EMI Calculator — Monthly Payment & Repayment Cost
Calculate an equal monthly loan instalment and see where each payment goes. Compare a shorter and longer term, review total interest and entered upfront charges, or solve a loan amount, repayment period or implied interest rate.
A repayment illustration, not a loan quotation. The model uses one unchanged reducing-balance rate and regular monthly payments. Flat-rate offers, balloon payments, daily accrual and rate resets can produce different figures.
Calculate and Compare Your EMI
Start with the principal, reducing-balance rate and repayment months. Choose another mode when a different number is missing.
Understand the payment before comparing offers
An instalment is one part of the loan cost. Read it together with the interest breakdown, schedule and entered credit charges.
Monthly payment
Estimate the equal monthly amount needed to repay the entered principal.
Same loan, different term
Compare recalculated EMIs for nearby repayment periods.
Principal versus interest
See how the payment split changes as the loan balance falls.
A record of the assumptions
Keep a dated schedule and the model limits in TXT or CSV.
Home loan repayment schedule
Review monthly principal, interest and the outstanding loan balance throughout the selected term.
A repayment plan to retain
Download monthly and yearly tables for your loan repayment comparison.
Your loan repayment estimate
Loan principal
₹ 0
Total interest payable
₹ 0
Total payment (incl. fee)
₹ 0
Estimated Loan APR (%)
0%
This APR estimate uses monthly cash-flow IRR × 12 after deducting the entered upfront charges from proceeds. EMI covers principal and interest; charges appear separately. Later fees, irregular payment dates and changing rates are excluded. Nonpositive net proceeds or a numerical limit can make APR unavailable.
Select when your EMI payments will start
Read an EMI as two changing parts
The monthly amount can remain level while the interest share falls and the principal share rises.
The principal is what you repay
Each payment reduces the outstanding borrowing after that month’s interest is covered. If charges are financed into the loan, include them in principal once; do not also enter those same charges as an upfront fee.
Interest uses the remaining balance
In this model, monthly interest is the opening balance multiplied by annual rate ÷ 1200. It is not calculated on the original principal for every month, as a flat-rate quotation may be.
The last payment balances the account
Schedule calculations keep full precision internally. A final balancing payment clears the remaining principal, so the last instalment can differ slightly from the regular EMI shown.
Four questions about the same repayment model
The model stays consistent when you change which figure you want to solve.
Find the monthly EMI
Use a known loan amount, annual reducing-balance rate and number of repayments. Read the EMI alongside the full-term interest total.
How the calculation works
EMI = P × r ÷ [1 − (1+r)−n]. At 0% interest, EMI = P ÷ n. Here r is annual percentage ÷ 1200.
Find principal from a payment amount
Estimate how much principal a stated monthly instalment can repay at the selected rate and term. This does not calculate income eligibility or a sanctioned limit.
How the calculation works
P = EMI × [1 − (1+r)−n] ÷ r. At zero interest, P = EMI × n. Upfront charges do not increase this calculated principal.
Find months from a chosen payment
See how long a fixed monthly payment would take to clear the outstanding principal. It must exceed monthly interest at a positive rate.
How the calculation works
n = −ln(1 − P × r ÷ EMI) ÷ ln(1+r), with a balancing final payment. At zero interest use P ÷ EMI and round up to a whole repayment month.
Check an implied reducing-balance rate
Find the annual rate that matches a principal, EMI and term under the regular-payment model. An exact cash-flow match still does not establish the terms of a lender offer.
How the calculation works
The tool numerically solves the EMI equation within 0–100% annual interest. This is the interest rate implied by repayments; the separately displayed fee-adjusted APR can be higher.
Compare the monthly saving with the lifetime cost
The term-comparison table is a separate set of equal-payment scenarios, using the same amount and rate.
A lower EMI can mean more interest
A longer term spreads principal over more instalments. At a positive unchanged rate, that usually lowers the regular payment while keeping the balance outstanding for longer. Compare the total interest before treating the lower EMI as a cheaper loan.
A shorter term asks for more monthly cash
A shorter term generally raises the payment and reduces the interest period. Check whether you can maintain the payment alongside other obligations. The calculator does not assess your income, emergency reserve or credit profile.
Keep the instalment and the credit charges separate
An upfront credit charge affects the cash-flow cost without changing EMI in this model.
Enter charges according to how they are paid
Upfront processing, mandatory lender valuation/legal charges and tax on those charges can go in the upfront-charge field when applicable. A charge financed into principal belongs in principal instead. Do not enter it twice.
