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 = 23-February-2037

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
March-2017 9,984 8,750 1,234 9,98,766
April-2017 9,984 8,739 1,245 9,97,522
May-2017 9,984 8,728 1,255 9,96,266
June-2017 9,984 8,717 1,266 9,95,000
July-2017 9,984 8,706 1,278 9,93,722
August-2017 9,984 8,695 1,289 9,92,433
September-2017 9,984 8,684 1,300 9,91,133
October-2017 9,984 8,672 1,311 9,89,822
November-2017 9,984 8,661 1,323 9,88,499
December-2017 9,984 8,649 1,334 9,87,165
January-2018 9,984 8,638 1,346 9,85,819
February-2018 9,984 8,626 1,358 9,84,461
  2 $ 1,19,806 $ 1,02,554 $ 17,252 $ 9,67,209
March-2018 9,984 8,614 1,370 9,83,091
April-2018 9,984 8,602 1,382 9,81,709
May-2018 9,984 8,590 1,394 9,80,315
June-2018 9,984 8,578 1,406 9,78,909
July-2018 9,984 8,565 1,418 9,77,491
August-2018 9,984 8,553 1,431 9,76,060
September-2018 9,984 8,541 1,443 9,74,617
October-2018 9,984 8,528 1,456 9,73,161
November-2018 9,984 8,515 1,469 9,71,692
December-2018 9,984 8,502 1,481 9,70,211
January-2019 9,984 8,489 1,494 9,68,716
February-2019 9,984 8,476 1,508 9,67,209
  3 $ 1,19,806 $ 1,00,653 $ 19,153 $ 9,48,056
March-2019 9,984 8,463 1,521 9,65,688
April-2019 9,984 8,450 1,534 9,64,154
May-2019 9,984 8,436 1,547 9,62,607
June-2019 9,984 8,423 1,561 9,61,046
July-2019 9,984 8,409 1,575 9,59,471
August-2019 9,984 8,395 1,588 9,57,883
September-2019 9,984 8,381 1,602 9,56,280
October-2019 9,984 8,367 1,616 9,54,664
November-2019 9,984 8,353 1,630 9,53,033
December-2019 9,984 8,339 1,645 9,51,389
January-2020 9,984 8,325 1,659 9,49,730
February-2020 9,984 8,310 1,674 9,48,056
  4 $ 1,19,806 $ 98,542 $ 21,264 $ 9,26,792
March-2020 9,984 8,295 1,688 9,46,368
April-2020 9,984 8,281 1,703 9,44,665
May-2020 9,984 8,266 1,718 9,42,947
June-2020 9,984 8,251 1,733 9,41,214
July-2020 9,984 8,236 1,748 9,39,465
August-2020 9,984 8,220 1,763 9,37,702
September-2020 9,984 8,205 1,779 9,35,923
October-2020 9,984 8,189 1,794 9,34,128
November-2020 9,984 8,174 1,810 9,32,318
December-2020 9,984 8,158 1,826 9,30,492
January-2021 9,984 8,142 1,842 9,28,650
February-2021 9,984 8,126 1,858 9,26,792
  5 $ 1,19,806 $ 96,199 $ 23,607 $ 9,03,185
March-2021 9,984 8,109 1,874 9,24,918
April-2021 9,984 8,093 1,891 9,23,027
May-2021 9,984 8,076 1,907 9,21,120
June-2021 9,984 8,060 1,924 9,19,196
July-2021 9,984 8,043 1,941 9,17,255
August-2021 9,984 8,026 1,958 9,15,297
September-2021 9,984 8,009 1,975 9,13,322
October-2021 9,984 7,992 1,992 9,11,330
November-2021 9,984 7,974 2,010 9,09,320
December-2021 9,984 7,957 2,027 9,07,293
January-2022 9,984 7,939 2,045 9,05,248
