EMI Calculator

Calculate your Equated Monthly Installment (EMI) for home loans, car loans, or personal loans. View amortization schedules, compare loan offers, and see how prepayments reduce your interest burden.

Loan Amount ($)

Annual Interest Rate (%)

Loan Tenure

Monthly EMI

$4,339.12

Principal

$500,000.00

Total Interest

$541,387.88

Total Payment

$1,041,387.88

Principal vs Interest

PrincipalInterest

Principal vs Interest Over Time

PrincipalInterest

Year-by-Year Amortization Schedule (20 years)

Year	Principal Paid	Interest Paid	Total Paid	Balance
1	$9,951.15	$42,118.25	$52,069.39	$490,048.85
2	$10,830.74	$41,238.66	$52,069.39	$479,218.12
3	$11,788.08	$40,281.32	$52,069.39	$467,430.04
4	$12,830.03	$39,239.36	$52,069.39	$454,600.01
5	$13,964.09	$38,105.30	$52,069.39	$440,635.92
6	$15,198.39	$36,871.00	$52,069.39	$425,437.52
7	$16,541.79	$35,527.60	$52,069.39	$408,895.73
8	$18,003.93	$34,065.46	$52,069.39	$390,891.80
9	$19,595.32	$32,474.08	$52,069.39	$371,296.48
10	$21,327.37	$30,742.03	$52,069.39	$349,969.11
11	$23,212.51	$28,856.88	$52,069.39	$326,756.60
12	$25,264.29	$26,805.11	$52,069.39	$301,492.32
13	$27,497.42	$24,571.97	$52,069.39	$273,994.90
14	$29,927.94	$22,141.45	$52,069.39	$244,066.95
15	$32,573.30	$19,496.09	$52,069.39	$211,493.65
16	$35,452.48	$16,616.91	$52,069.39	$176,041.17
17	$38,586.16	$13,483.23	$52,069.39	$137,455.01
18	$41,996.83	$10,072.57	$52,069.39	$95,458.18
19	$45,708.96	$6,360.43	$52,069.39	$49,749.22
20	$49,749.22	$2,320.17	$52,069.39	$0.00

Month-by-Month Payment Schedule (240 payments)

