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