February-2022 9,984 7,921 2,063 9,03,185
  6 $ 1,19,806 $ 93,597 $ 26,209 $ 8,76,977
March-2022 9,984 7,903 2,081 9,01,104
April-2022 9,984 7,885 2,099 8,99,005
May-2022 9,984 7,866 2,118 8,96,888
June-2022 9,984 7,848 2,136 8,94,752
July-2022 9,984 7,829 2,155 8,92,597
August-2022 9,984 7,810 2,174 8,90,423
September-2022 9,984 7,791 2,193 8,88,231
October-2022 9,984 7,772 2,212 8,86,019
November-2022 9,984 7,753 2,231 8,83,788
December-2022 9,984 7,733 2,251 8,81,537
January-2023 9,984 7,713 2,270 8,79,267
February-2023 9,984 7,694 2,290 8,76,977
  7 $ 1,19,806 $ 90,709 $ 29,097 $ 8,47,880
March-2023 9,984 7,674 2,310 8,74,666
April-2023 9,984 7,653 2,330 8,72,336
May-2023 9,984 7,633 2,351 8,69,985
June-2023 9,984 7,612 2,371 8,67,613
July-2023 9,984 7,592 2,392 8,65,221
August-2023 9,984 7,571 2,413 8,62,808
September-2023 9,984 7,550 2,434 8,60,374
October-2023 9,984 7,528 2,456 8,57,918
November-2023 9,984 7,507 2,477 8,55,441
December-2023 9,984 7,485 2,499 8,52,943
January-2024 9,984 7,463 2,521 8,50,422
February-2024 9,984 7,441 2,543 8,47,880
  8 $ 1,19,806 $ 87,502 $ 32,303 $ 8,15,576
March-2024 9,984 7,419 2,565 8,45,315
April-2024 9,984 7,397 2,587 8,42,727
May-2024 9,984 7,374 2,610 8,40,118
June-2024 9,984 7,351 2,633 8,37,485
July-2024 9,984 7,328 2,656 8,34,829
August-2024 9,984 7,305 2,679 8,32,150
September-2024 9,984 7,281 2,702 8,29,447
October-2024 9,984 7,258 2,726 8,26,721
November-2024 9,984 7,234 2,750 8,23,971
December-2024 9,984 7,210 2,774 8,21,197
January-2025 9,984 7,185 2,798 8,18,399
February-2025 9,984 7,161 2,823 8,15,576
  9 $ 1,19,806 $ 83,942 $ 35,863 $ 7,79,713
March-2025 9,984 7,136 2,848 8,12,729
April-2025 9,984 7,111 2,872 8,09,856
May-2025 9,984 7,086 2,898 8,06,959
June-2025 9,984 7,061 2,923 8,04,036
July-2025 9,984 7,035 2,948 8,01,087
August-2025 9,984 7,010 2,974 7,98,113
September-2025 9,984 6,983 3,000 7,95,113
October-2025 9,984 6,957 3,027 7,92,086
November-2025 9,984 6,931 3,053 7,89,033
December-2025 9,984 6,904 3,080 7,85,953
January-2026 9,984 6,877 3,107 7,82,847
February-2026 9,984 6,850 3,134 7,79,713
  10 $ 1,19,806 $ 79,990 $ 39,816 $ 7,39,897
March-2026 9,984 6,822 3,161 7,76,551
April-2026 9,984 6,795 3,189 7,73,362
May-2026 9,984 6,767 3,217 7,70,145
June-2026 9,984 6,739 3,245 7,66,900
July-2026 9,984 6,710 3,273 7,63,627
August-2026 9,984 6,682 3,302 7,60,325
September-2026 9,984 6,653 3,331 7,56,994
October-2026 9,984 6,624 3,360 7,53,634
November-2026 9,984 6,594 3,390 7,50,244
December-2026 9,984 6,565 3,419 7,46,825
January-2027 9,984 6,535 3,449 7,43,376
February-2027 9,984 6,505 3,479 7,39,897
