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 = $ 9,650

Total Interest = $ 13,16,052

Total Payments = $ 23,16,052

Periods = 240 months

Last EMI Date = 20-September-2037

Repayment Chart
Payment Distribution Graph
Amortization Table
Year Total Payment Interest Principal Balance
  1 $ 1,15,803 $ 99,255 $ 16,547 $ 9,83,453
October-2017 9,650 8,333 1,317 9,98,683
November-2017 9,650 8,322 1,328 9,97,355
December-2017 9,650 8,311 1,339 9,96,016
January-2018 9,650 8,300 1,350 9,94,666
February-2018 9,650 8,289 1,361 9,93,305
March-2018 9,650 8,278 1,373 9,91,932
April-2018 9,650 8,266 1,384 9,90,548
May-2018 9,650 8,255 1,396 9,89,152
June-2018 9,650 8,243 1,407 9,87,745
July-2018 9,650 8,231 1,419 9,86,326
August-2018 9,650 8,219 1,431 9,84,895
September-2018 9,650 8,207 1,443 9,83,453
  2 $ 1,15,803 $ 97,522 $ 18,280 $ 9,65,173
October-2018 9,650 8,195 1,455 9,81,998
November-2018 9,650 8,183 1,467 9,80,531
December-2018 9,650 8,171 1,479 9,79,052
January-2019 9,650 8,159 1,491 9,77,560
February-2019 9,650 8,146 1,504 9,76,056
March-2019 9,650 8,134 1,516 9,74,540
April-2019 9,650 8,121 1,529 9,73,011
May-2019 9,650 8,108 1,542 9,71,469
June-2019 9,650 8,096 1,555 9,69,915
July-2019 9,650 8,083 1,568 9,68,347
August-2019 9,650 8,070 1,581 9,66,766
September-2019 9,650 8,056 1,594 9,65,173
  3 $ 1,15,803 $ 95,608 $ 20,194 $ 9,44,978
October-2019 9,650 8,043 1,607 9,63,565
November-2019 9,650 8,030 1,621 9,61,945
December-2019 9,650 8,016 1,634 9,60,311
January-2020 9,650 8,003 1,648 9,58,663
February-2020 9,650 7,989 1,661 9,57,002
March-2020 9,650 7,975 1,675 9,55,327
April-2020 9,650 7,961 1,689 9,53,638
May-2020 9,650 7,947 1,703 9,51,934
June-2020 9,650 7,933 1,717 9,50,217
July-2020 9,650 7,918 1,732 9,48,485
August-2020 9,650 7,904 1,746 9,46,739
September-2020 9,650 7,889 1,761 9,44,978
  4 $ 1,15,803 $ 93,494 $ 22,309 $ 9,22,669
October-2020 9,650 7,875 1,775 9,43,203
November-2020 9,650 7,860 1,790 9,41,413
December-2020 9,650 7,845 1,805 9,39,608
January-2021 9,650 7,830 1,820 9,37,787
February-2021 9,650 7,815 1,835 9,35,952
March-2021 9,650 7,800 1,851 9,34,101
April-2021 9,650 7,784 1,866 9,32,235
May-2021 9,650 7,769 1,882 9,30,354
June-2021 9,650 7,753 1,897 9,28,457
July-2021 9,650 7,737 1,913 9,26,543
August-2021 9,650 7,721 1,929 9,24,614
September-2021 9,650 7,705 1,945 9,22,669
  5 $ 1,15,803 $ 91,158 $ 24,645 $ 8,98,024
October-2021 9,650 7,689 1,961 9,20,708
November-2021 9,650 7,673 1,978 9,18,730
December-2021 9,650 7,656 1,994 9,16,736
January-2022 9,650 7,639 2,011 9,14,726
February-2022 9,650 7,623 2,028 9,12,698
March-2022 9,650 7,606 2,044 9,10,654
