$
$
%
months
Monthly EMI
–
Total interest
–
Total repayment
–
What formula does this use?
The standard reducing-balance EMI formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal after down payment, r is the monthly rate, and n is the number of months.
Does a bigger down payment really help?
Yes — it shrinks the principal the interest rate is applied to for the entire term, which lowers both the EMI and the total interest paid.
How it works
This uses the standard reducing-balance EMI formula banks use themselves, so the number you see here should match any offer within a few cents.