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 = 11-November-2038

Repayment Chart
Payment Distribution Graph
Amortization Table
Year Total Payment Interest Principal Balance
  1 $ 1,15,803 $ 99,255 $ 16,547 $ 9,83,453
December-2018 9,650 8,333 1,317 9,98,683
January-2019 9,650 8,322 1,328 9,97,355
February-2019 9,650 8,311 1,339 9,96,016
March-2019 9,650 8,300 1,350 9,94,666
April-2019 9,650 8,289 1,361 9,93,305
May-2019 9,650 8,278 1,373 9,91,932
June-2019 9,650 8,266 1,384 9,90,548
July-2019 9,650 8,255 1,396 9,89,152
August-2019 9,650 8,243 1,407 9,87,745
September-2019 9,650 8,231 1,419 9,86,326
October-2019 9,650 8,219 1,431 9,84,895
November-2019 9,650 8,207 1,443 9,83,453
  2 $ 1,15,803 $ 97,522 $ 18,280 $ 9,65,173
December-2019 9,650 8,195 1,455 9,81,998
January-2020 9,650 8,183 1,467 9,80,531
February-2020 9,650 8,171 1,479 9,79,052
March-2020 9,650 8,159 1,491 9,77,560
April-2020 9,650 8,146 1,504 9,76,056
May-2020 9,650 8,134 1,516 9,74,540
June-2020 9,650 8,121 1,529 9,73,011
July-2020 9,650 8,108 1,542 9,71,469
August-2020 9,650 8,096 1,555 9,69,915
September-2020 9,650 8,083 1,568 9,68,347
October-2020 9,650 8,070 1,581 9,66,766
November-2020 9,650 8,056 1,594 9,65,173
  3 $ 1,15,803 $ 95,608 $ 20,194 $ 9,44,978
December-2020 9,650 8,043 1,607 9,63,565
January-2021 9,650 8,030 1,621 9,61,945
February-2021 9,650 8,016 1,634 9,60,311
March-2021 9,650 8,003 1,648 9,58,663
April-2021 9,650 7,989 1,661 9,57,002
May-2021 9,650 7,975 1,675 9,55,327
June-2021 9,650 7,961 1,689 9,53,638
July-2021 9,650 7,947 1,703 9,51,934
August-2021 9,650 7,933 1,717 9,50,217
September-2021 9,650 7,918 1,732 9,48,485
October-2021 9,650 7,904 1,746 9,46,739
November-2021 9,650 7,889 1,761 9,44,978
  4 $ 1,15,803 $ 93,494 $ 22,309 $ 9,22,669
December-2021 9,650 7,875 1,775 9,43,203
January-2022 9,650 7,860 1,790 9,41,413
February-2022 9,650 7,845 1,805 9,39,608
March-2022 9,650 7,830 1,820 9,37,787
April-2022 9,650 7,815 1,835 9,35,952
May-2022 9,650 7,800 1,851 9,34,101
June-2022 9,650 7,784 1,866 9,32,235
July-2022 9,650 7,769 1,882 9,30,354
August-2022 9,650 7,753 1,897 9,28,457
September-2022 9,650 7,737 1,913 9,26,543
October-2022 9,650 7,721 1,929 9,24,614
November-2022 9,650 7,705 1,945 9,22,669
  5 $ 1,15,803 $ 91,158 $ 24,645 $ 8,98,024
December-2022 9,650 7,689 1,961 9,20,708
January-2023 9,650 7,673 1,978 9,18,730
February-2023 9,650 7,656 1,994 9,16,736
March-2023 9,650 7,639 2,011 9,14,726
April-2023 9,650 7,623 2,028 9,12,698
May-2023 9,650 7,606 2,044 9,10,654
June-2023 9,650 7,589 2,061 9,08,592
July-2023 9,650 7,572 2,079 9,06,514
August-2023 9,650 7,554 2,096 9,04,418