April-2022 9,650 7,589 2,061 9,08,592
May-2022 9,650 7,572 2,079 9,06,514
June-2022 9,650 7,554 2,096 9,04,418
July-2022 9,650 7,537 2,113 9,02,304
August-2022 9,650 7,519 2,131 9,00,173
September-2022 9,650 7,501 2,149 8,98,024
  6 $ 1,15,803 $ 88,577 $ 27,226 $ 8,70,799
October-2022 9,650 7,484 2,167 8,95,858
November-2022 9,650 7,465 2,185 8,93,673
December-2022 9,650 7,447 2,203 8,91,470
January-2023 9,650 7,429 2,221 8,89,249
February-2023 9,650 7,410 2,240 8,87,009
March-2023 9,650 7,392 2,258 8,84,750
April-2023 9,650 7,373 2,277 8,82,473
May-2023 9,650 7,354 2,296 8,80,177
June-2023 9,650 7,335 2,315 8,77,862
July-2023 9,650 7,316 2,335 8,75,527
August-2023 9,650 7,296 2,354 8,73,173
September-2023 9,650 7,276 2,374 8,70,799
  7 $ 1,15,803 $ 85,726 $ 30,076 $ 8,40,722
October-2023 9,650 7,257 2,394 8,68,405
November-2023 9,650 7,237 2,414 8,65,992
December-2023 9,650 7,217 2,434 8,63,558
January-2024 9,650 7,196 2,454 8,61,104
February-2024 9,650 7,176 2,474 8,58,630
March-2024 9,650 7,155 2,495 8,56,135
April-2024 9,650 7,134 2,516 8,53,619
May-2024 9,650 7,113 2,537 8,51,082
June-2024 9,650 7,092 2,558 8,48,525
July-2024 9,650 7,071 2,579 8,45,945
August-2024 9,650 7,050 2,601 8,43,345
September-2024 9,650 7,028 2,622 8,40,722
  8 $ 1,15,803 $ 82,577 $ 33,226 $ 8,07,497
October-2024 9,650 7,006 2,644 8,38,078
November-2024 9,650 6,984 2,666 8,35,412
December-2024 9,650 6,962 2,688 8,32,724
January-2025 9,650 6,939 2,711 8,30,013
February-2025 9,650 6,917 2,733 8,27,279
March-2025 9,650 6,894 2,756 8,24,523
April-2025 9,650 6,871 2,779 8,21,744
May-2025 9,650 6,848 2,802 8,18,941
June-2025 9,650 6,825 2,826 8,16,116
July-2025 9,650 6,801 2,849 8,13,267
August-2025 9,650 6,777 2,873 8,10,394
September-2025 9,650 6,753 2,897 8,07,497
  9 $ 1,15,803 $ 79,098 $ 36,705 $ 7,70,792
October-2025 9,650 6,729 2,921 8,04,576
November-2025 9,650 6,705 2,945 8,01,630
December-2025 9,650 6,680 2,970 7,98,660
January-2026 9,650 6,656 2,995 7,95,665
February-2026 9,650 6,631 3,020 7,92,646
March-2026 9,650 6,605 3,045 7,89,601
April-2026 9,650 6,580 3,070 7,86,531
May-2026 9,650 6,554 3,096 7,83,435
June-2026 9,650 6,529 3,122 7,80,313
July-2026 9,650 6,503 3,148 7,77,166
August-2026 9,650 6,476 3,174 7,73,992
September-2026 9,650 6,450 3,200 7,70,792
  10 $ 1,15,803 $ 75,254 $ 40,548 $ 7,30,243
October-2026 9,650 6,423 3,227 7,67,565
November-2026 9,650 6,396 3,254 7,64,311
December-2026 9,650 6,369 3,281 7,61,030
January-2027 9,650 6,342 3,308 7,57,722
February-2027 9,650 6,314 3,336 7,54,386
March-2027 9,650 6,287 3,364 7,51,022
April-2027 9,650 6,259 3,392 7,47,630
May-2027 9,650 6,230 3,420 7,44,210
