EMI Calculator

EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is monthly interest rate, and n is number of monthly instalments.

The monthly EMI is approximately ₹43,391. Total payable is around ₹1.04 Cr, of which ₹54 lakh is interest.

You can reduce EMI by increasing the tenure, making a higher down payment, negotiating a lower interest rate, or making prepayments.

For fixed-rate loans, the EMI stays constant. For floating-rate loans, the EMI may change when the base rate changes.

An amortization schedule shows the year-wise breakdown of how each payment is split between principal repayment and interest.