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