Month	EMI	Principal	Interest	Balance
1	$4,339.12	$797.45	$3,541.67	$499,202.55
2	$4,339.12	$803.10	$3,536.02	$498,399.45
3	$4,339.12	$808.79	$3,530.33	$497,590.67
4	$4,339.12	$814.52	$3,524.60	$496,776.15
5	$4,339.12	$820.29	$3,518.83	$495,955.86
6	$4,339.12	$826.10	$3,513.02	$495,129.77
7	$4,339.12	$831.95	$3,507.17	$494,297.82
8	$4,339.12	$837.84	$3,501.28	$493,459.98
9	$4,339.12	$843.77	$3,495.34	$492,616.21
10	$4,339.12	$849.75	$3,489.36	$491,766.46
11	$4,339.12	$855.77	$3,483.35	$490,910.69
12	$4,339.12	$861.83	$3,477.28	$490,048.85
13	$4,339.12	$867.94	$3,471.18	$489,180.92
14	$4,339.12	$874.08	$3,465.03	$488,306.83
15	$4,339.12	$880.28	$3,458.84	$487,426.56
16	$4,339.12	$886.51	$3,452.60	$486,540.05
17	$4,339.12	$892.79	$3,446.33	$485,647.25
18	$4,339.12	$899.11	$3,440.00	$484,748.14
19	$4,339.12	$905.48	$3,433.63	$483,842.66
20	$4,339.12	$911.90	$3,427.22	$482,930.76
21	$4,339.12	$918.36	$3,420.76	$482,012.40
22	$4,339.12	$924.86	$3,414.25	$481,087.54
23	$4,339.12	$931.41	$3,407.70	$480,156.13
24	$4,339.12	$938.01	$3,401.11	$479,218.12
25	$4,339.12	$944.65	$3,394.46	$478,273.46
26	$4,339.12	$951.35	$3,387.77	$477,322.12
27	$4,339.12	$958.08	$3,381.03	$476,364.03
28	$4,339.12	$964.87	$3,374.25	$475,399.16
29	$4,339.12	$971.71	$3,367.41	$474,427.46
30	$4,339.12	$978.59	$3,360.53	$473,448.87
31	$4,339.12	$985.52	$3,353.60	$472,463.35
32	$4,339.12	$992.50	$3,346.62	$471,470.85
33	$4,339.12	$999.53	$3,339.59	$470,471.32
34	$4,339.12	$1,006.61	$3,332.51	$469,464.70
35	$4,339.12	$1,013.74	$3,325.37	$468,450.96
36	$4,339.12	$1,020.92	$3,318.19	$467,430.04
37	$4,339.12	$1,028.15	$3,310.96	$466,401.89
38	$4,339.12	$1,035.44	$3,303.68	$465,366.45
39	$4,339.12	$1,042.77	$3,296.35	$464,323.68
40	$4,339.12	$1,050.16	$3,288.96	$463,273.53
41	$4,339.12	$1,057.60	$3,281.52	$462,215.93
42	$4,339.12	$1,065.09	$3,274.03	$461,150.84
43	$4,339.12	$1,072.63	$3,266.49	$460,078.21
44	$4,339.12	$1,080.23	$3,258.89	$458,997.98
45	$4,339.12	$1,087.88	$3,251.24	$457,910.10
46	$4,339.12	$1,095.59	$3,243.53	$456,814.52
47	$4,339.12	$1,103.35	$3,235.77	$455,711.17
48	$4,339.12	$1,111.16	$3,227.95	$454,600.01
49	$4,339.12	$1,119.03	$3,220.08	$453,480.98
50	$4,339.12	$1,126.96	$3,212.16	$452,354.02
51	$4,339.12	$1,134.94	$3,204.17	$451,219.07
52	$4,339.12	$1,142.98	$3,196.14	$450,076.09
53	$4,339.12	$1,151.08	$3,188.04	$448,925.02
54	$4,339.12	$1,159.23	$3,179.89	$447,765.79
55	$4,339.12	$1,167.44	$3,171.67	$446,598.34
56	$4,339.12	$1,175.71	$3,163.40	$445,422.63
57	$4,339.12	$1,184.04	$3,155.08	$444,238.59
58	$4,339.12	$1,192.43	$3,146.69	$443,046.17
59	$4,339.12	$1,200.87	$3,138.24	$441,845.29
60	$4,339.12	$1,209.38	$3,129.74	$440,635.92
61	$4,339.12	$1,217.95	$3,121.17	$439,417.97
62	$4,339.12	$1,226.57	$3,112.54	$438,191.40
63	$4,339.12	$1,235.26	$3,103.86	$436,956.14
64	$4,339.12	$1,244.01	$3,095.11	$435,712.13
65	$4,339.12	$1,252.82	$3,086.29	$434,459.31
66	$4,339.12	$1,261.70	$3,077.42	$433,197.61
67	$4,339.12	$1,270.63	$3,068.48	$431,926.98
68	$4,339.12	$1,279.63	$3,059.48	$430,647.34
69	$4,339.12	$1,288.70	$3,050.42	$429,358.65
70	$4,339.12	$1,297.83	$3,041.29	$428,060.82
71	$4,339.12	$1,307.02	$3,032.10	$426,753.80
72	$4,339.12	$1,316.28	$3,022.84	$425,437.52
73	$4,339.12	$1,325.60	$3,013.52	$424,111.92
