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