How is EMI calculated?

EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1], where P is principal, r is monthly interest rate (annual/12/100), and n is number of months.

What if my interest rate is 0%?

If r = 0, EMI = P ÷ n (principal divided by months).

Does the calculator store my data?

No. All calculations run in your browser. Nothing is uploaded.

Can I add a prepayment?

Yes. Add an optional one-time prepayment month and amount. The tool recomputes the schedule and payoff time.

EMI Calculator

Compute monthly EMI, total interest, and amortization. Add prepayment, compare two loans, export CSV, and share a permalink.

Loan Amount (₹)

Annual Interest (%)

Tenure

Optional Prepayment

Adds a one-time prepayment in the chosen month; schedule shortens if possible.

Compare with Another Loan

Leave blank if not comparing.

Monthly EMI-

Total Interest-

Total Payment-

Payoff Months-

About this EMI Calculator

This EMI calculator uses the standard reducing-balance formula to compute your monthly payment. Results are instant and calculated in your browser. Nothing is stored or uploaded.

📘 How to use

Enter loan amount (₹), annual interest (%), and tenure (months or years).
Click Calculate to see EMI, total interest, and total payment.
Optionally enter a prepayment month and amount to reduce total interest.
Use Compare fields to evaluate a second loan offer.
Export the full schedule as CSV or share a permalink.

❓ Formula

EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where:

P = Loan principal
r = Monthly rate = (annual% ÷ 12 ÷ 100)
n = Number of months

If r = 0, EMI = P ÷ n.

EMI Calculator

Inputs

Results

About this EMI Calculator