How is EMI calculated?

The calculator uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is the monthly rate, and n is the number of months. A lender's figure can differ because of disbursal dates, rounding, fees, rate conventions, or other contract terms.

Should I pick a longer tenure for a lower EMI?

A longer tenure usually lowers the scheduled monthly payment but increases total modeled interest when the principal and rate stay the same. Compare several terms against your full budget, emergency reserves, other obligations, and the lender's actual offer rather than choosing from the EMI alone.

Why does so little principal reduce in the early years?

Interest is charged on the outstanding balance, which is largest at the start, so early EMIs are mostly interest. The amortization table shows the crossover for your exact loan — and explains why early prepayments save disproportionately.

How does the extra-payment simulation work?

The loan is simulated month by month twice: once with the scheduled EMI and once with the extra amount applied directly to principal every month. The difference in modeled interest and payoff months is reported, but real savings depend on the lender's allocation rules and any prepayment restrictions or charges.

Does it work for 0% or no-cost EMI offers?

Yes — at 0% the EMI is simply principal ÷ months. Note that retail no-cost-EMI offers usually recover interest via forgone discounts or processing fees, so compare the total payable, not the EMI.

Is the EMI fixed for the whole tenure?

This calculator holds the entered rate and payment formula constant for the scenario. A real fixed-rate contract can still contain fees or special terms, while a floating or adjustable rate can change the payment, tenure, or both. Re-run the estimate when official loan terms change.

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Finance

EMI Calculator

Estimate fixed-rate loan EMI, total interest, and yearly amortization, then compare the modeled effect of a recurring principal prepayment.

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Content last reviewed August 2026

Currency

Loan amount

₹

Annual interest rate

Tenure

yrs

Extra payment / month (optional)

₹

How it works

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly rate (annual ÷ 12 ÷ 100), and n the number of months. A 0% rate falls back to simple principal ÷ months.

Amortization schedule

Year-by-year principal, interest, and remaining balance
Year	Principal	Interest	Balance
2026	₹19,902	₹84,236	₹9,80,098
2027	₹21,661	₹82,477	₹9,58,436
2028	₹23,576	₹80,563	₹9,34,860
2029	₹25,660	₹78,479	₹9,09,200
2030	₹27,928	₹76,211	₹8,81,272
2031	₹30,397	₹73,742	₹8,50,875
2032	₹33,084	₹71,055	₹8,17,791
2033	₹36,008	₹68,131	₹7,81,784
2034	₹39,191	₹64,948	₹7,42,593
2035	₹42,655	₹61,484	₹6,99,938
2036	₹46,425	₹57,714	₹6,53,513
2037	₹50,529	₹53,610	₹6,02,985
2038	₹54,995	₹49,144	₹5,47,990
2039	₹59,856	₹44,283	₹4,88,134
2040	₹65,147	₹38,992	₹4,22,987
2041	₹70,905	₹33,234	₹3,52,082
2042	₹77,172	₹26,966	₹2,74,910
2043	₹83,994	₹20,145	₹1,90,916
2044	₹91,418	₹12,721	₹99,498
2045	₹99,498	₹4,640	₹0

Overview

Estimate a fixed-rate EMI and see what recurring prepayments change

Enter principal, annual interest rate, and tenure to calculate a level monthly payment using the standard reducing-balance formula. An optional extra monthly principal amount runs a second month-by-month schedule, making the estimated interest and time difference visible without implying that a lender will accept or apply the payment in the same way.

Three cost totals

Monthly EMI, total interest, and total repayment update from the current loan assumptions.

Yearly amortization

Each row separates principal, interest, and remaining balance for the active scenario.

Prepayment comparison

A second simulation estimates interest and months saved when the extra amount is applied to principal every month.

Portable summary

Copy the inputs and headline estimate with a planning disclaimer, or reset the calculator.

How it works

Using EMI Calculator, start to finish

Three steps, in the order the tool above actually takes them.

1
Enter quoted loan terms
Use the amount actually financed, the quoted annual rate, and the expected duration rather than an advertised purchase price.
2
Compare a prepayment
Add a realistic recurring principal payment and inspect the revised schedule, interest, and payoff time.
3
Reconcile with the lender
Confirm fees, rate resets, day-count rules, prepayment treatment, penalties, and the official repayment schedule.

