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 = $ 9,984

Total Interest = $ 13,96,112

Total Payments = $ 23,96,112

Periods = 240 months

Last EMI Date = 18-April-2041

Repayment Chart
Payment Distribution Graph
Amortization Table
Year Total Payment Interest Principal Balance
  1 $ 1,19,806 $ 1,04,266 $ 15,539 $ 9,84,461
May-2021 9,984 8,750 1,234 9,98,766
June-2021 9,984 8,739 1,245 9,97,522
July-2021 9,984 8,728 1,255 9,96,266
August-2021 9,984 8,717 1,266 9,95,000
September-2021 9,984 8,706 1,278 9,93,722
October-2021 9,984 8,695 1,289 9,92,433
November-2021 9,984 8,684 1,300 9,91,133
December-2021 9,984 8,672 1,311 9,89,822
January-2022 9,984 8,661 1,323 9,88,499
February-2022 9,984 8,649 1,334 9,87,165
March-2022 9,984 8,638 1,346 9,85,819
April-2022 9,984 8,626 1,358 9,84,461
  2 $ 1,19,806 $ 1,02,554 $ 17,252 $ 9,67,209
May-2022 9,984 8,614 1,370 9,83,091
June-2022 9,984 8,602 1,382 9,81,709
July-2022 9,984 8,590 1,394 9,80,315
August-2022 9,984 8,578 1,406 9,78,909
September-2022 9,984 8,565 1,418 9,77,491
October-2022 9,984 8,553 1,431 9,76,060
November-2022 9,984 8,541 1,443 9,74,617
December-2022 9,984 8,528 1,456 9,73,161
January-2023 9,984 8,515 1,469 9,71,692
February-2023 9,984 8,502 1,481 9,70,211
March-2023 9,984 8,489 1,494 9,68,716
April-2023 9,984 8,476 1,508 9,67,209
  3 $ 1,19,806 $ 1,00,653 $ 19,153 $ 9,48,056
May-2023 9,984 8,463 1,521 9,65,688
June-2023 9,984 8,450 1,534 9,64,154
July-2023 9,984 8,436 1,547 9,62,607
August-2023 9,984 8,423 1,561 9,61,046
September-2023 9,984 8,409 1,575 9,59,471
October-2023 9,984 8,395 1,588 9,57,883
November-2023 9,984 8,381 1,602 9,56,280
December-2023 9,984 8,367 1,616 9,54,664
January-2024 9,984 8,353 1,630 9,53,033
February-2024 9,984 8,339 1,645 9,51,389
March-2024 9,984 8,325 1,659 9,49,730
April-2024 9,984 8,310 1,674 9,48,056
  4 $ 1,19,806 $ 98,542 $ 21,264 $ 9,26,792
May-2024 9,984 8,295 1,688 9,46,368
June-2024 9,984 8,281 1,703 9,44,665
July-2024 9,984 8,266 1,718 9,42,947
August-2024 9,984 8,251 1,733 9,41,214
September-2024 9,984 8,236 1,748 9,39,465
October-2024 9,984 8,220 1,763 9,37,702
November-2024 9,984 8,205 1,779 9,35,923
December-2024 9,984 8,189 1,794 9,34,128
January-2025 9,984 8,174 1,810 9,32,318
February-2025 9,984 8,158 1,826 9,30,492
March-2025 9,984 8,142 1,842 9,28,650
April-2025 9,984 8,126 1,858 9,26,792
  5 $ 1,19,806 $ 96,199 $ 23,607 $ 9,03,185
May-2025 9,984 8,109 1,874 9,24,918
June-2025 9,984 8,093 1,891 9,23,027
July-2025 9,984 8,076 1,907 9,21,120
August-2025 9,984 8,060 1,924 9,19,196
September-2025 9,984 8,043 1,941 9,17,255
October-2025 9,984 8,026 1,958 9,15,297
November-2025 9,984 8,009 1,975 9,13,322
December-2025 9,984 7,992 1,992 9,11,330
