Everyday tool
Loan and EMI Calculator
Work out your monthly EMI, total interest and repayment schedule, then see how extra payments cut interest and tenure. Includes a balance chart and CSV.
Free, no sign-up. Runs in your browser; nothing is uploaded.
Loan details
Prepayment (optional)
Added on top of the EMI to shorten the loan.
Summary
Balance over time
Amortisation schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹44,023 | ₹2,35,616 | ₹24,55,977 |
| 2 | ₹48,393 | ₹2,31,247 | ₹24,07,584 |
| 3 | ₹53,196 | ₹2,26,444 | ₹23,54,388 |
| 4 | ₹58,475 | ₹2,21,164 | ₹22,95,913 |
| 5 | ₹64,279 | ₹2,15,361 | ₹22,31,635 |
| 6 | ₹70,658 | ₹2,08,981 | ₹21,60,977 |
| 7 | ₹77,671 | ₹2,01,969 | ₹20,83,306 |
| 8 | ₹85,379 | ₹1,94,260 | ₹19,97,926 |
| 9 | ₹93,853 | ₹1,85,786 | ₹19,04,073 |
| 10 | ₹1,03,168 | ₹1,76,472 | ₹18,00,906 |
| 11 | ₹1,13,407 | ₹1,66,232 | ₹16,87,499 |
| 12 | ₹1,24,662 | ₹1,54,977 | ₹15,62,837 |
| 13 | ₹1,37,035 | ₹1,42,605 | ₹14,25,802 |
| 14 | ₹1,50,635 | ₹1,29,004 | ₹12,75,167 |
| 15 | ₹1,65,585 | ₹1,14,054 | ₹11,09,582 |
| 16 | ₹1,82,019 | ₹97,620 | ₹9,27,562 |
| 17 | ₹2,00,084 | ₹79,555 | ₹7,27,478 |
| 18 | ₹2,19,942 | ₹59,697 | ₹5,07,536 |
| 19 | ₹2,41,771 | ₹37,869 | ₹2,65,766 |
| 20 | ₹2,65,766 | ₹13,874 | ₹0 |
Estimates assume a fixed rate, equal monthly instalments and interest charged on the reducing balance. Actual lender figures can differ slightly because of fees, rounding and date-based interest.
How to use the loan and emi calculator
Understand what a loan really costs
The monthly payment is only part of the story. This calculator shows the EMI, the total interest you will pay, how fast your balance falls and what happens if you pay extra.
Enter the loan
- Type the loan amount and the annual interest rate quoted by the lender.
- Set the tenure in years or months.
- Choose your currency for correct number formatting. Results update as you type.
Read the results
- Monthly EMI is the fixed instalment.
- Total interest and total payment show the full cost. The coloured bar splits every payment into principal and interest.
- Time to repay is the length of the loan, adjusted if you add prepayments.
Try a prepayment
Add an extra monthly amount, a one-time lump sum in a chosen month, or both. The result panel shows the interest saved and how much sooner the loan ends. The chart draws a dashed line for the original balance and a solid line for the new one, so the effect is easy to see. Even a modest regular top-up can remove years from a long loan.
Study the schedule
The table starts with a yearly view of principal repaid, interest paid and closing balance. Switch to monthly for every instalment, and download a CSV to open in a spreadsheet.
Using the numbers wisely
- Compare lenders by total interest, not only the EMI. A longer tenure lowers the EMI but raises total interest.
- Ask whether your loan has prepayment charges, particularly on fixed-rate products.
- Floating-rate loans change over time, so re-run the calculator when your rate changes.
- Keep your EMI comfortably within your monthly budget.
Figures are estimates and are not a loan offer or financial advice.
Frequently asked questions
What formula does the EMI calculator use?
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly rate (annual rate divided by 12 and by 100) and n is the number of months. A zero-interest loan is simply the amount divided by the months.
How does prepayment save money?
Every extra payment goes straight to the principal, so the balance that interest is charged on falls sooner. This tool keeps your EMI the same and shortens the tenure, then shows the interest you save and the months you cut.
Why do early EMIs have more interest?
Interest is charged on the outstanding balance, which is highest at the start. Each month the interest share shrinks and the principal share grows, which you can see in the yearly table.
Will my bank show exactly the same numbers?
Often close, but not identical. Banks may charge processing fees, use daily balances, round differently or have a floating rate. Treat this as a planning estimate and check your lender's loan statement.
Does it work for car, home and personal loans?
Yes. Any fixed-rate loan repaid in equal monthly instalments works. Enter the amount, annual rate and tenure in years or months and pick your currency.