EMI Calculator

Calculate EMI (Equated Monthly Installment) for a fixed rate loan spanned across years with annual and monthly amortization tables.
You can calculate principal and interest components for financial years which are useful for tax calculations.


Loan Parameters
Loan Amount :
$
Interest rate :
%
Loan term :
years
EMI Start Date :
Financial Year :
Repayment Details

Loan Amount = $ 10,00,000

EMI = $ 9,650

Total Interest = $ 13,16,052

Total Payments = $ 23,16,052

Periods = 240 months

Last EMI Date = 23-February-2037

Repayment Chart
Payment Distribution Graph
Amortization Table
Year Total Payment Interest Principal Balance
  1 $ 1,15,803 $ 99,255 $ 16,547 $ 9,83,453
March-2017 9,650 8,333 1,317 9,98,683
April-2017 9,650 8,322 1,328 9,97,355
May-2017 9,650 8,311 1,339 9,96,016
June-2017 9,650 8,300 1,350 9,94,666
July-2017 9,650 8,289 1,361 9,93,305
August-2017 9,650 8,278 1,373 9,91,932
September-2017 9,650 8,266 1,384 9,90,548
October-2017 9,650 8,255 1,396 9,89,152
November-2017 9,650 8,243 1,407 9,87,745
December-2017 9,650 8,231 1,419 9,86,326
January-2018 9,650 8,219 1,431 9,84,895
February-2018 9,650 8,207 1,443 9,83,453
  2 $ 1,15,803 $ 97,522 $ 18,280 $ 9,65,173
March-2018 9,650 8,195 1,455 9,81,998
April-2018 9,650 8,183 1,467 9,80,531
May-2018 9,650 8,171 1,479 9,79,052
June-2018 9,650 8,159 1,491 9,77,560
July-2018 9,650 8,146 1,504 9,76,056
August-2018 9,650 8,134 1,516 9,74,540
September-2018 9,650 8,121 1,529 9,73,011
October-2018 9,650 8,108 1,542 9,71,469
November-2018 9,650 8,096 1,555 9,69,915
December-2018 9,650 8,083 1,568 9,68,347
January-2019 9,650 8,070 1,581 9,66,766
February-2019 9,650 8,056 1,594 9,65,173
  3 $ 1,15,803 $ 95,608 $ 20,194 $ 9,44,978
March-2019 9,650 8,043 1,607 9,63,565
April-2019 9,650 8,030 1,621 9,61,945
May-2019 9,650 8,016 1,634 9,60,311
June-2019 9,650 8,003 1,648 9,58,663
July-2019 9,650 7,989 1,661 9,57,002
August-2019 9,650 7,975 1,675 9,55,327
September-2019 9,650 7,961 1,689 9,53,638
October-2019 9,650 7,947 1,703 9,51,934
November-2019 9,650 7,933 1,717 9,50,217
December-2019 9,650 7,918 1,732 9,48,485
January-2020 9,650 7,904 1,746 9,46,739
February-2020 9,650 7,889 1,761 9,44,978
  4 $ 1,15,803 $ 93,494 $ 22,309 $ 9,22,669
March-2020 9,650 7,875 1,775 9,43,203
April-2020 9,650 7,860 1,790 9,41,413
May-2020 9,650 7,845 1,805 9,39,608
June-2020 9,650 7,830 1,820 9,37,787
July-2020 9,650 7,815 1,835 9,35,952
August-2020 9,650 7,800 1,851 9,34,101
September-2020 9,650 7,784 1,866 9,32,235
October-2020 9,650 7,769 1,882 9,30,354
November-2020 9,650 7,753 1,897 9,28,457
December-2020 9,650 7,737 1,913 9,26,543
January-2021 9,650 7,721 1,929 9,24,614
February-2021 9,650 7,705 1,945 9,22,669
