EMI Calculator
Enter the loan amount, interest rate and tenure. Your EMI and repayment schedule update as you type, entirely in your browser.
Loan details
Processing fee and prepayment
After prepaying, schedule shows
- Principal
- -
- Total interest
- -
- Total payment
- -
- Processing fee
- -
- Effective rate incl. fee
- -
Prepayment comparison
| Option | EMI | Tenure | Total interest | Interest saved |
|---|
Amortisation schedule
By loan year. Select a year to see each month.
| Year | Principal | Interest | Prepaid | Balance |
|---|
How EMI is calculated
An EMI (equated monthly instalment) is the fixed amount you repay each month on a reducing-balance loan. With loan amount P, monthly interest rate r (annual rate ÷ 12 ÷ 100) and n monthly instalments:
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Each month, interest is charged on the balance still outstanding, and the rest of the EMI repays principal. Early instalments are therefore mostly interest and later ones mostly principal. At 0% interest the EMI is simply P ÷ n. Figures here are exact to the paisa or cent; banks may round each instalment, so their numbers can differ by a few units.
Prepayment: reduce tenure or reduce EMI?
A part-payment comes straight off the principal. If you keep the same EMI, the loan ends sooner (reduce tenure). If you keep the end date, the bank recalculates a lower EMI over the remaining months (reduce EMI). Reducing tenure usually saves more interest, because the remaining balance shrinks faster.
What does the processing fee change?
A fee paid upfront means you receive less than you borrow while repaying the full amount. The effective rate shown is the annual rate at which your instalments repay only the money you actually received, which makes offers with different fees comparable.
FAQ
Does the currency change the result?
No. The currency only sets the symbol and digit grouping (lakh and crore for rupees). The maths is the same for any currency.
Is my loan data stored?
No. Everything is calculated on your device with WebAssembly. Nothing is uploaded or saved, and the CSV is created locally in your browser.