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 = 11-November-2038

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
December-2018 9,984 8,750 1,234 9,98,766
January-2019 9,984 8,739 1,245 9,97,522
February-2019 9,984 8,728 1,255 9,96,266
March-2019 9,984 8,717 1,266 9,95,000
April-2019 9,984 8,706 1,278 9,93,722
May-2019 9,984 8,695 1,289 9,92,433
June-2019 9,984 8,684 1,300 9,91,133
July-2019 9,984 8,672 1,311 9,89,822
August-2019 9,984 8,661 1,323 9,88,499
September-2019 9,984 8,649 1,334 9,87,165
October-2019 9,984 8,638 1,346 9,85,819
November-2019 9,984 8,626 1,358 9,84,461
  2 $ 1,19,806 $ 1,02,554 $ 17,252 $ 9,67,209
December-2019 9,984 8,614 1,370 9,83,091
January-2020 9,984 8,602 1,382 9,81,709
February-2020 9,984 8,590 1,394 9,80,315
March-2020 9,984 8,578 1,406 9,78,909
April-2020 9,984 8,565 1,418 9,77,491
May-2020 9,984 8,553 1,431 9,76,060
June-2020 9,984 8,541 1,443 9,74,617
July-2020 9,984 8,528 1,456 9,73,161
August-2020 9,984 8,515 1,469 9,71,692
September-2020 9,984 8,502 1,481 9,70,211
October-2020 9,984 8,489 1,494 9,68,716
November-2020 9,984 8,476 1,508 9,67,209
  3 $ 1,19,806 $ 1,00,653 $ 19,153 $ 9,48,056
December-2020 9,984 8,463 1,521 9,65,688
January-2021 9,984 8,450 1,534 9,64,154
February-2021 9,984 8,436 1,547 9,62,607
March-2021 9,984 8,423 1,561 9,61,046
April-2021 9,984 8,409 1,575 9,59,471
May-2021 9,984 8,395 1,588 9,57,883
June-2021 9,984 8,381 1,602 9,56,280
July-2021 9,984 8,367 1,616 9,54,664
August-2021 9,984 8,353 1,630 9,53,033
September-2021 9,984 8,339 1,645 9,51,389
October-2021 9,984 8,325 1,659 9,49,730
November-2021 9,984 8,310 1,674 9,48,056
  4 $ 1,19,806 $ 98,542 $ 21,264 $ 9,26,792
December-2021 9,984 8,295 1,688 9,46,368
January-2022 9,984 8,281 1,703 9,44,665
February-2022 9,984 8,266 1,718 9,42,947
March-2022 9,984 8,251 1,733 9,41,214
April-2022 9,984 8,236 1,748 9,39,465
May-2022 9,984 8,220 1,763 9,37,702
June-2022 9,984 8,205 1,779 9,35,923
July-2022 9,984 8,189 1,794 9,34,128
August-2022 9,984 8,174 1,810 9,32,318
September-2022 9,984 8,158 1,826 9,30,492
October-2022 9,984 8,142 1,842 9,28,650
November-2022 9,984 8,126 1,858 9,26,792
  5 $ 1,19,806 $ 96,199 $ 23,607 $ 9,03,185
December-2022 9,984 8,109 1,874 9,24,918
January-2023 9,984 8,093 1,891 9,23,027
February-2023 9,984 8,076 1,907 9,21,120
March-2023 9,984 8,060 1,924 9,19,196
April-2023 9,984 8,043 1,941 9,17,255
May-2023 9,984 8,026 1,958 9,15,297
June-2023 9,984 8,009 1,975 9,13,322
July-2023 9,984 7,992 1,992 9,11,330
August-2023 9,984 7,974 2,010 9,09,320
September-2023 9,984 7,957 2,027 9,07,293
