EMI Calculator

Estimate monthly EMI, total interest, and the full repayment schedule across your selected loan tenure.

Enter values to generate results.

EMI Calculator with Amortization Schedule

An EMI calculator helps you estimate the fixed monthly installment needed to repay a loan over a selected tenure. It also shows how much of each payment goes to interest and how much reduces principal.

What this EMI calculator shows

The calculator shows the EMI amount, total repayment, total interest, and a month-wise amortization schedule.

That schedule helps borrowers understand how the interest portion is higher in the early months while the principal repayment gradually increases later.

Why amortization matters

Two loans may have similar monthly installments but very different total interest depending on rate and tenure.

Reviewing the amortization schedule helps compare loan options and understand the real cost of borrowing.

Formula for EMI Calculation

The standard EMI formula calculates a fixed monthly installment based on loan amount, monthly interest rate, and number of months.

EMI = P x i x (1 + i)^m / ((1 + i)^m - 1)

Where,

  • EMI = fixed monthly installment
  • P = loan principal
  • i = monthly interest rate
  • m = loan tenure in months

How the EMI schedule is calculated

  1. Calculate the fixed EMI using the standard loan formula.
  2. For each month, compute the interest on the current outstanding balance.
  3. Subtract that interest from the EMI to find the principal repaid in that month.
  4. Reduce the outstanding balance by the principal paid.
  5. Repeat until the loan balance reaches zero.

Examples

Example 1: Home loan EMI

Suppose you borrow 2,500,000 at 9% annual interest for 20 years.

  • Principal = 2,500,000
  • Monthly rate = 9% / 12
  • Tenure = 240 months
  • The EMI remains fixed each month, but the interest and principal split changes over time.
  • In the early months the interest part is larger because the outstanding balance is still high.

Frequently Asked Questions

What is an EMI calculator?

An EMI calculator estimates the monthly installment required to repay a loan based on the principal amount, interest rate, and loan tenure.

Does this EMI calculator show the amortization schedule?

Yes. It includes a detailed month-wise amortization table showing EMI, interest, principal paid, and closing balance.

Can I export the EMI schedule?

Yes. You can export the result to CSV, Excel, PDF, print, and shareable links.