculator

EMI stands for Equated Monthly Instalment — a fixed payment made every month that covers both the interest accrued on the outstanding balance and a portion of the principal. Early in the loan, most of the EMI goes toward interest; over time, more of each payment chips away at the principal.

This is called the reducing balance method. Unlike flat-rate interest (which is charged on the original principal throughout), reducing balance means your interest cost decreases each month as the principal reduces — it is the standard method used by most banks.

The amortisation schedule shows you exactly how each payment is split, month by month, so you can see your outstanding balance at any point in the loan tenure.