Money & Finance
EMI calculator
Enter the loan amount, interest rate and tenure. See the EMI, the interest you will pay, and what a part-payment would save. The schedule downloads as a CSV.
- Free, no sign-up
- Runs in your browser
- Nothing uploaded
Loan
Only changes the symbol and number format. No exchange rates are used.
The amount you borrow.
The annual rate your lender quotes, reducing balance.
Tenure in
Only used to label the CSV.
Part-payments (optional)
Paid on top of the EMI each month.
Month 1 is your first EMI.
Result
Year-by-year schedule
How it works
The EMI is the fixed monthly payment that clears the loan, interest included, by the last month. It uses the standard reducing-balance formula.
EMI = P x r x (1 + r)n / ((1 + r)n - 1)
P = loan amount, r = annual rate / 12 / 100, n = number of months
Each month the interest is the outstanding balance times r. The rest of the EMI reduces the balance, so early EMIs are mostly interest and later ones mostly principal. A part-payment goes straight to the balance, so every later month charges less interest and the loan ends sooner.
Frequently asked questions
Is the EMI the same for a floating-rate loan?
Only until the rate changes. For a floating-rate loan, recalculate with the new rate and the balance still due.
Does a part-payment lower the EMI or the tenure?
This calculator keeps the EMI and shortens the tenure, which saves the most interest. Some lenders let you pick lower-EMI instead; ask yours.
Why does my bank show a slightly different EMI?
Banks round the EMI to a whole rupee and may add fees or insurance. The difference is usually small.
Is anything sent anywhere?
No. The figures are calculated in your browser and nothing is stored.