Loan details
Illustrative reducing-balance estimate. Fees, insurance and floating rates are not included.
Lump-sum prepayment
See how a one-off extra payment changes interest and tenure, keeping either the EMI or the remaining term the same.
Amortisation schedule
Expand a year to see the month-by-month split of principal, interest and remaining balance.
The page solves the standard reducing-balance EMI for a principal, annual percentage rate, and tenure in years. A donut, year-by-year amortisation (expand a year for months), optional custom EMI (back-solved tenure), and a one-off prepayment comparison all run in the browser.
The equation behind the hero number
Monthly rate r is annual rate ÷ 12 ÷ 100. With principal P and n months, EMI = P × r × (1+r)^n / ((1+r)^n − 1). A 0% rate is treated as P / n. Display values are rounded; the amortisation loop uses the same EMI against remaining balance each month.
Worked numbers (this page’s formula)
₹1,00,000 at 10.5% a year for 24 months.
P = 100000 r = 10.5 / 12 / 100 n = 24
EMI ≈ ₹4,638 Total paid ≈ ₹1,11,303 Interest ≈ ₹11,303
Controls that exist on this screen
- Amount ₹1,000–₹2 crore, rate 1–30%, tenure 1–40 years (sliders plus typed fields).
- Set my own EMI solves months from desired instalment; if the EMI is not above
P × rthe tenure cannot be computed. - Prepay: month of extra payment, amount, then either keep EMI / shorten tenure or keep tenure / lower EMI.
What a bank printout will still disagree on
- Processing fee, insurance, GST on charges, foreclosure penalties.
- Floating resets. This schedule never changes the rate mid-loan.
- Day-count conventions and their rounding of the last instalment.
Processing
All arithmetic stays in the tab. Nothing is posted to our servers.
Loan maths questions
How is EMI calculated?
The standard reducing-balance formula is used: the principal multiplied by the monthly rate multiplied by (1 plus the monthly rate) raised to the number of months, divided by (1 plus the monthly rate) raised to the number of months minus one. The monthly rate is the annual rate divided by twelve.
Why is most of my early EMI going to interest?
Interest is charged on the outstanding balance, which is at its highest at the start. As the balance falls, the interest portion of each instalment shrinks and the principal portion grows, even though the EMI itself stays the same.
Should I reduce my tenure or my EMI when I prepay?
Keeping the same EMI and shortening the tenure saves more interest because you finish sooner. Reducing the EMI over the same tenure frees up monthly cash flow but saves less overall. The calculator shows both so you can compare the totals.
Does this include processing fees or insurance?
No. The calculation covers principal and interest only. Processing fees, documentation charges, insurance, GST on charges and any prepayment penalty are not included, so your real cost of borrowing will be slightly higher.
Will my bank statement match this exactly?
It will be very close but may differ by small amounts. Lenders apply their own rounding and day-count conventions, and the schedule here assumes your interest rate stays fixed for the whole tenure.
Is my data sent anywhere?
No. The entire calculation runs in your browser and nothing you enter is transmitted or stored.
Other rupee calculators
GST on a fee is a different problem from EMI; SIP projects investments, not debt: GST Calculator, SIP Calculator, FD/RD Calculator. Browse the full Finance & Date set or the all tools hub.