October-2023 9,984 7,939 2,045 9,05,248
November-2023 9,984 7,921 2,063 9,03,185
  6 $ 1,19,806 $ 93,597 $ 26,209 $ 8,76,977
December-2023 9,984 7,903 2,081 9,01,104
January-2024 9,984 7,885 2,099 8,99,005
February-2024 9,984 7,866 2,118 8,96,888
March-2024 9,984 7,848 2,136 8,94,752
April-2024 9,984 7,829 2,155 8,92,597
May-2024 9,984 7,810 2,174 8,90,423
June-2024 9,984 7,791 2,193 8,88,231
July-2024 9,984 7,772 2,212 8,86,019
August-2024 9,984 7,753 2,231 8,83,788
September-2024 9,984 7,733 2,251 8,81,537
October-2024 9,984 7,713 2,270 8,79,267
November-2024 9,984 7,694 2,290 8,76,977
  7 $ 1,19,806 $ 90,709 $ 29,097 $ 8,47,880
December-2024 9,984 7,674 2,310 8,74,666
January-2025 9,984 7,653 2,330 8,72,336
February-2025 9,984 7,633 2,351 8,69,985
March-2025 9,984 7,612 2,371 8,67,613
April-2025 9,984 7,592 2,392 8,65,221
May-2025 9,984 7,571 2,413 8,62,808
June-2025 9,984 7,550 2,434 8,60,374
July-2025 9,984 7,528 2,456 8,57,918
August-2025 9,984 7,507 2,477 8,55,441
September-2025 9,984 7,485 2,499 8,52,943
October-2025 9,984 7,463 2,521 8,50,422
November-2025 9,984 7,441 2,543 8,47,880
  8 $ 1,19,806 $ 87,502 $ 32,303 $ 8,15,576
December-2025 9,984 7,419 2,565 8,45,315
January-2026 9,984 7,397 2,587 8,42,727
February-2026 9,984 7,374 2,610 8,40,118
March-2026 9,984 7,351 2,633 8,37,485
April-2026 9,984 7,328 2,656 8,34,829
May-2026 9,984 7,305 2,679 8,32,150
June-2026 9,984 7,281 2,702 8,29,447
July-2026 9,984 7,258 2,726 8,26,721
August-2026 9,984 7,234 2,750 8,23,971
September-2026 9,984 7,210 2,774 8,21,197
October-2026 9,984 7,185 2,798 8,18,399
November-2026 9,984 7,161 2,823 8,15,576
  9 $ 1,19,806 $ 83,942 $ 35,863 $ 7,79,713
December-2026 9,984 7,136 2,848 8,12,729
January-2027 9,984 7,111 2,872 8,09,856
February-2027 9,984 7,086 2,898 8,06,959
March-2027 9,984 7,061 2,923 8,04,036
April-2027 9,984 7,035 2,948 8,01,087
May-2027 9,984 7,010 2,974 7,98,113
June-2027 9,984 6,983 3,000 7,95,113
July-2027 9,984 6,957 3,027 7,92,086
August-2027 9,984 6,931 3,053 7,89,033
September-2027 9,984 6,904 3,080 7,85,953
October-2027 9,984 6,877 3,107 7,82,847
November-2027 9,984 6,850 3,134 7,79,713
  10 $ 1,19,806 $ 79,990 $ 39,816 $ 7,39,897
December-2027 9,984 6,822 3,161 7,76,551
January-2028 9,984 6,795 3,189 7,73,362
February-2028 9,984 6,767 3,217 7,70,145
March-2028 9,984 6,739 3,245 7,66,900
April-2028 9,984 6,710 3,273 7,63,627
May-2028 9,984 6,682 3,302 7,60,325
June-2028 9,984 6,653 3,331 7,56,994
July-2028 9,984 6,624 3,360 7,53,634
August-2028 9,984 6,594 3,390 7,50,244
September-2028 9,984 6,565 3,419 7,46,825
October-2028 9,984 6,535 3,449 7,43,376