June-2027 9,650 6,202 3,448 7,40,762
July-2027 9,650 6,173 3,477 7,37,285
August-2027 9,650 6,144 3,506 7,33,779
September-2027 9,650 6,115 3,535 7,30,243
  11 $ 1,15,803 $ 71,008 $ 44,794 $ 6,85,449
October-2027 9,650 6,085 3,565 7,26,678
November-2027 9,650 6,056 3,595 7,23,084
December-2027 9,650 6,026 3,625 7,19,459
January-2028 9,650 5,995 3,655 7,15,804
February-2028 9,650 5,965 3,685 7,12,119
March-2028 9,650 5,934 3,716 7,08,403
April-2028 9,650 5,903 3,747 7,04,657
May-2028 9,650 5,872 3,778 7,00,878
June-2028 9,650 5,841 3,810 6,97,069
July-2028 9,650 5,809 3,841 6,93,228
August-2028 9,650 5,777 3,873 6,89,354
September-2028 9,650 5,745 3,906 6,85,449
  12 $ 1,15,803 $ 66,318 $ 49,485 $ 6,35,964
October-2028 9,650 5,712 3,938 6,81,511
November-2028 9,650 5,679 3,971 6,77,540
December-2028 9,650 5,646 4,004 6,73,535
January-2029 9,650 5,613 4,037 6,69,498
February-2029 9,650 5,579 4,071 6,65,427
March-2029 9,650 5,545 4,105 6,61,322
April-2029 9,650 5,511 4,139 6,57,183
May-2029 9,650 5,477 4,174 6,53,009
June-2029 9,650 5,442 4,208 6,48,801
July-2029 9,650 5,407 4,244 6,44,557
August-2029 9,650 5,371 4,279 6,40,278
September-2029 9,650 5,336 4,315 6,35,964
  13 $ 1,15,803 $ 61,136 $ 54,667 $ 5,81,297
October-2029 9,650 5,300 4,351 6,31,613
November-2029 9,650 5,263 4,387 6,27,226
December-2029 9,650 5,227 4,423 6,22,803
January-2030 9,650 5,190 4,460 6,18,343
February-2030 9,650 5,153 4,497 6,13,845
March-2030 9,650 5,115 4,535 6,09,311
April-2030 9,650 5,078 4,573 6,04,738
May-2030 9,650 5,039 4,611 6,00,127
June-2030 9,650 5,001 4,649 5,95,478
July-2030 9,650 4,962 4,688 5,90,790
August-2030 9,650 4,923 4,727 5,86,063
September-2030 9,650 4,884 4,766 5,81,297
  14 $ 1,15,803 $ 55,412 $ 60,391 $ 5,20,906
October-2030 9,650 4,844 4,806 5,76,491
November-2030 9,650 4,804 4,846 5,71,645
December-2030 9,650 4,764 4,887 5,66,758
January-2031 9,650 4,723 4,927 5,61,831
February-2031 9,650 4,682 4,968 5,56,863
March-2031 9,650 4,641 5,010 5,51,853
April-2031 9,650 4,599 5,051 5,46,802
May-2031 9,650 4,557 5,094 5,41,708
June-2031 9,650 4,514 5,136 5,36,572
July-2031 9,650 4,471 5,179 5,31,393
August-2031 9,650 4,428 5,222 5,26,171
September-2031 9,650 4,385 5,265 5,20,906
  15 $ 1,15,803 $ 49,088 $ 66,715 $ 4,54,191
October-2031 9,650 4,341 5,309 5,15,596
November-2031 9,650 4,297 5,354 5,10,243
December-2031 9,650 4,252 5,398 5,04,845
January-2032 9,650 4,207 5,443 4,99,402
February-2032 9,650 4,162 5,489 4,93,913
March-2032 9,650 4,116 5,534 4,88,379
April-2032 9,650 4,070 5,580 4,82,798
May-2032 9,650 4,023 5,627 4,77,171
June-2032 9,650 3,976 5,674 4,71,498
July-2032 9,650 3,929 5,721 4,65,777
