EMI Calculator

Calculate reducing-balance loan payments, total interest and a monthly amortization schedule with a downloadable CSV.

This is a repayment estimate, not a loan offer. Processing charges, insurance, taxes and rate changes are excluded.

Monthly EMI₹8,884.88

Principal₹1,00,000.00

Total interest₹6,618.53

Total repayment₹1,06,618.53

Final payment₹8,884.85

Number of payments12

Calculation explanation

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), with r = annual rate ÷ 1200

EMI and each month's interest are rounded to two decimals. The last payment clears the remaining balance; very small loans can finish early. Totals are the sum of this schedule, excluding fees and taxes.

Principal versus interest

Dark: principal · Light: interest

Monthly amortization schedule

First 12 payments (or fewer for shorter loans); amounts in INR
Month	Opening balance	Payment	Principal	Interest	Closing balance
1	₹1,00,000.00	₹8,884.88	₹7,884.88	₹1,000.00	₹92,115.12
2	₹92,115.12	₹8,884.88	₹7,963.73	₹921.15	₹84,151.39
3	₹84,151.39	₹8,884.88	₹8,043.37	₹841.51	₹76,108.02
4	₹76,108.02	₹8,884.88	₹8,123.80	₹761.08	₹67,984.22
5	₹67,984.22	₹8,884.88	₹8,205.04	₹679.84	₹59,779.18
6	₹59,779.18	₹8,884.88	₹8,287.09	₹597.79	₹51,492.09
7	₹51,492.09	₹8,884.88	₹8,369.96	₹514.92	₹43,122.13
8	₹43,122.13	₹8,884.88	₹8,453.66	₹431.22	₹34,668.47
9	₹34,668.47	₹8,884.88	₹8,538.20	₹346.68	₹26,130.27
10	₹26,130.27	₹8,884.88	₹8,623.58	₹261.30	₹17,506.69
11	₹17,506.69	₹8,884.88	₹8,709.81	₹175.07	₹8,796.88
12	₹8,796.88	₹8,884.85	₹8,796.88	₹87.97	₹0.00

How to use EMI Calculator

Compare a loan's monthly commitment with its full repayment cost. The reducing-balance schedule charges interest on the unpaid principal, so the interest portion normally falls as the loan is repaid.

Enter the loan principal, annual interest rate and tenure in months or years.
Compare the monthly payment and total interest; a zero rate divides principal across the repayment months.
Expand the repayment table or download its CSV to inspect each monthly balance.

Formulas and assumptions

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where r = annual percentage rate / 1200 and n is the number of months.
At zero interest: EMI = P / n. Monthly principal = payment − monthly interest.

Fixed rate, monthly payments in arrears, no payment holidays or prepayments. Tenure must equal 1–600 whole months.
Payments and monthly interest round to cents. The final payment is adjusted to clear the balance; this can differ from a lender's daily-interest or rounding policy.

Practical examples

One-year personal loan

Input: 100,000 at 12% annually for 12 months
Result: Monthly EMI: ₹8,884.88; Total interest: ₹6,618.53

A fixed EMI contains progressively less interest as principal falls.

Interest-free installment plan

Input: 1,200 over 12 months at 0%
Result: Monthly EMI: ₹100.00; Total repayment: ₹1,200.00

With no interest or fees, the installments divide the purchase amount equally.

Single-month bridge loan

Input: 1,000 at 12% annually for one month
Result: Monthly EMI: ₹1,010.00; Total interest: ₹10.00

One month's interest is 1% of the opening principal.

Frequently asked questions

What loan calculation method does this EMI calculator use?

This tool uses the standard reducing-balance monthly amortization formula used by banks and lending institutions. Interest is computed each month on the remaining unpaid principal balance, so as principal is paid down, the monthly interest portion decreases while the principal portion increases.

Does this EMI estimate include loan processing fees, insurance, or taxes?

No. The calculator computes the pure interest and principal repayment schedule. One-time lender processing fees, mortgage insurance premiums, statutory stamp duty, and loan documentation taxes are separate charges and do not change contractual EMI unless capitalized into the loan principal.

How does choosing a longer loan tenure affect total interest paid?

A longer repayment tenure reduces your monthly EMI payment, easing short-term budget pressure, but significantly increases the cumulative total interest paid over the life of the loan. Review the generated monthly schedule to examine the cumulative interest comparison.