September-2023 9,650 7,537 2,113 9,02,304
October-2023 9,650 7,519 2,131 9,00,173
November-2023 9,650 7,501 2,149 8,98,024
  6 $ 1,15,803 $ 88,577 $ 27,226 $ 8,70,799
December-2023 9,650 7,484 2,167 8,95,858
January-2024 9,650 7,465 2,185 8,93,673
February-2024 9,650 7,447 2,203 8,91,470
March-2024 9,650 7,429 2,221 8,89,249
April-2024 9,650 7,410 2,240 8,87,009
May-2024 9,650 7,392 2,258 8,84,750
June-2024 9,650 7,373 2,277 8,82,473
July-2024 9,650 7,354 2,296 8,80,177
August-2024 9,650 7,335 2,315 8,77,862
September-2024 9,650 7,316 2,335 8,75,527
October-2024 9,650 7,296 2,354 8,73,173
November-2024 9,650 7,276 2,374 8,70,799
  7 $ 1,15,803 $ 85,726 $ 30,076 $ 8,40,722
December-2024 9,650 7,257 2,394 8,68,405
January-2025 9,650 7,237 2,414 8,65,992
February-2025 9,650 7,217 2,434 8,63,558
March-2025 9,650 7,196 2,454 8,61,104
April-2025 9,650 7,176 2,474 8,58,630
May-2025 9,650 7,155 2,495 8,56,135
June-2025 9,650 7,134 2,516 8,53,619
July-2025 9,650 7,113 2,537 8,51,082
August-2025 9,650 7,092 2,558 8,48,525
September-2025 9,650 7,071 2,579 8,45,945
October-2025 9,650 7,050 2,601 8,43,345
November-2025 9,650 7,028 2,622 8,40,722
  8 $ 1,15,803 $ 82,577 $ 33,226 $ 8,07,497
December-2025 9,650 7,006 2,644 8,38,078
January-2026 9,650 6,984 2,666 8,35,412
February-2026 9,650 6,962 2,688 8,32,724
March-2026 9,650 6,939 2,711 8,30,013
April-2026 9,650 6,917 2,733 8,27,279
May-2026 9,650 6,894 2,756 8,24,523
June-2026 9,650 6,871 2,779 8,21,744
July-2026 9,650 6,848 2,802 8,18,941
August-2026 9,650 6,825 2,826 8,16,116
September-2026 9,650 6,801 2,849 8,13,267
October-2026 9,650 6,777 2,873 8,10,394
November-2026 9,650 6,753 2,897 8,07,497
  9 $ 1,15,803 $ 79,098 $ 36,705 $ 7,70,792
December-2026 9,650 6,729 2,921 8,04,576
January-2027 9,650 6,705 2,945 8,01,630
February-2027 9,650 6,680 2,970 7,98,660
March-2027 9,650 6,656 2,995 7,95,665
April-2027 9,650 6,631 3,020 7,92,646
May-2027 9,650 6,605 3,045 7,89,601
June-2027 9,650 6,580 3,070 7,86,531
July-2027 9,650 6,554 3,096 7,83,435
August-2027 9,650 6,529 3,122 7,80,313
September-2027 9,650 6,503 3,148 7,77,166
October-2027 9,650 6,476 3,174 7,73,992
November-2027 9,650 6,450 3,200 7,70,792
  10 $ 1,15,803 $ 75,254 $ 40,548 $ 7,30,243
December-2027 9,650 6,423 3,227 7,67,565
January-2028 9,650 6,396 3,254 7,64,311
February-2028 9,650 6,369 3,281 7,61,030
March-2028 9,650 6,342 3,308 7,57,722
April-2028 9,650 6,314 3,336 7,54,386
May-2028 9,650 6,287 3,364 7,51,022
June-2028 9,650 6,259 3,392 7,47,630
July-2028 9,650 6,230 3,420 7,44,210
August-2028 9,650 6,202 3,448 7,40,762
September-2028 9,650 6,173 3,477 7,37,285
