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