Flat Rate EMI Calculator

For a loan tenure of 3 years with flat interest rate of 12.00% , the total interest amount is ₹36,000 .

Loan Parameters

Loan Amount ₹

Loan Term years

Flat Interest Rate %

Loan Term = 3 Years

Flat Interest Rate - 12.00%

Total Interest = ₹ 36,000

Total Repayment = ₹ 136,000

Repayment Table

Year

Total Payment

Interest

Principal

₹ 45,333

₹ 12,000

₹ 33,333

January-2021	3,778	1,000	2,778
February-2021	3,778	1,000	2,778
March-2021	3,778	1,000	2,778
April-2021	3,778	1,000	2,778
May-2021	3,778	1,000	2,778
June-2021	3,778	1,000	2,778
July-2021	3,778	1,000	2,778
August-2021	3,778	1,000	2,778
September-2021	3,778	1,000	2,778
October-2021	3,778	1,000	2,778
November-2021	3,778	1,000	2,778
December-2021	3,778	1,000	2,778

₹ 45,333

₹ 12,000

₹ 33,333

January-2022	3,778	1,000	2,778
February-2022	3,778	1,000	2,778
March-2022	3,778	1,000	2,778
April-2022	3,778	1,000	2,778
May-2022	3,778	1,000	2,778
June-2022	3,778	1,000	2,778
July-2022	3,778	1,000	2,778
August-2022	3,778	1,000	2,778
September-2022	3,778	1,000	2,778
October-2022	3,778	1,000	2,778
November-2022	3,778	1,000	2,778
December-2022	3,778	1,000	2,778

₹ 45,333

₹ 12,000

₹ 33,333

January-2023	3,778	1,000	2,778
February-2023	3,778	1,000	2,778
March-2023	3,778	1,000	2,778
April-2023	3,778	1,000	2,778
May-2023	3,778	1,000	2,778
June-2023	3,778	1,000	2,778
July-2023	3,778	1,000	2,778
August-2023	3,778	1,000	2,778
September-2023	3,778	1,000	2,778
October-2023	3,778	1,000	2,778
November-2023	3,778	1,000	2,778
December-2023	3,778	1,000	2,778

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 %

EMI Calculator

Calculate EMI (Equated Monthly Installment) for a fixed rate loan spanned across years with annual and monthly amortization tables.

Loan Amount ₹

Loan Term years

Interest 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 %

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 %