January-2026 9,984 7,974 2,010 9,09,320
February-2026 9,984 7,957 2,027 9,07,293
March-2026 9,984 7,939 2,045 9,05,248
April-2026 9,984 7,921 2,063 9,03,185
  6 $ 1,19,806 $ 93,597 $ 26,209 $ 8,76,977
May-2026 9,984 7,903 2,081 9,01,104
June-2026 9,984 7,885 2,099 8,99,005
July-2026 9,984 7,866 2,118 8,96,888
August-2026 9,984 7,848 2,136 8,94,752
September-2026 9,984 7,829 2,155 8,92,597
October-2026 9,984 7,810 2,174 8,90,423
November-2026 9,984 7,791 2,193 8,88,231
December-2026 9,984 7,772 2,212 8,86,019
January-2027 9,984 7,753 2,231 8,83,788
February-2027 9,984 7,733 2,251 8,81,537
March-2027 9,984 7,713 2,270 8,79,267
April-2027 9,984 7,694 2,290 8,76,977
  7 $ 1,19,806 $ 90,709 $ 29,097 $ 8,47,880
May-2027 9,984 7,674 2,310 8,74,666
June-2027 9,984 7,653 2,330 8,72,336
July-2027 9,984 7,633 2,351 8,69,985
August-2027 9,984 7,612 2,371 8,67,613
September-2027 9,984 7,592 2,392 8,65,221
October-2027 9,984 7,571 2,413 8,62,808
November-2027 9,984 7,550 2,434 8,60,374
December-2027 9,984 7,528 2,456 8,57,918
January-2028 9,984 7,507 2,477 8,55,441
February-2028 9,984 7,485 2,499 8,52,943
March-2028 9,984 7,463 2,521 8,50,422
April-2028 9,984 7,441 2,543 8,47,880
  8 $ 1,19,806 $ 87,502 $ 32,303 $ 8,15,576
May-2028 9,984 7,419 2,565 8,45,315
June-2028 9,984 7,397 2,587 8,42,727
July-2028 9,984 7,374 2,610 8,40,118
August-2028 9,984 7,351 2,633 8,37,485
September-2028 9,984 7,328 2,656 8,34,829
October-2028 9,984 7,305 2,679 8,32,150
November-2028 9,984 7,281 2,702 8,29,447
December-2028 9,984 7,258 2,726 8,26,721
January-2029 9,984 7,234 2,750 8,23,971
February-2029 9,984 7,210 2,774 8,21,197
March-2029 9,984 7,185 2,798 8,18,399
April-2029 9,984 7,161 2,823 8,15,576
  9 $ 1,19,806 $ 83,942 $ 35,863 $ 7,79,713
May-2029 9,984 7,136 2,848 8,12,729
June-2029 9,984 7,111 2,872 8,09,856
July-2029 9,984 7,086 2,898 8,06,959
August-2029 9,984 7,061 2,923 8,04,036
September-2029 9,984 7,035 2,948 8,01,087
October-2029 9,984 7,010 2,974 7,98,113
November-2029 9,984 6,983 3,000 7,95,113
December-2029 9,984 6,957 3,027 7,92,086
January-2030 9,984 6,931 3,053 7,89,033
February-2030 9,984 6,904 3,080 7,85,953
March-2030 9,984 6,877 3,107 7,82,847
April-2030 9,984 6,850 3,134 7,79,713
  10 $ 1,19,806 $ 79,990 $ 39,816 $ 7,39,897
May-2030 9,984 6,822 3,161 7,76,551
June-2030 9,984 6,795 3,189 7,73,362
July-2030 9,984 6,767 3,217 7,70,145
August-2030 9,984 6,739 3,245 7,66,900
September-2030 9,984 6,710 3,273 7,63,627
October-2030 9,984 6,682 3,302 7,60,325
November-2030 9,984 6,653 3,331 7,56,994
December-2030 9,984 6,624 3,360 7,53,634
January-2031 9,984 6,594 3,390 7,50,244
February-2031 9,984 6,565 3,419 7,46,825
March-2031 9,984 6,535 3,449 7,43,376
April-2031 9,984 6,505 3,479 7,39,897
