Loan & EMI Calculator
Work out the EMI on a home, car or personal loan, the total interest, and how much prepaying saves. Yearly or monthly schedule, with CSV download.
Runs in your browser. Nothing is uploaded.
About the Loan & EMI Calculator
Before taking out a mortgage, car loan or personal loan, it helps to know what it really costs: the fixed amount you will pay each month (often called the EMI, or equated monthly instalment) and how much of your money goes on interest over the whole term.
This calculator uses the standard amortisation formula that banks use for fixed-rate loans: interest is charged each month on the remaining balance, and each payment covers that interest plus a growing share of the principal. The yearly schedule shows how the balance falls over time. Try different rates and terms to see the trade-off: a longer term lowers the monthly payment but usually adds a lot more interest in total.
How to use the Loan & EMI Calculator
- 1
Enter the amount you want to borrow, in any currency.
- 2
Enter the yearly interest rate and the term in years or months.
- 3
Read the monthly payment, total interest and total paid, and scroll the schedule to see the balance year by year.
- 4
Planning to prepay? Add an extra monthly amount, a yearly lump sum or a one-time payment, and choose whether to finish sooner or lower the EMI. The interest saved appears at once.
- 5
Switch the schedule to months for every EMI, or download it as a CSV file for Excel or Google Sheets.
Examples
200,000 at 6% for 30 yearsMonthly payment: 1,199.10
Total interest: 231,676.38
Total paid: 431,676.3815,000 at 9.5% for 36 monthsMonthly payment: 480.49
Total interest: 2,297.79
Total paid: 17,297.795,000,000 at 8.5% for 20 years, prepaying 100,000 every year, finish soonerEMI: 43,391.16
Paid off in: 14 years
Interest saved: 1,855,389.335,000,000 at 8.5% for 20 years, prepaying 500,000 in month 24, lower the EMIEMI: 43,391.16 → 38,863.87
Paid off in: 20 years
Interest saved: 477,894.05Good to know
- Assumes a fixed rate, monthly payments and interest charged monthly at the yearly rate ÷ 12. Variable rates, interest-only periods and balloon payments are not modelled.
- Fees, insurance, taxes and early repayment charges are not included, so the real cost of a loan may be higher. Lenders’ quoted APR includes some of these.
- Results are rounded to two decimal places; the final payment absorbs any rounding difference.
Frequently asked questions
What is an EMI?
An equated monthly instalment: the same payment every month for the whole term. Early payments are mostly interest; later ones are mostly principal.
How is the monthly payment calculated?
Payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly rate (yearly rate ÷ 12 ÷ 100) and n the number of months.
Should I use a prepayment to cut the tenure or the EMI?
Cutting the tenure saves more interest, because the balance falls faster while you keep paying the same EMI. Lowering the EMI frees up money each month but saves less. Try both in the calculator to see the difference for your loan.
Does a shorter term save money?
Usually, yes. The monthly payment is higher, but you pay interest for fewer months, so the total interest is lower.
Is anything I enter saved?
No. Calculations run on your device and nothing is stored or sent.
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