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 = $ 1,00,000

EMI = $ 2,500

Total Interest = $ 49,988

Total Payments = $ 1,49,988

Periods = 60 months

Last EMI Date = 23-April-2024

Repayment Chart
Payment Distribution Graph
Amortization Table
Year Total Payment Interest Principal Balance
  1 $ 29,998 $ 16,213 $ 13,785 $ 86,215
May-2019 2,500 1,439 1,061 98,939
June-2019 2,500 1,424 1,076 97,863
July-2019 2,500 1,408 1,091 96,772
August-2019 2,500 1,393 1,107 95,665
September-2019 2,500 1,377 1,123 94,542
October-2019 2,500 1,361 1,139 93,403
November-2019 2,500 1,344 1,156 92,247
December-2019 2,500 1,328 1,172 91,075
January-2020 2,500 1,311 1,189 89,886
February-2020 2,500 1,294 1,206 88,680
March-2020 2,500 1,276 1,224 87,456
April-2020 2,500 1,259 1,241 86,215
  2 $ 29,998 $ 13,634 $ 16,363 $ 69,852
May-2020 2,500 1,241 1,259 84,956
June-2020 2,500 1,223 1,277 83,679
July-2020 2,500 1,204 1,296 82,383
August-2020 2,500 1,186 1,314 81,069
September-2020 2,500 1,167 1,333 79,736
October-2020 2,500 1,148 1,352 78,384
November-2020 2,500 1,128 1,372 77,012
December-2020 2,500 1,108 1,391 75,621
January-2021 2,500 1,088 1,411 74,209
February-2021 2,500 1,068 1,432 72,777
March-2021 2,500 1,047 1,452 71,325
April-2021 2,500 1,026 1,473 69,852
  3 $ 29,998 $ 10,573 $ 19,424 $ 50,428
May-2021 2,500 1,005 1,495 68,357
June-2021 2,500 984 1,516 66,841
July-2021 2,500 962 1,538 65,303
August-2021 2,500 940 1,560 63,743
September-2021 2,500 917 1,582 62,161
October-2021 2,500 895 1,605 60,556
November-2021 2,500 871 1,628 58,927
December-2021 2,500 848 1,652 57,276
January-2022 2,500 824 1,676 55,600
February-2022 2,500 800 1,700 53,901
March-2022 2,500 776 1,724 52,176
April-2022 2,500 751 1,749 50,428
  4 $ 29,998 $ 6,940 $ 23,057 $ 27,370
May-2022 2,500 726 1,774 48,653
June-2022 2,500 700 1,800 46,854
July-2022 2,500 674 1,825 45,028
August-2022 2,500 648 1,852 43,177
September-2022 2,500 621 1,878 41,298
October-2022 2,500 594 1,905 39,393
November-2022 2,500 567 1,933 37,460
December-2022 2,500 539 1,961 35,499
January-2023 2,500 511 1,989 33,510
February-2023 2,500 482 2,018 31,493
March-2023 2,500 453 2,047 29,446
April-2023 2,500 424 2,076 27,370
  5 $ 29,998 $ 2,627 $ 27,370 $ 0
May-2023 2,500 394 2,106 25,264
June-2023 2,500 364 2,136 23,128
July-2023 2,500 333 2,167 20,961
August-2023 2,500 302 2,198 18,763
September-2023 2,500 270 2,230 16,533
October-2023 2,500 238 2,262 14,271
November-2023 2,500 205 2,294 11,977
December-2023 2,500 172 2,327 9,650
January-2024 2,500 139 2,361 7,289
February-2024 2,500 105 2,395 4,894
March-2024 2,500 70 2,429 2,464
April-2024 2,500 35 2,464 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.