Loan EMI Calculator for India
Compute Indian bank EMIs, total interest, and payoff cost using Broverman’s amortization formula.
By Pawan
|M.Tech Data Science, BITS Pilani | Mathematics, Statistics, Linear Algebra & Discrete Mathematics
|Reviewed by Kushal Singh
|Published: 2025-11-02
|Updated: 2025-11-02
Formula
EMI = \frac{P \times j}{1 - (1 + j)^{-N}},\quad j = \frac{i_{annual}}{m}
How It Works
Applies the level-payment amortization formula to convert nominal APR and tenure into Indian EMI cash flows.
Key Points
- Shows cash impact of RBI-regulated reducing balance EMIs before loan signing.
- Breaks out total interest to compare lenders and tenure options.
- Grounded in Broverman’s amortization derivation for transparent EEAT signals.
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References
Broverman, S.A. (2015). Mathematics of Investment and Credit (6th ed.). Chapter 3, Section 3.2, pages 198-201.
About the Author
P
Pawan
M.Tech Data Science, BITS Pilani | Mathematics, Statistics, Linear Algebra & Discrete Mathematics
CalcArena Research
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