  11 $ 1,19,806 $ 75,602 $ 44,204 $ 6,95,693
May-2031 9,984 6,474 3,510 7,36,387
June-2031 9,984 6,443 3,540 7,32,847
July-2031 9,984 6,412 3,571 7,29,275
August-2031 9,984 6,381 3,603 7,25,673
September-2031 9,984 6,350 3,634 7,22,039
October-2031 9,984 6,318 3,666 7,18,373
November-2031 9,984 6,286 3,698 7,14,675
December-2031 9,984 6,253 3,730 7,10,944
January-2032 9,984 6,221 3,763 7,07,181
February-2032 9,984 6,188 3,796 7,03,385
March-2032 9,984 6,155 3,829 6,99,556
April-2032 9,984 6,121 3,863 6,95,693
  12 $ 1,19,806 $ 70,731 $ 49,075 $ 6,46,618
May-2032 9,984 6,087 3,896 6,91,797
June-2032 9,984 6,053 3,931 6,87,866
July-2032 9,984 6,019 3,965 6,83,901
August-2032 9,984 5,984 4,000 6,79,902
September-2032 9,984 5,949 4,035 6,75,867
October-2032 9,984 5,914 4,070 6,71,797
November-2032 9,984 5,878 4,106 6,67,691
December-2032 9,984 5,842 4,141 6,63,550
January-2033 9,984 5,806 4,178 6,59,372
February-2033 9,984 5,770 4,214 6,55,158
March-2033 9,984 5,733 4,251 6,50,907
April-2033 9,984 5,695 4,288 6,46,618
  13 $ 1,19,806 $ 65,322 $ 54,483 $ 5,92,135
May-2033 9,984 5,658 4,326 6,42,293
June-2033 9,984 5,620 4,364 6,37,929
July-2033 9,984 5,582 4,402 6,33,527
August-2033 9,984 5,543 4,440 6,29,086
September-2033 9,984 5,505 4,479 6,24,607
October-2033 9,984 5,465 4,518 6,20,089
November-2033 9,984 5,426 4,558 6,15,531
December-2033 9,984 5,386 4,598 6,10,933
January-2034 9,984 5,346 4,638 6,06,295
February-2034 9,984 5,305 4,679 6,01,616
March-2034 9,984 5,264 4,720 5,96,896
April-2034 9,984 5,223 4,761 5,92,135
  14 $ 1,19,806 $ 59,318 $ 60,487 $ 5,31,648
May-2034 9,984 5,181 4,803 5,87,333
June-2034 9,984 5,139 4,845 5,82,488
July-2034 9,984 5,097 4,887 5,77,601
August-2034 9,984 5,054 4,930 5,72,671
September-2034 9,984 5,011 4,973 5,67,698
October-2034 9,984 4,967 5,016 5,62,682
November-2034 9,984 4,923 5,060 5,57,621
December-2034 9,984 4,879 5,105 5,52,517
January-2035 9,984 4,835 5,149 5,47,368
February-2035 9,984 4,789 5,194 5,42,173
March-2035 9,984 4,744 5,240 5,36,933
April-2035 9,984 4,698 5,286 5,31,648
  15 $ 1,19,806 $ 52,652 $ 67,153 $ 4,64,495
May-2035 9,984 4,652 5,332 5,26,316
June-2035 9,984 4,605 5,379 5,20,937
July-2035 9,984 4,558 5,426 5,15,512
August-2035 9,984 4,511 5,473 5,10,039
September-2035 9,984 4,463 5,521 5,04,518
October-2035 9,984 4,415 5,569 4,98,949
November-2035 9,984 4,366 5,618 4,93,331
December-2035 9,984 4,317 5,667 4,87,663
January-2036 9,984 4,267 5,717 4,81,947
February-2036 9,984 4,217 5,767 4,76,180
March-2036 9,984 4,167 5,817 4,70,363
April-2036 9,984 4,116 5,868 4,64,495
  16 $ 1,19,806 $ 45,252 $ 74,554 $ 3,89,941
May-2036 9,984 4,064 5,919 4,58,575
June-2036 9,984 4,013 5,971 4,52,604
July-2036 9,984 3,960 6,024 4,46,580