  5 $ 1,15,803 $ 91,158 $ 24,645 $ 8,98,024
March-2021 9,650 7,689 1,961 9,20,708
April-2021 9,650 7,673 1,978 9,18,730
May-2021 9,650 7,656 1,994 9,16,736
June-2021 9,650 7,639 2,011 9,14,726
July-2021 9,650 7,623 2,028 9,12,698
August-2021 9,650 7,606 2,044 9,10,654
September-2021 9,650 7,589 2,061 9,08,592
October-2021 9,650 7,572 2,079 9,06,514
November-2021 9,650 7,554 2,096 9,04,418
December-2021 9,650 7,537 2,113 9,02,304
January-2022 9,650 7,519 2,131 9,00,173
February-2022 9,650 7,501 2,149 8,98,024
  6 $ 1,15,803 $ 88,577 $ 27,226 $ 8,70,799
March-2022 9,650 7,484 2,167 8,95,858
April-2022 9,650 7,465 2,185 8,93,673
May-2022 9,650 7,447 2,203 8,91,470
June-2022 9,650 7,429 2,221 8,89,249
July-2022 9,650 7,410 2,240 8,87,009
August-2022 9,650 7,392 2,258 8,84,750
September-2022 9,650 7,373 2,277 8,82,473
October-2022 9,650 7,354 2,296 8,80,177
November-2022 9,650 7,335 2,315 8,77,862
December-2022 9,650 7,316 2,335 8,75,527
January-2023 9,650 7,296 2,354 8,73,173
February-2023 9,650 7,276 2,374 8,70,799
  7 $ 1,15,803 $ 85,726 $ 30,076 $ 8,40,722
March-2023 9,650 7,257 2,394 8,68,405
April-2023 9,650 7,237 2,414 8,65,992
May-2023 9,650 7,217 2,434 8,63,558
June-2023 9,650 7,196 2,454 8,61,104
July-2023 9,650 7,176 2,474 8,58,630
August-2023 9,650 7,155 2,495 8,56,135
September-2023 9,650 7,134 2,516 8,53,619
October-2023 9,650 7,113 2,537 8,51,082
November-2023 9,650 7,092 2,558 8,48,525
December-2023 9,650 7,071 2,579 8,45,945
January-2024 9,650 7,050 2,601 8,43,345
February-2024 9,650 7,028 2,622 8,40,722
  8 $ 1,15,803 $ 82,577 $ 33,226 $ 8,07,497
March-2024 9,650 7,006 2,644 8,38,078
April-2024 9,650 6,984 2,666 8,35,412
May-2024 9,650 6,962 2,688 8,32,724
June-2024 9,650 6,939 2,711 8,30,013
July-2024 9,650 6,917 2,733 8,27,279
August-2024 9,650 6,894 2,756 8,24,523
September-2024 9,650 6,871 2,779 8,21,744
October-2024 9,650 6,848 2,802 8,18,941
November-2024 9,650 6,825 2,826 8,16,116
December-2024 9,650 6,801 2,849 8,13,267
January-2025 9,650 6,777 2,873 8,10,394
February-2025 9,650 6,753 2,897 8,07,497
  9 $ 1,15,803 $ 79,098 $ 36,705 $ 7,70,792
March-2025 9,650 6,729 2,921 8,04,576
April-2025 9,650 6,705 2,945 8,01,630
May-2025 9,650 6,680 2,970 7,98,660
June-2025 9,650 6,656 2,995 7,95,665
July-2025 9,650 6,631 3,020 7,92,646
August-2025 9,650 6,605 3,045 7,89,601
September-2025 9,650 6,580 3,070 7,86,531
October-2025 9,650 6,554 3,096 7,83,435
November-2025 9,650 6,529 3,122 7,80,313
December-2025 9,650 6,503 3,148 7,77,166
January-2026 9,650 6,476 3,174 7,73,992
February-2026 9,650 6,450 3,200 7,70,792
  10 $ 1,15,803 $ 75,254 $ 40,548 $ 7,30,243
March-2026 9,650 6,423 3,227 7,67,565
April-2026 9,650 6,396 3,254 7,64,311
May-2026 9,650 6,369 3,281 7,61,030
