Loan EMI Calculator
Work out the monthly instalment for any home, car or personal loan, see how much of it is interest, and get a full amortization schedule you can download as CSV.
- Monthly EMI & total interest
- Full amortization schedule
- CSV download
Loan details
Enter your loan
Formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
r = annual rate ÷ 12 ÷ 100, n = number of months. At 0% interest, EMI = P ÷ n.
Live results
Monthly EMI
$8,791.59
for 12 months
Total interest
$5,499.06
Total payment
$105,499.06
Principal vs interest
Amortization schedule
Year-by-year breakdown
Open a year to see each monthly payment.
Year 1months 1–12Principal $100,000.00Interest $5,499.06Balance $0.00
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $8,791.59 | $7,958.26 | $833.33 | $92,041.74 |
| 2 | $8,791.59 | $8,024.57 | $767.01 | $84,017.17 |
| 3 | $8,791.59 | $8,091.45 | $700.14 | $75,925.72 |
| 4 | $8,791.59 | $8,158.87 | $632.71 | $67,766.85 |
| 5 | $8,791.59 | $8,226.86 | $564.72 | $59,539.99 |
| 6 | $8,791.59 | $8,295.42 | $496.17 | $51,244.56 |
| 7 | $8,791.59 | $8,364.55 | $427.04 | $42,880.01 |
| 8 | $8,791.59 | $8,434.26 | $357.33 | $34,445.76 |
| 9 | $8,791.59 | $8,504.54 | $287.05 | $25,941.22 |
| 10 | $8,791.59 | $8,575.41 | $216.18 | $17,365.80 |
| 11 | $8,791.59 | $8,646.87 | $144.72 | $8,718.93 |
| 12 | $8,791.59 | $8,718.93 | $72.66 | $0.00 |
How it works
How to Use the EMI Calculator
- 1
Pick a currency
Choose the currency for display. It only changes formatting; the maths is the same.
- 2
Enter the loan details
Type the loan amount, the annual interest rate and the tenure in months or years.
- 3
Read your EMI
The monthly EMI, total interest, total payment and the principal-vs-interest bar update as you type.
- 4
Check the schedule
Open any year to see each month's payment split, or download the full schedule as CSV.
The EMI Formula Explained
Banks use the standard reducing-balance formula. Each month, interest is charged on whatever principal is still outstanding, and the fixed EMI is sized so that the balance reaches exactly zero after the last payment.
- P: the loan amount (principal)
- r: monthly interest rate = annual rate ÷ 12 ÷ 100 (10% a year → 0.008333)
- n: number of monthly payments (5 years → 60)
Total payment is EMI × n, and total interest is total payment minus the principal. For each row of the schedule, interest = balance × r and principal repaid = EMI − interest.
Worked Examples
| Loan | Rate | Tenure | EMI | Total interest |
|---|---|---|---|---|
| 100,000 | 10% | 12 months | 8,791.59 | 5,499.06 |
| 200,000 | 6% | 30 years | 1,199.10 | 231,676.38 |
| 500,000 | 8.5% | 5 years | 10,258.27 | 115,495.94 |
| 12,000 | 0% | 12 months | 1,000.00 | 0.00 |
Notice how the 30-year loan pays more in interest than it borrowed: a longer tenure lowers the EMI but raises the total cost.
Common Use Cases
Home loans
Compare a 15-year and a 30-year mortgage to see the trade-off between EMI and total interest.
Car and personal loans
Check whether a monthly instalment fits your budget before you sign.
Business loans
Plan cash flow with the exact principal and interest due each month.
Comparing offers
Enter two lenders' rates to see how much a lower rate saves over the full tenure.
Frequently Asked Questions
What is an EMI?
EMI stands for equated monthly instalment: the fixed amount you pay the lender every month until the loan is repaid. Each EMI covers that month's interest, and the rest reduces the outstanding principal.
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. For example, 100,000 at 10% a year for 12 months gives an EMI of about 8,791.59.
What happens if the interest rate is 0%?
The formula above cannot be used when the rate is zero, so the calculator divides the loan amount equally across the months instead (EMI = P ÷ n). Total interest is then zero.
Why is more of my early EMI going to interest?
Interest is charged on the outstanding balance. At the start the balance is highest, so the interest part is largest; as you repay principal, the interest part shrinks and more of each EMI goes towards the principal. The amortization schedule shows this month by month.
Does this calculator include fees, insurance or prepayments?
No. It assumes a fixed annual interest rate, equal monthly payments and no processing fees, insurance, taxes or prepayments. Your lender's figures can differ slightly because of rounding rules or extra charges.
Can I export the amortization schedule?
Yes. Use the Download CSV button to save every monthly payment, principal, interest and remaining balance as a CSV file that opens in Excel, Google Sheets or Numbers.
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