Free Online Loan EMI Calculator with Amortization Schedule
Plan your finances better with our accurate EMI calculator. Specifically tuned for Indian banks and financial institutions.
Payment Breakdown
Principal vs Interest
- Principal₹ 5,00,000
- Interest₹ 1,30,055.8
- 20.6% of total payment is interest · 79.4% principal
- Total payment: ₹ 6,30,055.8
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹ 10,500.93 | ₹ 6,542.6 | ₹ 3,958.33 | ₹ 4,93,457.4 |
| 2 | ₹ 10,500.93 | ₹ 6,594.39 | ₹ 3,906.54 | ₹ 4,86,863.01 |
| 3 | ₹ 10,500.93 | ₹ 6,646.6 | ₹ 3,854.33 | ₹ 4,80,216.41 |
| 4 | ₹ 10,500.93 | ₹ 6,699.22 | ₹ 3,801.71 | ₹ 4,73,517.19 |
| 5 | ₹ 10,500.93 | ₹ 6,752.25 | ₹ 3,748.68 | ₹ 4,66,764.94 |
| 6 | ₹ 10,500.93 | ₹ 6,805.71 | ₹ 3,695.22 | ₹ 4,59,959.23 |
| 7 | ₹ 10,500.93 | ₹ 6,859.59 | ₹ 3,641.34 | ₹ 4,53,099.64 |
| 8 | ₹ 10,500.93 | ₹ 6,913.89 | ₹ 3,587.04 | ₹ 4,46,185.75 |
| 9 | ₹ 10,500.93 | ₹ 6,968.63 | ₹ 3,532.3 | ₹ 4,39,217.12 |
| 10 | ₹ 10,500.93 | ₹ 7,023.79 | ₹ 3,477.14 | ₹ 4,32,193.33 |
| 11 | ₹ 10,500.93 | ₹ 7,079.4 | ₹ 3,421.53 | ₹ 4,25,113.93 |
| 12 | ₹ 10,500.93 | ₹ 7,135.44 | ₹ 3,365.49 | ₹ 4,17,978.49 |
What is the EMI Calculator?
An Equated Monthly Installment (EMI) calculator is a specialized utility that helps you determine the fixed monthly amount payable to a lender until the loan is fully paid off. Our tool provides a comprehensive breakdown of principal and interest components, helping you visualize your debt reduction journey.
How to Use the EMI Calculator
- Enter the Principal Loan Amount you wish to borrow.
- Input the Annual Interest Rate offered by your bank.
- Select the Loan Tenure in years.
- Instantly view your Monthly EMI, Total Interest, and Total Payment.
- Review the Amortization Schedule to see your month-on-month balance reduction.
How It Works (Formula/Logic)
EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
Examples
Home Loan Calculation
For a ₹50,00,000 home loan at 8.5% interest for 20 years, your EMI would be approximately ₹43,391. The total interest payable over the tenure would be around ₹54,13,840.
Car Loan Calculation
A car loan of ₹5,00,000 at 9.5% for 5 years results in an EMI of ₹10,501, with total interest of ₹1,30,060.
Benefits List
- Accurate financial planning for big-ticket purchases.
- Compare different loan offers by varying rates and tenures.
- Visual breakdown of principal vs interest.
- Detailed amortization schedule for tracking monthly progress.
Frequently Asked Questions
What is an EMI?↓
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
How is EMI calculated?↓
EMI is calculated using the principal amount, interest rate, and loan tenure. Our calculator uses the standard reducing balance method.