EMI Calculator
Calculate your monthly loan EMI instantly for home loan, car loan, or personal loan. Get full amortization schedule.
Amortization Schedule
Year-by-year payment breakdown
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|---|---|---|---|
| Yr 1 | ₹66,327 | ₹82,456 | ₹1,48,783 | ₹9,33,673 |
| Yr 2 | ₹72,190 | ₹76,593 | ₹1,48,783 | ₹8,61,483 |
| Yr 3 | ₹78,571 | ₹70,212 | ₹1,48,783 | ₹7,82,912 |
| Yr 4 | ₹85,516 | ₹63,267 | ₹1,48,783 | ₹6,97,396 |
| Yr 5 | ₹93,075 | ₹55,708 | ₹1,48,783 | ₹6,04,321 |
| Yr 6 | ₹1,01,302 | ₹47,481 | ₹1,48,783 | ₹5,03,019 |
| Yr 7 | ₹1,10,256 | ₹38,527 | ₹1,48,783 | ₹3,92,763 |
| Yr 8 | ₹1,20,002 | ₹28,781 | ₹1,48,783 | ₹2,72,762 |
| Yr 9 | ₹1,30,609 | ₹18,174 | ₹1,48,783 | ₹1,42,153 |
| Yr 10 | ₹1,42,153 | ₹6,630 | ₹1,48,783 | ₹0 |
About the EMI Calculator
Before committing to a home loan, car loan, or personal loan, understanding your monthly repayment obligation is essential for budgeting. The EMI Calculator computes your Equated Monthly Installment using the standard reducing-balance formula, and also breaks down the total interest payable and generates a full amortization schedule showing how each payment is split between principal and interest.
Loan terms, interest rates, and repayment periods all interact in ways that are not immediately obvious. This tool lets you experiment with different combinations — increase the down payment, shorten the tenure, or compare two interest rate offers — and see the impact on your monthly EMI and total cost instantly, helping you negotiate and plan with confidence.
How to use the EMI Calculator
- Enter the principal loan amount you intend to borrow.
- Enter the annual interest rate quoted by your lender.
- Enter the loan tenure in months or years using the provided toggle.
- Click 'Calculate EMI' to see your monthly payment, total interest payable, and total repayment amount.
- Scroll down to view the full amortization schedule showing the principal and interest breakdown for every payment period.
- Adjust any input to instantly compare different loan scenarios without resetting the form.
Key features
- Standard reducing-balance EMI formula matching calculations used by banks and lenders.
- Displays monthly EMI, total interest payable, and total repayment amount clearly.
- Full month-by-month amortization table showing principal and interest split per period.
- Supports both monthly and yearly tenure input for flexibility.
- Interactive inputs allow instant scenario comparison by tweaking rate, tenure, or amount.
- Visual pie chart or bar breakdown showing proportion of principal versus interest in the total cost.
Frequently asked questions
What formula does the EMI calculator use?
The calculator uses the standard reducing-balance EMI formula: EMI equals P multiplied by R multiplied by (1 plus R) to the power N, divided by ((1 plus R) to the power N minus 1), where P is the principal, R is the monthly interest rate (annual rate divided by 12 divided by 100), and N is the number of monthly installments.
What is an amortization schedule?
An amortization schedule is a table that breaks down every loan payment over the life of the loan. Each row shows the EMI for that month, how much of it goes toward reducing the principal, and how much goes toward interest. In early periods most of the EMI covers interest; in later periods more goes toward principal.
How does a shorter loan tenure affect my EMI and total interest?
A shorter tenure increases your monthly EMI but significantly reduces the total interest paid over the life of the loan because the principal is repaid faster. A longer tenure lowers the monthly burden but results in paying considerably more interest overall. Use the calculator to find the balance that fits your budget.
Does the calculator account for processing fees or prepayment charges?
The tool calculates the base EMI on the principal amount at the stated interest rate. It does not factor in processing fees, insurance premiums, GST, or prepayment penalties, which vary by lender. Add those costs separately when comparing the true total cost of a loan.
Can I use this for home loans with a floating interest rate?
This calculator assumes a fixed interest rate for the entire tenure, which gives you a stable EMI figure. For floating-rate loans, the EMI can change periodically. You can re-run the calculation whenever your rate is revised to see your new EMI for the remaining balance and tenure.
All loan calculations are performed entirely in your browser; no financial data you enter is transmitted to or retained on any server.