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EMI (Equated Monthly Installment) is the fixed monthly payment used to repay personal, auto and home loans in India: the amount stays constant over the whole tenure, only the split between interest and principal shifts - early on interest dominates the high outstanding balance, later the principal share grows. From the loan amount, interest rate and tenure, this calculator works out the EMI, the total interest over the tenure and the full amortization schedule.
The calculation runs entirely locally in your browser, in pure JavaScript - nothing is uploaded or stored. It uses the standard annuity formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), with r the monthly rate and n the number of monthly instalments. Change the amount, rate or tenure and the EMI, total interest, total payment, chart and amortization schedule update instantly.
An honest note: this is a model-based estimate for a given interest rate and fixed tenure, not financial advice and not a binding loan offer. Processing fees, a floating rate that changes during the tenure, prepayment or a moratorium are not modelled - your actual offer from a bank or NBFC may differ.
Specifications
Specifications
Input formats
Form inputs (no file)
Processing
Locally in your browser (JavaScript)
File upload
None
In 3 steps
Enter the loan amount, annual interest rate and tenure in years.
The calculation runs automatically, locally in the browser.
Read off the EMI, total interest, total payment and the year-by-year amortization schedule.
Limitations: A model-based estimate using the standard EMI formula for a GIVEN interest rate and fixed tenure. Not modelled: processing fees, a floating rate, prepayment, a moratorium. Not a binding loan offer and not financial advice - your actual offer from a bank or NBFC may differ.
FAQ
Is my loan amount uploaded?
No. The calculation runs entirely locally in your browser (pure JavaScript); nothing is sent or stored.
Which formula does the calculator use?
The standard annuity formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), with r the monthly rate (annual rate divided by 12 and 100) and n the number of monthly instalments (tenure in years times 12).
Are processing fees included?
No, deliberately not - banks and NBFCs charge different fees. The EMI itself shows only interest and principal.
Can my real EMI change later?
Yes, with a floating rate the bank may adjust the EMI or the tenure when the rate changes - this calculator assumes a constant rate over the whole tenure.
Does this also work offline?
Yes. After the first load, the calculation works entirely without an internet connection.