Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
page
Emi Calculator

EMI Calculator

Loans & Repayments

EMI Calculator

Work out your monthly installment, see the full amortization schedule, model prepayments, and compare loan offers side by side.

Name & Address on Exports? ?When enabled, the borrower name, address, and loan name/type you enter below will be printed on the PDF, Excel, PNG, and text exports.
Interest Method ?Reducing Balance charges interest only on the outstanding principal each period (standard for most bank loans). Flat Rate charges interest on the full original principal for the whole tenure (common for some auto/personal loans) — usually costs more even at the same quoted rate.
EMI Timing ?"End of Month" (arrears) is the standard — your first installment is due one month after disbursement. "Start of Month" (advance) means your first installment is due immediately at disbursement, which slightly lowers the EMI.

Fees & Insurance (optional)

Estimates only — not financial advice. Confirm exact figures with your lender's amortization statement.

Try an example:

Monthly EMI $0.00

Estimate only, not financial advice.

EMI stands for Equated Monthly Installment — the fixed monthly payment you make on a loan that combines both principal and interest. This EMI calculator works out that payment for any loan, builds the full month-by-month amortization schedule, lets you model extra prepayments, and can compare multiple loan offers side by side.

How to use this EMI calculator

  1. Choose Single Loan or Compare Loans mode from the top of the calculator.
  2. Enter the loan amount, annual interest rate, and loan term.
  3. Switch to the Prepayments tab to model extra payments, or the Schedule tab to see the full breakdown.
  4. Export your result as PDF, Excel, or PNG if needed.

The EMI formula

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

Here P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly installments. This formula keeps the payment amount fixed every month, even though the split between principal and interest shifts — early payments are interest-heavy, later ones are mostly principal.

Why prepayments reduce your total interest

Any extra amount paid toward the principal reduces the balance that future interest is calculated on, which shortens the loan term, the total interest paid, or both. Because interest accrues on the outstanding balance each period, prepaying early in the loan term — when the balance and interest portion are highest — has a bigger impact than the same extra payment made later.

Frequently asked questions

Does the EMI amount change every month?

No — the EMI itself stays fixed for the life of the loan (assuming a fixed interest rate). What changes month to month is the split: more of each payment goes to interest early on and more to principal later, as the outstanding balance shrinks.

How much can prepaying actually save me?

It depends on how early you prepay and how much. Use the Prepayments tab to enter a one-time or recurring extra payment and see the updated schedule — the interest savings are usually largest when prepayments happen early in the loan term.

Can I compare two different loan offers here?

Yes — switch to Compare Loans mode to enter two sets of loan terms side by side and see which one results in a lower EMI or less total interest paid.