June-2026 9,650 6,342 3,308 7,57,722
July-2026 9,650 6,314 3,336 7,54,386
August-2026 9,650 6,287 3,364 7,51,022
September-2026 9,650 6,259 3,392 7,47,630
October-2026 9,650 6,230 3,420 7,44,210
November-2026 9,650 6,202 3,448 7,40,762
December-2026 9,650 6,173 3,477 7,37,285
January-2027 9,650 6,144 3,506 7,33,779
February-2027 9,650 6,115 3,535 7,30,243
  11 $ 1,15,803 $ 71,008 $ 44,794 $ 6,85,449
March-2027 9,650 6,085 3,565 7,26,678
April-2027 9,650 6,056 3,595 7,23,084
May-2027 9,650 6,026 3,625 7,19,459
June-2027 9,650 5,995 3,655 7,15,804
July-2027 9,650 5,965 3,685 7,12,119
August-2027 9,650 5,934 3,716 7,08,403
September-2027 9,650 5,903 3,747 7,04,657
October-2027 9,650 5,872 3,778 7,00,878
November-2027 9,650 5,841 3,810 6,97,069
December-2027 9,650 5,809 3,841 6,93,228
January-2028 9,650 5,777 3,873 6,89,354
February-2028 9,650 5,745 3,906 6,85,449
  12 $ 1,15,803 $ 66,318 $ 49,485 $ 6,35,964
March-2028 9,650 5,712 3,938 6,81,511
April-2028 9,650 5,679 3,971 6,77,540
May-2028 9,650 5,646 4,004 6,73,535
June-2028 9,650 5,613 4,037 6,69,498
July-2028 9,650 5,579 4,071 6,65,427
August-2028 9,650 5,545 4,105 6,61,322
September-2028 9,650 5,511 4,139 6,57,183
October-2028 9,650 5,477 4,174 6,53,009
November-2028 9,650 5,442 4,208 6,48,801
December-2028 9,650 5,407 4,244 6,44,557
January-2029 9,650 5,371 4,279 6,40,278
February-2029 9,650 5,336 4,315 6,35,964
  13 $ 1,15,803 $ 61,136 $ 54,667 $ 5,81,297
March-2029 9,650 5,300 4,351 6,31,613
April-2029 9,650 5,263 4,387 6,27,226
May-2029 9,650 5,227 4,423 6,22,803
June-2029 9,650 5,190 4,460 6,18,343
July-2029 9,650 5,153 4,497 6,13,845
August-2029 9,650 5,115 4,535 6,09,311
September-2029 9,650 5,078 4,573 6,04,738
October-2029 9,650 5,039 4,611 6,00,127
November-2029 9,650 5,001 4,649 5,95,478
December-2029 9,650 4,962 4,688 5,90,790
January-2030 9,650 4,923 4,727 5,86,063
February-2030 9,650 4,884 4,766 5,81,297
  14 $ 1,15,803 $ 55,412 $ 60,391 $ 5,20,906
March-2030 9,650 4,844 4,806 5,76,491
April-2030 9,650 4,804 4,846 5,71,645
May-2030 9,650 4,764 4,887 5,66,758
June-2030 9,650 4,723 4,927 5,61,831
July-2030 9,650 4,682 4,968 5,56,863
August-2030 9,650 4,641 5,010 5,51,853
September-2030 9,650 4,599 5,051 5,46,802
October-2030 9,650 4,557 5,094 5,41,708
November-2030 9,650 4,514 5,136 5,36,572
December-2030 9,650 4,471 5,179 5,31,393
January-2031 9,650 4,428 5,222 5,26,171
February-2031 9,650 4,385 5,265 5,20,906
  15 $ 1,15,803 $ 49,088 $ 66,715 $ 4,54,191
March-2031 9,650 4,341 5,309 5,15,596
April-2031 9,650 4,297 5,354 5,10,243
May-2031 9,650 4,252 5,398 5,04,845
June-2031 9,650 4,207 5,443 4,99,402
July-2031 9,650 4,162 5,489 4,93,913
August-2031 9,650 4,116 5,534 4,88,379
September-2031 9,650 4,070 5,580 4,82,798
