EMI Calculator
Calculate loan EMI with amortization schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| Year 1 | $1,990.23 | $8,423.65 | $98,009.77 |
| Year 2 | $2,166.15 | $8,247.73 | $95,843.62 |
| Year 3 | $2,357.62 | $8,056.26 | $93,486.01 |
| Year 4 | $2,566.01 | $7,847.87 | $90,920 |
| Year 5 | $2,792.82 | $7,621.06 | $88,127.18 |
| Year 6 | $3,039.68 | $7,374.2 | $85,087.5 |
| Year 7 | $3,308.36 | $7,105.52 | $81,779.15 |
| Year 8 | $3,600.79 | $6,813.09 | $78,178.36 |
| Year 9 | $3,919.06 | $6,494.82 | $74,259.3 |
| Year 10 | $4,265.47 | $6,148.41 | $69,993.82 |
| Year 11 | $4,642.5 | $5,771.38 | $65,351.32 |
| Year 12 | $5,052.86 | $5,361.02 | $60,298.46 |
| Year 13 | $5,499.48 | $4,914.39 | $54,798.98 |
| Year 14 | $5,985.59 | $4,428.29 | $48,813.39 |
| Year 15 | $6,514.66 | $3,899.22 | $42,298.73 |
| Year 16 | $7,090.5 | $3,323.38 | $35,208.23 |
| Year 17 | $7,717.23 | $2,696.65 | $27,491 |
| Year 18 | $8,399.37 | $2,014.51 | $19,091.64 |
| Year 19 | $9,141.79 | $1,272.09 | $9,949.84 |
| Year 20 | $9,949.84 | $464.03 | $0 |
How to Use EMI Calculator
- 1
Enter the loan amount, interest rate, and loan tenure in months.
- 2
The tool calculates your monthly EMI instantly.
- 3
Review the amortisation breakdown to see how much goes to interest versus principal each month.
About EMI Calculator
Calculate EMI for home loan, car loan, personal loan. See amortization schedule, total interest. Free.
Best Use Cases
- •Estimating monthly payments before applying for a home loan
- •Comparing car loan offers from different banks by adjusting rates
- •Planning a personal loan repayment by viewing the amortization schedule
- •Checking how prepayment or shorter tenure reduces total interest
- •Budgeting monthly expenses around a new loan commitment
Examples
Home loan
Enter 50,00,000 principal, 8.5% rate, 240 months. See the monthly EMI and total interest paid.
Car loan comparison
Enter the same loan amount at 9% and 10% to compare monthly EMI and total cost difference.
Prepayment impact
Reduce tenure from 240 to 180 months on the same loan to see how much interest you save.
Common Mistakes to Avoid
- !Entering the annual rate instead of verifying whether the tool expects monthly
- !Forgetting that EMI does not include insurance or processing fees
- !Not checking the amortization table for interest-heavy early months
Limitations
- –Assumes a fixed interest rate for the entire loan tenure
- –Does not account for processing fees, insurance, or prepayment penalties
- –Cannot fetch live interest rates from banks
Disclaimer
This tool is for informational and educational purposes only. Results are estimates and should not be treated as financial, tax, legal, or investment advice. Always consult a qualified professional before making financial decisions.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly payment you make on a loan. It covers both principal and interest.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P = loan amount, r = monthly rate, n = months.
Can I reduce my EMI?
Yes, by increasing down payment, choosing a longer tenure, or getting a lower interest rate. Our calculator helps you compare.