August-2032 9,650 3,881 5,769 4,60,008
September-2032 9,650 3,833 5,817 4,54,191
  16 $ 1,15,803 $ 42,102 $ 73,701 $ 3,80,490
October-2032 9,650 3,785 5,865 4,48,326
November-2032 9,650 3,736 5,914 4,42,412
December-2032 9,650 3,687 5,963 4,36,448
January-2033 9,650 3,637 6,013 4,30,435
February-2033 9,650 3,587 6,063 4,24,372
March-2033 9,650 3,536 6,114 4,18,258
April-2033 9,650 3,485 6,165 4,12,093
May-2033 9,650 3,434 6,216 4,05,877
June-2033 9,650 3,382 6,268 3,99,609
July-2033 9,650 3,330 6,320 3,93,289
August-2033 9,650 3,277 6,373 3,86,916
September-2033 9,650 3,224 6,426 3,80,490
  17 $ 1,15,803 $ 34,384 $ 81,418 $ 2,99,072
October-2033 9,650 3,171 6,479 3,74,011
November-2033 9,650 3,117 6,533 3,67,477
December-2033 9,650 3,062 6,588 3,60,889
January-2034 9,650 3,007 6,643 3,54,247
February-2034 9,650 2,952 6,698 3,47,548
March-2034 9,650 2,896 6,754 3,40,795
April-2034 9,650 2,840 6,810 3,33,984
May-2034 9,650 2,783 6,867 3,27,117
June-2034 9,650 2,726 6,924 3,20,193
July-2034 9,650 2,668 6,982 3,13,211
August-2034 9,650 2,610 7,040 3,06,171
September-2034 9,650 2,551 7,099 2,99,072
  18 $ 1,15,803 $ 25,859 $ 89,944 $ 2,09,128
October-2034 9,650 2,492 7,158 2,91,914
November-2034 9,650 2,433 7,218 2,84,697
December-2034 9,650 2,372 7,278 2,77,419
January-2035 9,650 2,312 7,338 2,70,080
February-2035 9,650 2,251 7,400 2,62,681
March-2035 9,650 2,189 7,461 2,55,220
April-2035 9,650 2,127 7,523 2,47,696
May-2035 9,650 2,064 7,586 2,40,110
June-2035 9,650 2,001 7,649 2,32,461
July-2035 9,650 1,937 7,713 2,24,748
August-2035 9,650 1,873 7,777 2,16,971
September-2035 9,650 1,808 7,842 2,09,128
  19 $ 1,15,803 $ 16,441 $ 99,362 $ 1,09,766
October-2035 9,650 1,743 7,907 2,01,221
November-2035 9,650 1,677 7,973 1,93,248
December-2035 9,650 1,610 8,040 1,85,208
January-2036 9,650 1,543 8,107 1,77,101
February-2036 9,650 1,476 8,174 1,68,927
March-2036 9,650 1,408 8,242 1,60,684
April-2036 9,650 1,339 8,311 1,52,373
May-2036 9,650 1,270 8,380 1,43,992
June-2036 9,650 1,200 8,450 1,35,542
July-2036 9,650 1,130 8,521 1,27,021
August-2036 9,650 1,059 8,592 1,18,430
September-2036 9,650 987 8,663 1,09,766
  20 $ 1,15,803 $ 6,036 $ 1,09,766 $ 0
October-2036 9,650 915 8,735 1,01,031
November-2036 9,650 842 8,808 92,223
December-2036 9,650 769 8,882 83,341
January-2037 9,650 695 8,956 74,385
February-2037 9,650 620 9,030 65,355
March-2037 9,650 545 9,106 56,249
April-2037 9,650 469 9,181 47,068
May-2037 9,650 392 9,258 37,810
June-2037 9,650 315 9,335 28,475
July-2037 9,650 237 9,413 19,062
August-2037 9,650 159 9,491 9,570
September-2037 9,650 80 9,570 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.