EMI CALCULATOR

Advanced EMI Calculator
for All Loan Types

Calculate EMI for 10+ loan types with flexible tenure in years/months

Advanced prepayment options to optimize your loan

Detailed amortization schedule and visual payment breakdown

Loan Details

Select loan type
Home Loan
Car Loan
Personal Loan
Education Loan
Business Loan
Gold Loan
Two Wheeler Loan
Consumer Durable Loan
Medical Loan
Agriculture Loan
Credit Card Loan
Others
₹10,00,000
8.5%
Years
Months
15 years (180 months)

Advanced Options

EMI Summary

Home Loan | 15 years | 8.5% interest

₹9,847
Loan Amount ₹10,00,000
Total Interest ₹7,72,460
Total Payment ₹17,72,460
Loan Tenure 15 years (180 months)
Interest Savings ₹0
Monthly EMI ₹9,847
EMI ₹9,847
Principal 65%
Interest 35%

Payment Schedule

Summary
Amortization
EMI Amount ₹9,847
Total Interest ₹7,72,460
Total Payment (Principal + Interest) ₹17,72,460
Prepayment Savings ₹0
Month Principal Interest Balance
Note: The data provided in the schedule is subject to change.

Loan Optimization

Understanding EMI in India

Learn how EMIs work, who can apply, and how to manage repayments efficiently.

What is EMI?

  • EMI stands for Equated Monthly Installment – a fixed payment made by a borrower to a lender every month.
  • It includes both principal repayment and interest on the loan amount.
  • Used for loans like home, personal, vehicle, and consumer durable loans.

Types of EMI Loans

  • Home Loans: For purchasing, constructing, or renovating residential property.
  • Personal Loans: For personal needs like travel, education, or emergencies.
  • Auto Loans: For purchasing two-wheelers or four-wheelers.
  • Consumer Durable Loans: For electronics, appliances, and other household items.

EMI Calculation

  • EMI depends on the loan amount, interest rate, and tenure.
  • It is calculated using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
  • Online EMI calculators help borrowers estimate monthly payments easily.

Who Can Avail EMI?

  • Individuals with a stable income – salaried or self-employed.
  • Businesses seeking funding for operational or capital needs.
  • Applicants meeting the lender’s eligibility criteria like age, credit score, and income.

Why Opt for EMI?

  • Makes high-value purchases affordable by spreading payments over time.
  • Helps manage finances without depleting savings.
  • Builds a credit history and improves credit score with timely payments.
  • Flexible repayment options with different tenures and interest rates.

Factors Affecting EMI

  • Loan Amount: Higher amounts lead to higher EMIs.
  • Interest Rate: Influences the cost of borrowing.
  • Loan Tenure: Longer tenure means lower EMI but higher interest payout.
  • Prepayment: Reduces outstanding principal and future EMIs.

EMI Repayment & Schedule

  • Repayment is done monthly through auto-debit, ECS, or post-dated cheques.
  • Loan schedules show breakup of principal and interest over the tenure.
  • Regular repayment improves credibility and financial discipline.

Manage Your EMIs Easily with TMZON

  • Use our EMI calculator to plan loans wisely before borrowing.
  • Get support in choosing the right lender and best interest rate.
  • Track EMI schedules, make prepayments, and manage finances stress-free.

Some common questions
were often asked

What is an EMI and how is it calculated?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each month. It includes both principal and interest, and is calculated using the loan amount, interest rate, and loan tenure.

Can I prepay my EMI loan before the tenure ends?

Yes, most lenders allow full or partial prepayment of your loan before the scheduled end date. However, some may charge prepayment penalties depending on the type of loan and lender policy.

What happens if I miss an EMI payment?

Missing an EMI payment can lead to late payment penalties, a drop in your credit score, and increased overall interest burden. Repeated defaults may lead to legal recovery actions by the lender.

Are EMI options available for all types of loans?

Yes, EMI options are available for most types of loans including personal loans, home loans, auto loans, education loans, and even for large-value purchases through credit cards or consumer durable loans.

How can I reduce my EMI burden?

You can reduce your EMI by opting for a longer tenure, negotiating for a lower interest rate, making part-prepayments, or transferring your loan to a lender offering better terms.

Does taking an EMI affect my credit score?

Yes, EMIs impact your credit score. Timely payments improve your score, while missed or delayed payments negatively affect it. A good EMI repayment history builds a strong credit profile.