  11 $ 1,19,806 $ 75,602 $ 44,204 $ 6,95,693
March-2027 9,984 6,474 3,510 7,36,387
April-2027 9,984 6,443 3,540 7,32,847
May-2027 9,984 6,412 3,571 7,29,275
June-2027 9,984 6,381 3,603 7,25,673
July-2027 9,984 6,350 3,634 7,22,039
August-2027 9,984 6,318 3,666 7,18,373
September-2027 9,984 6,286 3,698 7,14,675
October-2027 9,984 6,253 3,730 7,10,944
November-2027 9,984 6,221 3,763 7,07,181
December-2027 9,984 6,188 3,796 7,03,385
January-2028 9,984 6,155 3,829 6,99,556
February-2028 9,984 6,121 3,863 6,95,693
  12 $ 1,19,806 $ 70,731 $ 49,075 $ 6,46,618
March-2028 9,984 6,087 3,896 6,91,797
April-2028 9,984 6,053 3,931 6,87,866
May-2028 9,984 6,019 3,965 6,83,901
June-2028 9,984 5,984 4,000 6,79,902
July-2028 9,984 5,949 4,035 6,75,867
August-2028 9,984 5,914 4,070 6,71,797
September-2028 9,984 5,878 4,106 6,67,691
October-2028 9,984 5,842 4,141 6,63,550
November-2028 9,984 5,806 4,178 6,59,372
December-2028 9,984 5,770 4,214 6,55,158
January-2029 9,984 5,733 4,251 6,50,907
February-2029 9,984 5,695 4,288 6,46,618
  13 $ 1,19,806 $ 65,322 $ 54,483 $ 5,92,135
March-2029 9,984 5,658 4,326 6,42,293
April-2029 9,984 5,620 4,364 6,37,929
May-2029 9,984 5,582 4,402 6,33,527
June-2029 9,984 5,543 4,440 6,29,086
July-2029 9,984 5,505 4,479 6,24,607
August-2029 9,984 5,465 4,518 6,20,089
September-2029 9,984 5,426 4,558 6,15,531
October-2029 9,984 5,386 4,598 6,10,933
November-2029 9,984 5,346 4,638 6,06,295
December-2029 9,984 5,305 4,679 6,01,616
January-2030 9,984 5,264 4,720 5,96,896
February-2030 9,984 5,223 4,761 5,92,135
  14 $ 1,19,806 $ 59,318 $ 60,487 $ 5,31,648
March-2030 9,984 5,181 4,803 5,87,333
April-2030 9,984 5,139 4,845 5,82,488
May-2030 9,984 5,097 4,887 5,77,601
June-2030 9,984 5,054 4,930 5,72,671
July-2030 9,984 5,011 4,973 5,67,698
August-2030 9,984 4,967 5,016 5,62,682
September-2030 9,984 4,923 5,060 5,57,621
October-2030 9,984 4,879 5,105 5,52,517
November-2030 9,984 4,835 5,149 5,47,368
December-2030 9,984 4,789 5,194 5,42,173
January-2031 9,984 4,744 5,240 5,36,933
February-2031 9,984 4,698 5,286 5,31,648
  15 $ 1,19,806 $ 52,652 $ 67,153 $ 4,64,495
March-2031 9,984 4,652 5,332 5,26,316
April-2031 9,984 4,605 5,379 5,20,937
May-2031 9,984 4,558 5,426 5,15,512
June-2031 9,984 4,511 5,473 5,10,039
July-2031 9,984 4,463 5,521 5,04,518
August-2031 9,984 4,415 5,569 4,98,949
September-2031 9,984 4,366 5,618 4,93,331
October-2031 9,984 4,317 5,667 4,87,663
November-2031 9,984 4,267 5,717 4,81,947
December-2031 9,984 4,217 5,767 4,76,180
January-2032 9,984 4,167 5,817 4,70,363
February-2032 9,984 4,116 5,868 4,64,495
