EMI Calculator

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months.

Not yet — the schedule assumes every instalment is paid exactly on time with no part-prepayment.

Usually one of three things: processing and documentation fees added to the principal, an insurance premium bundled into the loan, or a rate that differs from the advertised one once your profile is assessed. The formula itself is standard, so a gap almost always means the inputs are not the ones the bank is using.

On a floating-rate loan most lenders hold the EMI steady and extend the term instead, which is why a rate rise can quietly add years without changing anything you notice each month. Ask explicitly which one your lender adjusts, and check the outstanding term after any rate change.