How Does a Loan EMI Calculator Work?
If you take a ₹5,00,000 loan at 8% interest for 5 years (60 months), your EMI will be ₹10,138 per month.
- P = ₹5,00,000
- R = 8%
- N = 60 Months
Where
- P = Loan Amount
- R = Monthly Interest Rate (Annual Interest Rate / 12 / 100)
- N = Loan Tenure in Months
Amortization Schedule – EMI Breakdown Over Time
Here is the amortization schedule for a ₹15,00,000 loan with a ₹3,00,000 down payment (final loan amount: ₹12,00,000) at an 8.5% annual interest rate for 60 months:
- EMI: ₹24,619.84
- Total Interest Paid: ₹2,77,190.40
- Total Amount Paid (including interest): ₹14,77,190.40
| Month |
EMI (₹) |
Principal (₹) |
Interest (₹) |
Balance (₹) |
| 1 |
24,619.84 |
16,119.84 |
8,500.00 |
11,83,880.16 |
| 6 |
24,619.84 |
16,698.89 |
7,920.94 |
11,01,551.98 |
| 12 |
24,619.84 |
17,421.28 |
7,198.55 |
9,98,845.12 |
| 18 |
24,619.84 |
18,174.92 |
6,444.91 |
8,91,695.19 |
| 24 |
24,619.84 |
18,961.17 |
5,658.67 |
7,79,909.98 |
| 30 |
24,619.84 |
19,781.42 |
4,838.42 |
6,63,288.97 |
| 36 |
24,619.84 |
20,637.16 |
3,982.68 |
5,41,622.97 |
| 42 |
24,619.84 |
21,529.92 |
3,089.92 |
4,14,693.72 |
| 48 |
24,619.84 |
22,461.30 |
2,158.54 |
2,82,273.55 |
| 54 |
24,619.84 |
23,432.97 |
1,186.87 |
1,44,124.91 |
| 60 |
24,619.84 |
24,446.67 |
173.16 |
0 |
Benefits of Carbike360 EMI Calculator
- Instant Results: Get your EMI instantly after entering values.
- Adjustable Parameters: Modify the loan amount by adjusting downpayment, tenure, and interest rate to see different EMI options.
- Breakdown of Payments: See how much you pay toward principal and interest.
- User-Friendly Interface: Works on mobile and desktop devices.
