{"success":true,"version":"v1","request":{"tool":"get_calculator_schema","calculator_id":"emi"},"result":{"entity_type":"calculator","id":"emi","calculator_id":"emi","canonical_url":"https://tttkmbb.com/finance/emi","name":"EMI Calculator","title":"EMI Calculator – Equated Monthly Instalment, Total Interest and Total Payment","category":"finance","category_name":"Finance","tool_name":"calculate_emi","featured_mcp_tool":false,"description":"Computes the equated monthly instalment (EMI) of a home, car or personal loan from the loan amount, annual interest rate and tenure in months, with the total interest and total amount payable; identical to the standard amortizing-loan payment formula.","use_when":"You want the EMI for a loan quoted with an annual rate and a tenure in months, as is customary in India and other markets that use the EMI term.","do_not_use_when":"You need the year-by-year breakdown (use amortization-schedule), or a flat-rate loan where interest is charged on the original principal for the whole term (multiply principal × flat rate × years instead).","inputs":[{"name":"loan_amount","label":"Loan amount","type":"number","required":true,"max":1000000000000,"exclusive_min":0,"description":"Principal borrowed.","example":1000000},{"name":"annual_rate_percent","label":"Annual interest rate","type":"number","unit":"%","required":true,"min":0,"max":100,"description":"Reducing-balance annual rate in percent; the monthly rate is this / 12.","example":8.5},{"name":"tenure_months","label":"Tenure","type":"integer","unit":"months","required":true,"min":1,"max":480,"description":"Loan tenure in months (20 years = 240).","example":240}],"outputs":[{"name":"emi","label":"EMI","type":"number","decimals":2,"description":"Equated monthly instalment."},{"name":"total_interest","label":"Total interest","type":"number","decimals":2,"description":"emi × tenure_months − loan_amount."},{"name":"total_payment","label":"Total payment","type":"number","decimals":2,"description":"emi × tenure_months."},{"name":"interest_share_of_total_percent","label":"Interest share of total","type":"number","unit":"%","decimals":2,"description":"total_interest / total_payment × 100."}],"input_schema":{"type":"object","properties":{"loan_amount":{"description":"Principal borrowed.","type":"number","maximum":1000000000000,"exclusiveMinimum":0,"examples":[1000000]},"annual_rate_percent":{"description":"Reducing-balance annual rate in percent; the monthly rate is this / 12. Unit: %.","type":"number","minimum":0,"maximum":100,"examples":[8.5],"x-unit":"%"},"tenure_months":{"description":"Loan tenure in months (20 years = 240). Unit: months.","type":"integer","minimum":1,"maximum":480,"examples":[240],"x-unit":"months"}},"additionalProperties":false,"required":["loan_amount","annual_rate_percent","tenure_months"]},"output_schema":{"type":"object","properties":{"emi":{"description":"Equated monthly instalment.","type":"number"},"total_interest":{"description":"emi × tenure_months − loan_amount.","type":"number"},"total_payment":{"description":"emi × tenure_months.","type":"number"},"interest_share_of_total_percent":{"description":"total_interest / total_payment × 100. Unit: %.","type":"number","x-unit":"%"}}},"formula":"r = annual_rate_percent / 1200; n = tenure_months; EMI = loan_amount × r × (1 + r)^n / ((1 + r)^n − 1); loan_amount / n when r = 0","method":"Reducing-balance (diminishing) interest with payments at the end of each month, the formula used by Indian banks and identical to the annuity payment in loan-payment. Processing fees and prepayment charges are not included.","sources":[{"name":"Investopedia – Equated Monthly Installment (EMI): Definition and Formula","url":"https://www.investopedia.com/terms/e/equated_monthly_installment.asp","type":"reference","retrieved_at":"2026-09-24"},{"name":"Wikipedia – Equated monthly installment","url":"https://en.wikipedia.org/wiki/Equated_monthly_installment","type":"reference","retrieved_at":"2026-09-24"},{"name":"Wikipedia – Amortization calculator (annuity payment formula)","url":"https://en.wikipedia.org/wiki/Amortization_calculator","type":"reference","retrieved_at":"2026-09-24"}],"freshness":{"type":"static","max_age_seconds":null,"note":"Deterministic formula with fixed constants; results never go stale. Inputs supplied by the caller determine the output."},"examples":[{"name":"10,00,000 at 8.5 % for 240 months","inputs":{"loan_amount":1000000,"annual_rate_percent":8.5,"tenure_months":240},"expected":{"emi":8678.23,"total_interest":1082775.76,"total_payment":2082775.76,"interest_share_of_total_percent":51.99},"url":"https://tttkmbb.com/api/v1/calculate/emi?loan_amount=1000000&annual_rate_percent=8.5&tenure_months=240"},{"name":"5,00,000 at 10 % for 60 months","inputs":{"loan_amount":500000,"annual_rate_percent":10,"tenure_months":60},"expected":{"emi":10623.52,"total_interest":137411.34,"total_payment":637411.34},"url":"https://tttkmbb.com/api/v1/calculate/emi?loan_amount=500000&annual_rate_percent=10&tenure_months=60"}],"faq":[{"q":"Is EMI the same as a loan payment?","a":"Yes. EMI is the Indian-English term for the level monthly payment of an amortizing loan; loan-payment gives the same number for the same inputs (with the term in years and/or months)."},{"q":"What is the difference between a reducing-balance and a flat rate?","a":"A flat rate charges interest on the full original principal every year, so a 10 % flat rate costs roughly the same as an 18 % reducing-balance rate over 5 years. Enter the reducing-balance rate here."}],"tags":["emi calculator","equated monthly instalment","home loan emi","car loan emi","personal loan emi","loan tenure"],"related":[{"calculator_id":"loan-payment","reason":"Same formula with the term in years or months."},{"calculator_id":"amortization-schedule","reason":"Year-by-year principal and interest split."},{"calculator_id":"debt-payoff","reason":"Payoff time for a chosen payment."}],"links":{"html":"https://tttkmbb.com/finance/emi","markdown":"https://tttkmbb.com/finance/emi.md","json":"https://tttkmbb.com/finance/emi.json","api":"https://tttkmbb.com/api/v1/calculate/emi","schema":"https://tttkmbb.com/api/v1/calculators/emi","openapi":"https://tttkmbb.com/openapi.json","mcp":"https://tttkmbb.com/mcp"},"version":"v1","updated_at":"2026-09-24"},"timestamp":"2026-09-24T01:58:30Z","next_actions":[{"tool":"run_calculator","calculator_id":"emi","reason":"Run EMI Calculator with the inputs above."}],"links":{"markdown":"https://tttkmbb.com/finance/emi.md"}}