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