Use cases

What people bring here

The jobs this page is usually opened for, and the setting that makes each one quick.

Monthly budget check

Test whether principal and interest fit a planned monthly cash-flow limit.

Keep insurance, taxes, fees, and other obligations outside the EMI visible in the same budget.

Tenure comparison

Run shorter and longer terms at the same principal and rate to compare payment relief with total interest.

A lower monthly amount can still mean a materially higher lifetime cost.

Recurring prepayment plan

Model a fixed extra amount paid with every scheduled instalment.

Ask the lender how extra money is allocated and whether the loan has restrictions or charges.

A formula is not a loan quotation

The estimate is strongest when its assumptions match the contract

A level-payment formula cannot see disbursal timing, processing fees, floating-rate changes, payment holidays, lender rounding, insurance, or a prepayment policy. Use it to compare controlled scenarios, then reconcile the chosen scenario with official documents.

Result	Unsafe conclusion	Responsible interpretation
Monthly EMI	This is the exact amount the lender will collect.	It is principal and interest under the entered fixed-rate assumptions.
Total interest	Fees and changing rates are already included.	It covers simulated interest only; add contractual costs separately.
Prepayment saving	Every lender will produce this saving automatically.	It assumes each extra payment reaches principal immediately without a penalty.
Amortization year	The calendar dates match the lender statement.	The compact EMI tool groups simulated months by the current calendar year.

Monthly EMI

This is the exact amount the lender will collect.

It is principal and interest under the entered fixed-rate assumptions.

Total interest

Fees and changing rates are already included.

It covers simulated interest only; add contractual costs separately.

Prepayment saving

Every lender will produce this saving automatically.

It assumes each extra payment reaches principal immediately without a penalty.

Amortization year

The calendar dates match the lender statement.

The compact EMI tool groups simulated months by the current calendar year.

Privacy

Where your work is processed

Loan amount, rate, tenure, extra payment, currency, and calculated schedule stay in component memory in this browser tab. Copying a summary writes the displayed estimate to your clipboard only after you select Copy summary; nothing is autosaved or sent to a lender.

Calculator inputs stay on this device

The arithmetic runs in the browser and does not connect to a bank, lender, fund, tax account, marketplace, payroll system, or credit bureau. Copy and download actions occur only after you choose them.

Local saving is limited and explicit

Most Finance tools keep values only in the open tab. Profit scenarios are saved to localStorage only when you select Save, while the Invoice Generator autosaves its draft, business profile, invoice number, and embedded logo in localStorage.

Outputs are planning aids

Results follow the entered assumptions and published formulas. They are not quotes, forecasts, filings, affordability decisions, accounting records, or financial, tax, legal, lending, or investment advice.

One aggregate page view may be counted

The page shell can send the tool slug, never calculator inputs, invoice fields, saved products, or results. The endpoint is rate-limited with a transient requesting address and is skipped for Do Not Track or Global Privacy Control.

More detail in how processing works and our privacy policy.

Limits

Model inputs and boundaries

The values this tool actually enforces, not a rounded-up version.

Rate model: Fixed nominal APR; Converted to a monthly rate; no future reset path is modeled.
Tenure: 0.5 to 40 years; The calculation rounds years into monthly payments.
Prepayment: Monthly principal; No one-time payment, fee, penalty, or lender rule is included.
Schedule: Yearly rows; Generated locally from a month-by-month simulation.

No approval check, floating-rate forecast, fee schedule, prepayment-policy check, or lender quote

The calculator models a fixed-rate, monthly-rest loan: floating-rate resets, processing fees, insurance bundles, moratoriums, and irregular prepayments are outside the model (the extra payment is a constant monthly amount). The schedule anchors years to the current calendar year for readability. As the built-in disclaimer says, results are informational estimates — the sanctioned terms and the lender's statement govern the real loan.

FAQ

EMI calculation questions

The ones that actually come up.

Guides

Reading that goes deeper

How to calculate EMI on any loanThe EMI formula explained in plain terms, a worked example, and what actually happens to your money over the life of a loan.Read The Power of Compounding: How Small, Regular Investments Build Real WealthCompounding is the quiet force behind wealth built slowly. Here's how it really works, why starting early beats investing more, and how to run your own SIP numbers.Read