October-2031 9,650 4,023 5,627 4,77,171
November-2031 9,650 3,976 5,674 4,71,498
December-2031 9,650 3,929 5,721 4,65,777
January-2032 9,650 3,881 5,769 4,60,008
February-2032 9,650 3,833 5,817 4,54,191
  16 $ 1,15,803 $ 42,102 $ 73,701 $ 3,80,490
March-2032 9,650 3,785 5,865 4,48,326
April-2032 9,650 3,736 5,914 4,42,412
May-2032 9,650 3,687 5,963 4,36,448
June-2032 9,650 3,637 6,013 4,30,435
July-2032 9,650 3,587 6,063 4,24,372
August-2032 9,650 3,536 6,114 4,18,258
September-2032 9,650 3,485 6,165 4,12,093
October-2032 9,650 3,434 6,216 4,05,877
November-2032 9,650 3,382 6,268 3,99,609
December-2032 9,650 3,330 6,320 3,93,289
January-2033 9,650 3,277 6,373 3,86,916
February-2033 9,650 3,224 6,426 3,80,490
  17 $ 1,15,803 $ 34,384 $ 81,418 $ 2,99,072
March-2033 9,650 3,171 6,479 3,74,011
April-2033 9,650 3,117 6,533 3,67,477
May-2033 9,650 3,062 6,588 3,60,889
June-2033 9,650 3,007 6,643 3,54,247
July-2033 9,650 2,952 6,698 3,47,548
August-2033 9,650 2,896 6,754 3,40,795
September-2033 9,650 2,840 6,810 3,33,984
October-2033 9,650 2,783 6,867 3,27,117
November-2033 9,650 2,726 6,924 3,20,193
December-2033 9,650 2,668 6,982 3,13,211
January-2034 9,650 2,610 7,040 3,06,171
February-2034 9,650 2,551 7,099 2,99,072
  18 $ 1,15,803 $ 25,859 $ 89,944 $ 2,09,128
March-2034 9,650 2,492 7,158 2,91,914
April-2034 9,650 2,433 7,218 2,84,697
May-2034 9,650 2,372 7,278 2,77,419
June-2034 9,650 2,312 7,338 2,70,080
July-2034 9,650 2,251 7,400 2,62,681
August-2034 9,650 2,189 7,461 2,55,220
September-2034 9,650 2,127 7,523 2,47,696
October-2034 9,650 2,064 7,586 2,40,110
November-2034 9,650 2,001 7,649 2,32,461
December-2034 9,650 1,937 7,713 2,24,748
January-2035 9,650 1,873 7,777 2,16,971
February-2035 9,650 1,808 7,842 2,09,128
  19 $ 1,15,803 $ 16,441 $ 99,362 $ 1,09,766
March-2035 9,650 1,743 7,907 2,01,221
April-2035 9,650 1,677 7,973 1,93,248
May-2035 9,650 1,610 8,040 1,85,208
June-2035 9,650 1,543 8,107 1,77,101
July-2035 9,650 1,476 8,174 1,68,927
August-2035 9,650 1,408 8,242 1,60,684
September-2035 9,650 1,339 8,311 1,52,373
October-2035 9,650 1,270 8,380 1,43,992
November-2035 9,650 1,200 8,450 1,35,542
December-2035 9,650 1,130 8,521 1,27,021
January-2036 9,650 1,059 8,592 1,18,430
February-2036 9,650 987 8,663 1,09,766
  20 $ 1,15,803 $ 6,036 $ 1,09,766 $ 0
March-2036 9,650 915 8,735 1,01,031
April-2036 9,650 842 8,808 92,223
May-2036 9,650 769 8,882 83,341
June-2036 9,650 695 8,956 74,385
July-2036 9,650 620 9,030 65,355
August-2036 9,650 545 9,106 56,249
September-2036 9,650 469 9,181 47,068
October-2036 9,650 392 9,258 37,810
November-2036 9,650 315 9,335 28,475
December-2036 9,650 237 9,413 19,062
January-2037 9,650 159 9,491 9,570
February-2037 9,650 80 9,570 0