October-2028 9,650 6,144 3,506 7,33,779
November-2028 9,650 6,115 3,535 7,30,243
  11 $ 1,15,803 $ 71,008 $ 44,794 $ 6,85,449
December-2028 9,650 6,085 3,565 7,26,678
January-2029 9,650 6,056 3,595 7,23,084
February-2029 9,650 6,026 3,625 7,19,459
March-2029 9,650 5,995 3,655 7,15,804
April-2029 9,650 5,965 3,685 7,12,119
May-2029 9,650 5,934 3,716 7,08,403
June-2029 9,650 5,903 3,747 7,04,657
July-2029 9,650 5,872 3,778 7,00,878
August-2029 9,650 5,841 3,810 6,97,069
September-2029 9,650 5,809 3,841 6,93,228
October-2029 9,650 5,777 3,873 6,89,354
November-2029 9,650 5,745 3,906 6,85,449
  12 $ 1,15,803 $ 66,318 $ 49,485 $ 6,35,964
December-2029 9,650 5,712 3,938 6,81,511
January-2030 9,650 5,679 3,971 6,77,540
February-2030 9,650 5,646 4,004 6,73,535
March-2030 9,650 5,613 4,037 6,69,498
April-2030 9,650 5,579 4,071 6,65,427
May-2030 9,650 5,545 4,105 6,61,322
June-2030 9,650 5,511 4,139 6,57,183
July-2030 9,650 5,477 4,174 6,53,009
August-2030 9,650 5,442 4,208 6,48,801
September-2030 9,650 5,407 4,244 6,44,557
October-2030 9,650 5,371 4,279 6,40,278
November-2030 9,650 5,336 4,315 6,35,964
  13 $ 1,15,803 $ 61,136 $ 54,667 $ 5,81,297
December-2030 9,650 5,300 4,351 6,31,613
January-2031 9,650 5,263 4,387 6,27,226
February-2031 9,650 5,227 4,423 6,22,803
March-2031 9,650 5,190 4,460 6,18,343
April-2031 9,650 5,153 4,497 6,13,845
May-2031 9,650 5,115 4,535 6,09,311
June-2031 9,650 5,078 4,573 6,04,738
July-2031 9,650 5,039 4,611 6,00,127
August-2031 9,650 5,001 4,649 5,95,478
September-2031 9,650 4,962 4,688 5,90,790
October-2031 9,650 4,923 4,727 5,86,063
November-2031 9,650 4,884 4,766 5,81,297
  14 $ 1,15,803 $ 55,412 $ 60,391 $ 5,20,906
December-2031 9,650 4,844 4,806 5,76,491
January-2032 9,650 4,804 4,846 5,71,645
February-2032 9,650 4,764 4,887 5,66,758
March-2032 9,650 4,723 4,927 5,61,831
April-2032 9,650 4,682 4,968 5,56,863
May-2032 9,650 4,641 5,010 5,51,853
June-2032 9,650 4,599 5,051 5,46,802
July-2032 9,650 4,557 5,094 5,41,708
August-2032 9,650 4,514 5,136 5,36,572
September-2032 9,650 4,471 5,179 5,31,393
October-2032 9,650 4,428 5,222 5,26,171
November-2032 9,650 4,385 5,265 5,20,906
  15 $ 1,15,803 $ 49,088 $ 66,715 $ 4,54,191
December-2032 9,650 4,341 5,309 5,15,596
January-2033 9,650 4,297 5,354 5,10,243
February-2033 9,650 4,252 5,398 5,04,845
March-2033 9,650 4,207 5,443 4,99,402
April-2033 9,650 4,162 5,489 4,93,913
May-2033 9,650 4,116 5,534 4,88,379
June-2033 9,650 4,070 5,580 4,82,798
July-2033 9,650 4,023 5,627 4,77,171
August-2033 9,650 3,976 5,674 4,71,498
September-2033 9,650 3,929 5,721 4,65,777
