How this EMI calculator works
This EMI calculator estimates your monthly installment by using the principal amount, annual interest rate, loan tenure, processing fee and GST. It supports both flat interest and reducing balance methods, so you can compare how repayment changes under each structure.
Flat interest keeps the monthly interest fixed on the original principal. Reducing balance interest recalculates interest every month on the outstanding balance, which is the standard method used by many banks and lenders for longer tenure loans.