EMI Calculator
Calculate the monthly EMI, total interest and total payment for a loan using the reducing-balance method, with a month-by-month amortization schedule.
Reducing-balance method over 60 monthly payments. Amounts are rounded to the nearest rupee. This is an estimate: your lender's EMI can differ because of fees, rounding and how interest is charged.
Monthly EMI
₹10,258
Total Interest
₹1,15,496
Total Payment
₹6,15,496
About the EMI Calculator
Enter the loan amount, the annual interest rate and the tenure in months or years, and the calculator shows the equated monthly instalment (EMI), the total interest and the total amount you will repay. A bar shows how that total splits between principal and interest, and Show Amortization Schedule lists every month's payment divided into interest and principal, with the balance left after it.
It uses the standard reducing-balance formula, EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the annual rate divided by 12 and then by 100, and n is the number of monthly payments. Each month, interest is charged on the balance still outstanding and the rest of the EMI reduces the principal, which is why early EMIs are mostly interest and later ones mostly principal. At a 0% rate, the EMI is simply the loan amount divided by the number of months.
Example: ₹5,00,000 at 8.5% a year for 60 months gives an EMI of about ₹10,258, total interest of about ₹1,15,496 and a total payment of about ₹6,15,496. Stretch the same loan to 84 months and the EMI falls to about ₹7,918, but total interest rises to about ₹1,65,132. Treat the result as an estimate: your lender's EMI can differ because of processing fees, the date of the first EMI, rounding and the way interest is charged, so rely on the sanction letter or the lender's own schedule for exact figures. For other quick sums, the Percentage Calculator is a click away.
How to use the EMI Calculator
- 1
Enter the loan amount
Type the amount you plan to borrow, in rupees, into Loan Amount (₹).
- 2
Enter the interest rate
Type the annual rate your lender quotes, for example 8.5, into Interest Rate (% per year).
- 3
Set the tenure
Enter a number and choose Months or Years. The tenure is converted to whole months, up to 600 (50 years).
- 4
Review the results
Read the Monthly EMI, Total Interest and Total Payment, then click Show Amortization Schedule for the month-by-month breakdown.
What it can do
Reducing-balance EMI
Interest is charged each month on the balance still outstanding, the standard way an EMI is calculated.
Total interest and payment
See the full cost of the loan, with a bar showing the principal and interest shares as percentages.
Full amortization schedule
Every month's EMI, principal, interest and remaining balance, for the whole tenure.
Months or years
Enter the tenure either way; the number of monthly payments used is shown in the note under the inputs.
Indian number format
Amounts are shown in rupees with lakh and crore grouping, rounded to the nearest rupee.
Limitations
- Calculates reducing-balance loans only. Flat-rate loans, where interest is charged on the original amount for the whole term, cost more and are not covered.
- Doesn't include processing fees, insurance, prepayments, part-payments, floating-rate changes or interest for a broken first period.
- Amounts are rounded to the nearest rupee for display, and lenders may round differently.
- Results are always shown in rupees. The arithmetic works for any currency, but the symbol is fixed.
Privacy
The loan details you enter are calculated in your browser; nothing is sent to FlexyPdf's servers.
Frequently asked questions
How is the EMI calculated?
With EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. For 8.5% a year, r is 0.0070833.
Why is my bank's EMI slightly different?
Lenders may round the EMI up to the next rupee, charge extra interest for the days before the first EMI, add insurance or fees to the loan amount, or use a flat-rate method. Any of these changes the figure, so the lender's schedule is the one to rely on.
What is the difference between reducing-balance and flat-rate interest?
On a reducing balance, interest is charged only on what you still owe. On a flat rate, it is charged on the original amount for the whole term. ₹1,00,000 for 3 years at 10% costs about ₹16,162 in interest on a reducing balance (EMI about ₹3,227), but ₹30,000 at a 10% flat rate (EMI about ₹3,611). This calculator does the reducing-balance version.
How does a longer tenure change the total interest?
A longer tenure lowers the EMI but increases the total interest, because you owe money for longer. For ₹5,00,000 at 8.5%, 60 months costs about ₹1,15,496 in interest, while 120 months lowers the EMI to about ₹6,199 but raises the interest to about ₹2,43,914.
How do I see how much principal I will have repaid after a year?
Open the amortization schedule and find month 12. The Balance column shows what you still owe; the loan amount minus that balance is the principal repaid so far.
Ratings & Reviews
Rate EMI Calculator
Help others by sharing your experience. Your rating is shown without your name.
More Calculators
View all →BMI Calculator
Body mass index from height and weight, with WHO adult categories
Age Calculator
Exact age in years, months and days on any date
GST Calculator
Add or remove GST and see the CGST, SGST and IGST split
Percentage Calculator
Percent of a number, percentage change and increase or decrease