November-2028 9,984 6,505 3,479 7,39,897
  11 $ 1,19,806 $ 75,602 $ 44,204 $ 6,95,693
December-2028 9,984 6,474 3,510 7,36,387
January-2029 9,984 6,443 3,540 7,32,847
February-2029 9,984 6,412 3,571 7,29,275
March-2029 9,984 6,381 3,603 7,25,673
April-2029 9,984 6,350 3,634 7,22,039
May-2029 9,984 6,318 3,666 7,18,373
June-2029 9,984 6,286 3,698 7,14,675
July-2029 9,984 6,253 3,730 7,10,944
August-2029 9,984 6,221 3,763 7,07,181
September-2029 9,984 6,188 3,796 7,03,385
October-2029 9,984 6,155 3,829 6,99,556
November-2029 9,984 6,121 3,863 6,95,693
  12 $ 1,19,806 $ 70,731 $ 49,075 $ 6,46,618
December-2029 9,984 6,087 3,896 6,91,797
January-2030 9,984 6,053 3,931 6,87,866
February-2030 9,984 6,019 3,965 6,83,901
March-2030 9,984 5,984 4,000 6,79,902
April-2030 9,984 5,949 4,035 6,75,867
May-2030 9,984 5,914 4,070 6,71,797
June-2030 9,984 5,878 4,106 6,67,691
July-2030 9,984 5,842 4,141 6,63,550
August-2030 9,984 5,806 4,178 6,59,372
September-2030 9,984 5,770 4,214 6,55,158
October-2030 9,984 5,733 4,251 6,50,907
November-2030 9,984 5,695 4,288 6,46,618
  13 $ 1,19,806 $ 65,322 $ 54,483 $ 5,92,135
December-2030 9,984 5,658 4,326 6,42,293
January-2031 9,984 5,620 4,364 6,37,929
February-2031 9,984 5,582 4,402 6,33,527
March-2031 9,984 5,543 4,440 6,29,086
April-2031 9,984 5,505 4,479 6,24,607
May-2031 9,984 5,465 4,518 6,20,089
June-2031 9,984 5,426 4,558 6,15,531
July-2031 9,984 5,386 4,598 6,10,933
August-2031 9,984 5,346 4,638 6,06,295
September-2031 9,984 5,305 4,679 6,01,616
October-2031 9,984 5,264 4,720 5,96,896
November-2031 9,984 5,223 4,761 5,92,135
  14 $ 1,19,806 $ 59,318 $ 60,487 $ 5,31,648
December-2031 9,984 5,181 4,803 5,87,333
January-2032 9,984 5,139 4,845 5,82,488
February-2032 9,984 5,097 4,887 5,77,601
March-2032 9,984 5,054 4,930 5,72,671
April-2032 9,984 5,011 4,973 5,67,698
May-2032 9,984 4,967 5,016 5,62,682
June-2032 9,984 4,923 5,060 5,57,621
July-2032 9,984 4,879 5,105 5,52,517
August-2032 9,984 4,835 5,149 5,47,368
September-2032 9,984 4,789 5,194 5,42,173
October-2032 9,984 4,744 5,240 5,36,933
November-2032 9,984 4,698 5,286 5,31,648
  15 $ 1,19,806 $ 52,652 $ 67,153 $ 4,64,495
December-2032 9,984 4,652 5,332 5,26,316
January-2033 9,984 4,605 5,379 5,20,937
February-2033 9,984 4,558 5,426 5,15,512
March-2033 9,984 4,511 5,473 5,10,039
April-2033 9,984 4,463 5,521 5,04,518
May-2033 9,984 4,415 5,569 4,98,949
June-2033 9,984 4,366 5,618 4,93,331
July-2033 9,984 4,317 5,667 4,87,663
August-2033 9,984 4,267 5,717 4,81,947
September-2033 9,984 4,217 5,767 4,76,180
October-2033 9,984 4,167 5,817 4,70,363
