About This Tool
The Zaberz Loan EMI Calculator computes your monthly installment, total interest payable, and total repayment amount using the standard reducing-balance formula. It also generates a year-by-year amortization schedule so you can see exactly how much of each payment goes toward principal versus interest over the life of the loan.
How to Use
- 1 Enter the loan amount and annual interest rate.
- 2 Enter the loan tenure in years or months.
- 3 Click Calculate to see your EMI, total interest, and amortization schedule.
Frequently Asked Questions
EMI stands for Equated Monthly Installment, a fixed payment made every month toward repaying a loan, covering both principal and interest.
EMI is calculated using the formula P × r × (1+r)n / ((1+r)n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments.
An amortization schedule breaks down each payment over the loan term, showing how much goes toward principal versus interest and the remaining balance over time.