0
Monthly EMI
0
Total interest
0
Total payment
0
Payments
Principal vs interest
Year by year: principal vs interest
Green is principal, amber is interest. Early years are mostly interest.
Yearly schedule
| Year | Principal | Interest | Balance |
|---|
Uses the standard reducing-balance EMI formula. Actual lender figures may differ slightly due to fees and rounding.
Frequently asked questions
What is an EMI?
EMI stands for Equated Monthly Installment: the fixed amount you pay your lender every month until the loan is repaid. It covers part of the principal plus that month's interest.
Does it work for zero-interest loans?
Yes. Set the annual interest rate to 0 and the tool divides the loan amount evenly across the months. This is the correct math for zero-interest loans.
Which formula is used?
The standard reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n is the number of months. Actual lender figures may differ slightly due to fees and rounding.
Preview
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