  16 $ 1,19,806 $ 45,252 $ 74,554 $ 3,89,941
March-2032 9,984 4,064 5,919 4,58,575
April-2032 9,984 4,013 5,971 4,52,604
May-2032 9,984 3,960 6,024 4,46,580
June-2032 9,984 3,908 6,076 4,40,504
July-2032 9,984 3,854 6,129 4,34,375
August-2032 9,984 3,801 6,183 4,28,192
September-2032 9,984 3,747 6,237 4,21,955
October-2032 9,984 3,692 6,292 4,15,663
November-2032 9,984 3,637 6,347 4,09,316
December-2032 9,984 3,582 6,402 4,02,914
January-2033 9,984 3,525 6,458 3,96,455
February-2033 9,984 3,469 6,515 3,89,941
  17 $ 1,19,806 $ 37,036 $ 82,770 $ 3,07,171
March-2033 9,984 3,412 6,572 3,83,369
April-2033 9,984 3,354 6,629 3,76,740
May-2033 9,984 3,296 6,687 3,70,052
June-2033 9,984 3,238 6,746 3,63,306
July-2033 9,984 3,179 6,805 3,56,501
August-2033 9,984 3,119 6,864 3,49,637
September-2033 9,984 3,059 6,924 3,42,713
October-2033 9,984 2,999 6,985 3,35,728
November-2033 9,984 2,938 7,046 3,28,681
December-2033 9,984 2,876 7,108 3,21,574
January-2034 9,984 2,814 7,170 3,14,403
February-2034 9,984 2,751 7,233 3,07,171
  18 $ 1,19,806 $ 27,914 $ 91,891 $ 2,15,279
March-2034 9,984 2,688 7,296 2,99,875
April-2034 9,984 2,624 7,360 2,92,515
May-2034 9,984 2,560 7,424 2,85,090
June-2034 9,984 2,495 7,489 2,77,601
July-2034 9,984 2,429 7,555 2,70,046
August-2034 9,984 2,363 7,621 2,62,426
September-2034 9,984 2,296 7,688 2,54,738
October-2034 9,984 2,229 7,755 2,46,983
November-2034 9,984 2,161 7,823 2,39,160
December-2034 9,984 2,093 7,891 2,31,269
January-2035 9,984 2,024 7,960 2,23,309
February-2035 9,984 1,954 8,030 2,15,279
  19 $ 1,19,806 $ 17,787 $ 1,02,018 $ 1,13,261
March-2035 9,984 1,884 8,100 2,07,179
April-2035 9,984 1,813 8,171 1,99,008
May-2035 9,984 1,741 8,242 1,90,766
June-2035 9,984 1,669 8,315 1,82,451
July-2035 9,984 1,596 8,387 1,74,064
August-2035 9,984 1,523 8,461 1,65,603
September-2035 9,984 1,449 8,535 1,57,068
October-2035 9,984 1,374 8,609 1,48,459
November-2035 9,984 1,299 8,685 1,39,774
December-2035 9,984 1,223 8,761 1,31,013
January-2036 9,984 1,146 8,837 1,22,176
February-2036 9,984 1,069 8,915 1,13,261
  20 $ 1,19,806 $ 6,545 $ 1,13,261 $ -0
March-2036 9,984 991 8,993 1,04,268
April-2036 9,984 912 9,071 95,197
May-2036 9,984 833 9,151 86,046
June-2036 9,984 753 9,231 76,815
July-2036 9,984 672 9,312 67,503
August-2036 9,984 591 9,393 58,110
September-2036 9,984 508 9,475 48,635
October-2036 9,984 426 9,558 39,077
November-2036 9,984 342 9,642 29,435
December-2036 9,984 258 9,726 19,709
January-2037 9,984 172 9,811 9,897
February-2037 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 %


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.