EMI Calculator
Calculate loan EMI, total interest and a full amortisation schedule.
21,696
Monthly EMI
2,706,939
Total interest
5,206,939
Total payable
Yearly amortisation
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 49,756 | 210,591 | 2,450,244 |
| 2 | 54,154 | 206,193 | 2,396,091 |
| 3 | 58,940 | 201,407 | 2,337,150 |
| 4 | 64,150 | 196,197 | 2,273,000 |
| 5 | 69,820 | 190,527 | 2,203,180 |
| 6 | 75,992 | 184,355 | 2,127,188 |
| 7 | 82,709 | 177,638 | 2,044,479 |
| 8 | 90,020 | 170,327 | 1,954,459 |
| 9 | 97,977 | 162,370 | 1,856,482 |
| 10 | 106,637 | 153,710 | 1,749,846 |
| 11 | 116,063 | 144,284 | 1,633,783 |
| 12 | 126,321 | 134,026 | 1,507,462 |
| 13 | 137,487 | 122,860 | 1,369,974 |
| 14 | 149,640 | 110,707 | 1,220,335 |
| 15 | 162,866 | 97,480 | 1,057,468 |
| 16 | 177,262 | 83,085 | 880,206 |
| 17 | 192,931 | 67,416 | 687,275 |
| 18 | 209,984 | 50,363 | 477,291 |
| 19 | 228,545 | 31,802 | 248,746 |
| 20 | 248,746 | 11,601 | 0 |
About EMI Calculator
An equated monthly instalment keeps your payment constant across the loan while the split between interest and principal shifts steadily towards principal.
This calculator gives you the monthly instalment, the total interest paid over the term and a year-by-year amortisation schedule, so you can see exactly what a longer tenure or a slightly better rate is worth.
The EMI formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Frequently asked questions
What formula is used?
The standard annuity formula: P times r times (1+r)^n divided by ((1+r)^n minus 1), where r is the monthly rate and n the number of months.
Why does early EMI go mostly to interest?
Interest is charged on the outstanding balance, which is highest at the start. The principal share grows every month as the balance falls.
Does this include fees or insurance?
No. It calculates the pure loan repayment. Processing fees, insurance and taxes are additional.