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