Read APR with its stated boundaries
Estimated APR uses net proceeds = principal − entered upfront charges. It solves the monthly cash-flow IRR against repayments and multiplies it by 12. It excludes later charges, irregular dates and changing rates; it is not a guarantee of the lender’s disclosed APR.
For the complete lender disclosure, compare its Key Facts Statement and repayment schedule. Purchase expenses unrelated to credit are outside this tool.
Honest by Design
Use the repayment estimate with the assumptions that make it possible.
What this calculator does
- Calculates EMI, loan principal, repayment months or an implied rate for regular monthly reducing-balance repayments.
- Separates principal, interest and entered upfront credit charges; shows an estimated fee-adjusted APR.
- Compares nearby repayment terms using the same principal and unchanged rate.
- Creates calendar-year and monthly schedules, TXT/CSV downloads and a short optional WhatsApp summary.
What it does not do
- Approve a loan, assess eligibility or recommend a lender or credit product.
- Model flat-rate interest, balloon payments, advance instalments, daily accrual or rate resets.
- Calculate prepayments, part-period interest, staged disbursements or interest-only periods.
- Automatically identify taxes, insurance or every charge in the lender’s agreement.
Assumptions and data handling
- The full principal is drawn before regular payments begin; payments start one month later in the cash-flow model.
- The chosen start month labels the schedule; it does not change interest accrual or APR by exact dates.
- Figures are processed locally by this fragment. Your WordPress site may separately use analytics; fonts and the chart script use external services.
- WhatsApp opens only when you choose Share; its summary does not include the full schedule.
Example: ₹5 lakh at 12% over 60 months
Illustrative inputs for checking the calculation, not a current lender quotation.
A regular EMI of approximately ₹11,122.22
For ₹5,00,000 principal, an illustrative 12% annual rate and 60 payments, total interest is approximately ₹1,67,333.43. Before upfront charges, loan repayments total approximately ₹6,67,333.43. Internal precision explains small differences from adding rounded displayed figures.
The first payment starts with ₹5,000 interest
At a 1% monthly rate, the first interest amount is ₹5,000. Roughly ₹6,122.22 of the first EMI reduces principal. Subsequent interest falls as the balance falls. Add ₹5,000 upfront charges to see why the estimated APR rises while EMI stays the same.
EMI calculator questions
Answers about the repayment model and the figures in your result.
Reading repayments
Does EMI mean the entire monthly cost of borrowing?
EMI is the regular principal-and-interest repayment in this model. Upfront credit charges appear separately. Insurance, later charges and other costs can add to your cash commitment; check the written agreement.
Why does the interest part of EMI change each month?
Monthly interest is calculated on the remaining loan balance. As principal is repaid, that balance falls. With a level EMI at a constant rate, less of later payments is interest and more repays principal.
Can I enter a zero interest rate?
Yes. With zero interest, a known principal is divided by the number of payments. Entered upfront charges can still create a positive estimated APR even when the interest rate is zero.
Why is the term-comparison EMI different from my chosen payment?
Each comparison row recalculates an equal EMI for that row’s term. In Repayment Period mode, the original payment you entered can produce a different final balancing instalment. The comparison is a fresh scenario, not the original schedule.
Is the estimated APR the same as the entered interest rate?
Without upfront charges it normally matches the nominal annual reducing-balance rate. Upfront charges reduce net proceeds and can raise the cash-flow APR. The tool includes only the charges entered here; use the lender’s KFS for its complete disclosure.
Model limits and records
Can I use this for a flat-rate loan offer?
Not directly. This tool uses monthly reducing-balance interest. A flat rate charges interest using a different basis. Do not enter a flat percentage and assume the resulting EMI or implied rate matches that offer.
Does the start month change the calculated EMI?
No. It labels monthly rows and groups the yearly totals by calendar year. The model does not accrue interest by exact days or adjust for a short first period.
Does this calculate the benefit of a prepayment?
No. It assumes regular monthly repayments and a balancing final instalment. The nearby-term comparison does not simulate a lump-sum prepayment, prepayment fees or a revised lender schedule.
Why is the supported term capped at 480 months?
The 480-month cap bounds the calculation and schedule size. It is a numerical safeguard, not a statement that a lender offers a 40-year loan or that such a term is suitable.
Where do the downloads and shared results go?
TXT and CSV files are created in your browser. They include the inputs, model limits and schedule. WhatsApp sharing opens a separate service with a short summary only when selected. This fragment does not upload the inputs to a calculation server.
Check the payment and the interest together
Run the numbers from a written offer, then compare the term and total repayment before deciding.