Flat Rate EMI Calculator
Calculate EMI for a flat rate loan with annual and monthly amortization tables
Loan Amt
Loan Term    years
Flat Rate   %


Convert Flat to Reducing Balance Interest Rate
This tool finds the effective interest rate for a flat rate interest loan.
Loan Amount      ₹   
Loan Term       years
Flat Interest Rate %
Flat -vs- Reducing Balance Interest Rate
Check the EMI Calculations for Flat vs Reducing Balance Interest Rate

In Flat Interest Rate loans, interest is calculated on the initial principal amount througout the loan tenure.

In Reducing Balance Interest Rate loans, interest is calculated on the remaining principal amount at any time.

Flat interest rate is normally used by vehicle finance companies.
Loan Amount      ₹   
Loan Term       years
Flat Rate                   %
Reducing Balance Rate %


Compare EMI Calculations
Compare EMI calculations for 2 interest rates. See how EMI and total interest amount change for different interest rates and the same loan amount and tenure. Useful when bank interest rates are changes for existing loans.
Loan Amount  ₹ 
Loan Term     years
Interest Rate 1 %
Interest Rate 2 %





What is EMI ?

According to WikiPedia an Equated Monthly Installment (EMI) is defined as "A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full."

It further explains that, with most common types of loans, such as real estate mortgages, the borrower makes fixed periodic payments to the lender over the course of several years with the goal of retiring the loan. EMIs differ from variable payment plans, in which the borrower is able to pay higher payment amounts at his or her discretion. In EMI plans, borrowers are usually only allowed one fixed payment amount each month.

The benefit of an EMI for borrowers is that they know precisely how much money they will need to pay toward their loan each month, making the personal budgeting process easier.

The formula for EMI (in arrears) is:

Responsive image
  • A : Periodic Payment
  • P : Principal Amount Borrowed
  • r : Periodic Interest Rate
  • n : Total Number of Payments
What is Amortization Table ?
An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule.
Read more at WikiPedia.
What is Financial Year Amortization Table ?
The financial year calculation presents the amortiztion table on a fiscal year basis. Normally Annual Amortiztion Table will show the calculations for a 12 months period from the starting EMI.

e.g.
You are in India where the financial year is from April 1st to March 31st.
You have taken loan for 3 years (36 months).
Your first EMI is in the month of June 2015.
Your last EMI is in the month of May 2018.

  • Annual Amortiztion Table :
    The annual amortiztion table will show 3 rows with each having calculations for straight 12 months from June to May.
    1. June 2015 - May 2016
    2. June 2016 - May 2017
    3. June 2017 - May 2018


  • Financial Year Amortization Table :
    This will have 4 calculations:First calculation will for the ongoing fiscal year : June to March, Then next 2 calculations will be for April to March and last one for the month of May and June.
    1. June 2015 - March 2016
    2. April 2016 - March 2017
    3. April 2017 - March 2018
    4. April 2018 - May 2018


There is no difference regarding the amount in both calculations. There is only difference in the way of grouping the EMIs.

In many countries these principal and interest components are used for tax calculations for a given fiscal year.

This tool will help in identifying each years share of principal and interest in the repayments.