August-2036 9,984 3,908 6,076 4,40,504
September-2036 9,984 3,854 6,129 4,34,375
October-2036 9,984 3,801 6,183 4,28,192
November-2036 9,984 3,747 6,237 4,21,955
December-2036 9,984 3,692 6,292 4,15,663
January-2037 9,984 3,637 6,347 4,09,316
February-2037 9,984 3,582 6,402 4,02,914
March-2037 9,984 3,525 6,458 3,96,455
April-2037 9,984 3,469 6,515 3,89,941
  17 $ 1,19,806 $ 37,036 $ 82,770 $ 3,07,171
May-2037 9,984 3,412 6,572 3,83,369
June-2037 9,984 3,354 6,629 3,76,740
July-2037 9,984 3,296 6,687 3,70,052
August-2037 9,984 3,238 6,746 3,63,306
September-2037 9,984 3,179 6,805 3,56,501
October-2037 9,984 3,119 6,864 3,49,637
November-2037 9,984 3,059 6,924 3,42,713
December-2037 9,984 2,999 6,985 3,35,728
January-2038 9,984 2,938 7,046 3,28,681
February-2038 9,984 2,876 7,108 3,21,574
March-2038 9,984 2,814 7,170 3,14,403
April-2038 9,984 2,751 7,233 3,07,171
  18 $ 1,19,806 $ 27,914 $ 91,891 $ 2,15,279
May-2038 9,984 2,688 7,296 2,99,875
June-2038 9,984 2,624 7,360 2,92,515
July-2038 9,984 2,560 7,424 2,85,090
August-2038 9,984 2,495 7,489 2,77,601
September-2038 9,984 2,429 7,555 2,70,046
October-2038 9,984 2,363 7,621 2,62,426
November-2038 9,984 2,296 7,688 2,54,738
December-2038 9,984 2,229 7,755 2,46,983
January-2039 9,984 2,161 7,823 2,39,160
February-2039 9,984 2,093 7,891 2,31,269
March-2039 9,984 2,024 7,960 2,23,309
April-2039 9,984 1,954 8,030 2,15,279
  19 $ 1,19,806 $ 17,787 $ 1,02,018 $ 1,13,261
May-2039 9,984 1,884 8,100 2,07,179
June-2039 9,984 1,813 8,171 1,99,008
July-2039 9,984 1,741 8,242 1,90,766
August-2039 9,984 1,669 8,315 1,82,451
September-2039 9,984 1,596 8,387 1,74,064
October-2039 9,984 1,523 8,461 1,65,603
November-2039 9,984 1,449 8,535 1,57,068
December-2039 9,984 1,374 8,609 1,48,459
January-2040 9,984 1,299 8,685 1,39,774
February-2040 9,984 1,223 8,761 1,31,013
March-2040 9,984 1,146 8,837 1,22,176
April-2040 9,984 1,069 8,915 1,13,261
  20 $ 1,19,806 $ 6,545 $ 1,13,261 $ -0
May-2040 9,984 991 8,993 1,04,268
June-2040 9,984 912 9,071 95,197
July-2040 9,984 833 9,151 86,046
August-2040 9,984 753 9,231 76,815
September-2040 9,984 672 9,312 67,503
October-2040 9,984 591 9,393 58,110
November-2040 9,984 508 9,475 48,635
December-2040 9,984 426 9,558 39,077
January-2041 9,984 342 9,642 29,435
February-2041 9,984 258 9,726 19,709
March-2041 9,984 172 9,811 9,897
April-2041 9,984 87 9,897 -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 %


EMI Moratorium Calculations
Compare Calculations after EMI Moratorium. Use these calculations to get approximate picture of the impact of EMI Diferment.
Loan Amount  ₹ 
Loan Term     months
Interest Rate %
Moratorium Period months



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.