October-2033 9,650 3,881 5,769 4,60,008
November-2033 9,650 3,833 5,817 4,54,191
  16 $ 1,15,803 $ 42,102 $ 73,701 $ 3,80,490
December-2033 9,650 3,785 5,865 4,48,326
January-2034 9,650 3,736 5,914 4,42,412
February-2034 9,650 3,687 5,963 4,36,448
March-2034 9,650 3,637 6,013 4,30,435
April-2034 9,650 3,587 6,063 4,24,372
May-2034 9,650 3,536 6,114 4,18,258
June-2034 9,650 3,485 6,165 4,12,093
July-2034 9,650 3,434 6,216 4,05,877
August-2034 9,650 3,382 6,268 3,99,609
September-2034 9,650 3,330 6,320 3,93,289
October-2034 9,650 3,277 6,373 3,86,916
November-2034 9,650 3,224 6,426 3,80,490
  17 $ 1,15,803 $ 34,384 $ 81,418 $ 2,99,072
December-2034 9,650 3,171 6,479 3,74,011
January-2035 9,650 3,117 6,533 3,67,477
February-2035 9,650 3,062 6,588 3,60,889
March-2035 9,650 3,007 6,643 3,54,247
April-2035 9,650 2,952 6,698 3,47,548
May-2035 9,650 2,896 6,754 3,40,795
June-2035 9,650 2,840 6,810 3,33,984
July-2035 9,650 2,783 6,867 3,27,117
August-2035 9,650 2,726 6,924 3,20,193
September-2035 9,650 2,668 6,982 3,13,211
October-2035 9,650 2,610 7,040 3,06,171
November-2035 9,650 2,551 7,099 2,99,072
  18 $ 1,15,803 $ 25,859 $ 89,944 $ 2,09,128
December-2035 9,650 2,492 7,158 2,91,914
January-2036 9,650 2,433 7,218 2,84,697
February-2036 9,650 2,372 7,278 2,77,419
March-2036 9,650 2,312 7,338 2,70,080
April-2036 9,650 2,251 7,400 2,62,681
May-2036 9,650 2,189 7,461 2,55,220
June-2036 9,650 2,127 7,523 2,47,696
July-2036 9,650 2,064 7,586 2,40,110
August-2036 9,650 2,001 7,649 2,32,461
September-2036 9,650 1,937 7,713 2,24,748
October-2036 9,650 1,873 7,777 2,16,971
November-2036 9,650 1,808 7,842 2,09,128
  19 $ 1,15,803 $ 16,441 $ 99,362 $ 1,09,766
December-2036 9,650 1,743 7,907 2,01,221
January-2037 9,650 1,677 7,973 1,93,248
February-2037 9,650 1,610 8,040 1,85,208
March-2037 9,650 1,543 8,107 1,77,101
April-2037 9,650 1,476 8,174 1,68,927
May-2037 9,650 1,408 8,242 1,60,684
June-2037 9,650 1,339 8,311 1,52,373
July-2037 9,650 1,270 8,380 1,43,992
August-2037 9,650 1,200 8,450 1,35,542
September-2037 9,650 1,130 8,521 1,27,021
October-2037 9,650 1,059 8,592 1,18,430
November-2037 9,650 987 8,663 1,09,766
  20 $ 1,15,803 $ 6,036 $ 1,09,766 $ 0
December-2037 9,650 915 8,735 1,01,031
January-2038 9,650 842 8,808 92,223
February-2038 9,650 769 8,882 83,341
March-2038 9,650 695 8,956 74,385
April-2038 9,650 620 9,030 65,355
May-2038 9,650 545 9,106 56,249
June-2038 9,650 469 9,181 47,068
July-2038 9,650 392 9,258 37,810
August-2038 9,650 315 9,335 28,475
September-2038 9,650 237 9,413 19,062
October-2038 9,650 159 9,491 9,570
November-2038 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.