UNIVERSAL CREDIT AMORTIZATION ENGINE
Universal Loan EMI Calculator
Compute your exact equated monthly installment (EMI), total interest outflow, and principal payoff schedule across Indian banking products.
₹
₹50K₹1 Crore₹2 Crore
%
4% (Govt Subsidy)8.5% (Home/Auto)24% (NBFC/Unsecured)
Years
1 Yr15 Yrs30 Yrs
Monthly Payment (EMI)
₹21,696
Payable every calendar monthPrincipal Amount:₹25,00,000
Total Interest Payable:₹27,06,948
Total Outflow:₹52,06,948
Principal: 48%Interest: 52%
Standard Reducing Balance Amortization Formula
Eligo computes monthly installments using the standard mathematical formula prescribed by the Reserve Bank of India:
EMI = [P × r × (1 + r)n] / [(1 + r)n - 1]
Where P is the principal loan quantum, r is the monthly interest rate (Annual Rate / 12 / 100), and n is the repayment tenure in months. In reducing balance loans, earlier payments contain higher interest portions, while later payments pay down principal exponentially faster.