Schmeichel has helped Leicester into second place this season and he says that, although he has Premier League ambitions, starting games in the Championship is more important.
"For me personally, the playing time is the most important," he told Danish media.
He added: "Even if that means playing in a lower division, I've got to do it."
Schmeichel is set to make his international debut for Denmark when they take on Macedonia in Skopje on Wednesday night.
He was expected to make his debut in the game against Turkey back in November, but he was forced to withdraw from the squad due to injury.