November-2033 9,984 4,116 5,868 4,64,495
  16 $ 1,19,806 $ 45,252 $ 74,554 $ 3,89,941
December-2033 9,984 4,064 5,919 4,58,575
January-2034 9,984 4,013 5,971 4,52,604
February-2034 9,984 3,960 6,024 4,46,580
March-2034 9,984 3,908 6,076 4,40,504
April-2034 9,984 3,854 6,129 4,34,375
May-2034 9,984 3,801 6,183 4,28,192
June-2034 9,984 3,747 6,237 4,21,955
July-2034 9,984 3,692 6,292 4,15,663
August-2034 9,984 3,637 6,347 4,09,316
September-2034 9,984 3,582 6,402 4,02,914
October-2034 9,984 3,525 6,458 3,96,455
November-2034 9,984 3,469 6,515 3,89,941
  17 $ 1,19,806 $ 37,036 $ 82,770 $ 3,07,171
December-2034 9,984 3,412 6,572 3,83,369
January-2035 9,984 3,354 6,629 3,76,740
February-2035 9,984 3,296 6,687 3,70,052
March-2035 9,984 3,238 6,746 3,63,306
April-2035 9,984 3,179 6,805 3,56,501
May-2035 9,984 3,119 6,864 3,49,637
June-2035 9,984 3,059 6,924 3,42,713
July-2035 9,984 2,999 6,985 3,35,728
August-2035 9,984 2,938 7,046 3,28,681
September-2035 9,984 2,876 7,108 3,21,574
October-2035 9,984 2,814 7,170 3,14,403
November-2035 9,984 2,751 7,233 3,07,171
  18 $ 1,19,806 $ 27,914 $ 91,891 $ 2,15,279
December-2035 9,984 2,688 7,296 2,99,875
January-2036 9,984 2,624 7,360 2,92,515
February-2036 9,984 2,560 7,424 2,85,090
March-2036 9,984 2,495 7,489 2,77,601
April-2036 9,984 2,429 7,555 2,70,046
May-2036 9,984 2,363 7,621 2,62,426
June-2036 9,984 2,296 7,688 2,54,738
July-2036 9,984 2,229 7,755 2,46,983
August-2036 9,984 2,161 7,823 2,39,160
September-2036 9,984 2,093 7,891 2,31,269
October-2036 9,984 2,024 7,960 2,23,309
November-2036 9,984 1,954 8,030 2,15,279
  19 $ 1,19,806 $ 17,787 $ 1,02,018 $ 1,13,261
December-2036 9,984 1,884 8,100 2,07,179
January-2037 9,984 1,813 8,171 1,99,008
February-2037 9,984 1,741 8,242 1,90,766
March-2037 9,984 1,669 8,315 1,82,451
April-2037 9,984 1,596 8,387 1,74,064
May-2037 9,984 1,523 8,461 1,65,603
June-2037 9,984 1,449 8,535 1,57,068
July-2037 9,984 1,374 8,609 1,48,459
August-2037 9,984 1,299 8,685 1,39,774
September-2037 9,984 1,223 8,761 1,31,013
October-2037 9,984 1,146 8,837 1,22,176
November-2037 9,984 1,069 8,915 1,13,261
  20 $ 1,19,806 $ 6,545 $ 1,13,261 $ -0
December-2037 9,984 991 8,993 1,04,268
January-2038 9,984 912 9,071 95,197
February-2038 9,984 833 9,151 86,046
March-2038 9,984 753 9,231 76,815
April-2038 9,984 672 9,312 67,503
May-2038 9,984 591 9,393 58,110
June-2038 9,984 508 9,475 48,635
July-2038 9,984 426 9,558 39,077
August-2038 9,984 342 9,642 29,435
September-2038 9,984 258 9,726 19,709
October-2038 9,984 172 9,811 9,897
November-2038 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.