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