74	$4,339.12	$1,334.99	$3,004.13	$422,776.93
75	$4,339.12	$1,344.45	$2,994.67	$421,432.49
76	$4,339.12	$1,353.97	$2,985.15	$420,078.52
77	$4,339.12	$1,363.56	$2,975.56	$418,714.96
78	$4,339.12	$1,373.22	$2,965.90	$417,341.74
79	$4,339.12	$1,382.95	$2,956.17	$415,958.79
80	$4,339.12	$1,392.74	$2,946.37	$414,566.05
81	$4,339.12	$1,402.61	$2,936.51	$413,163.45
82	$4,339.12	$1,412.54	$2,926.57	$411,750.90
83	$4,339.12	$1,422.55	$2,916.57	$410,328.36
84	$4,339.12	$1,432.62	$2,906.49	$408,895.73
85	$4,339.12	$1,442.77	$2,896.34	$407,452.96
86	$4,339.12	$1,452.99	$2,886.13	$405,999.97
87	$4,339.12	$1,463.28	$2,875.83	$404,536.69
88	$4,339.12	$1,473.65	$2,865.47	$403,063.04
89	$4,339.12	$1,484.09	$2,855.03	$401,578.95
90	$4,339.12	$1,494.60	$2,844.52	$400,084.36
91	$4,339.12	$1,505.19	$2,833.93	$398,579.17
92	$4,339.12	$1,515.85	$2,823.27	$397,063.32
93	$4,339.12	$1,526.58	$2,812.53	$395,536.74
94	$4,339.12	$1,537.40	$2,801.72	$393,999.34
95	$4,339.12	$1,548.29	$2,790.83	$392,451.05
96	$4,339.12	$1,559.25	$2,779.86	$390,891.80
97	$4,339.12	$1,570.30	$2,768.82	$389,321.50
98	$4,339.12	$1,581.42	$2,757.69	$387,740.08
99	$4,339.12	$1,592.62	$2,746.49	$386,147.45
100	$4,339.12	$1,603.91	$2,735.21	$384,543.55
101	$4,339.12	$1,615.27	$2,723.85	$382,928.28
102	$4,339.12	$1,626.71	$2,712.41	$381,301.58
103	$4,339.12	$1,638.23	$2,700.89	$379,663.35
104	$4,339.12	$1,649.83	$2,689.28	$378,013.51
105	$4,339.12	$1,661.52	$2,677.60	$376,351.99
106	$4,339.12	$1,673.29	$2,665.83	$374,678.70
107	$4,339.12	$1,685.14	$2,653.97	$372,993.56
108	$4,339.12	$1,697.08	$2,642.04	$371,296.48
109	$4,339.12	$1,709.10	$2,630.02	$369,587.38
110	$4,339.12	$1,721.21	$2,617.91	$367,866.18
111	$4,339.12	$1,733.40	$2,605.72	$366,132.78
112	$4,339.12	$1,745.68	$2,593.44	$364,387.10
113	$4,339.12	$1,758.04	$2,581.08	$362,629.06
114	$4,339.12	$1,770.49	$2,568.62	$360,858.57
115	$4,339.12	$1,783.03	$2,556.08	$359,075.53
116	$4,339.12	$1,795.66	$2,543.45	$357,279.87
117	$4,339.12	$1,808.38	$2,530.73	$355,471.49
118	$4,339.12	$1,821.19	$2,517.92	$353,650.29
119	$4,339.12	$1,834.09	$2,505.02	$351,816.20
120	$4,339.12	$1,847.08	$2,492.03	$349,969.11
121	$4,339.12	$1,860.17	$2,478.95	$348,108.95
122	$4,339.12	$1,873.34	$2,465.77	$346,235.60
123	$4,339.12	$1,886.61	$2,452.50	$344,348.99
124	$4,339.12	$1,899.98	$2,439.14	$342,449.01
125	$4,339.12	$1,913.44	$2,425.68	$340,535.57
126	$4,339.12	$1,926.99	$2,412.13	$338,608.58
127	$4,339.12	$1,940.64	$2,398.48	$336,667.95
128	$4,339.12	$1,954.38	$2,384.73	$334,713.56
129	$4,339.12	$1,968.23	$2,370.89	$332,745.33
130	$4,339.12	$1,982.17	$2,356.95	$330,763.16
131	$4,339.12	$1,996.21	$2,342.91	$328,766.95
132	$4,339.12	$2,010.35	$2,328.77	$326,756.60
133	$4,339.12	$2,024.59	$2,314.53	$324,732.01
134	$4,339.12	$2,038.93	$2,300.19	$322,693.08
135	$4,339.12	$2,053.37	$2,285.74	$320,639.71
136	$4,339.12	$2,067.92	$2,271.20	$318,571.79
137	$4,339.12	$2,082.57	$2,256.55	$316,489.22
138	$4,339.12	$2,097.32	$2,241.80	$314,391.91
139	$4,339.12	$2,112.17	$2,226.94	$312,279.73
140	$4,339.12	$2,127.13	$2,211.98	$310,152.60
141	$4,339.12	$2,142.20	$2,196.91	$308,010.40
142	$4,339.12	$2,157.38	$2,181.74	$305,853.02
143	$4,339.12	$2,172.66	$2,166.46	$303,680.36
144	$4,339.12	$2,188.05	$2,151.07	$301,492.32
145	$4,339.12	$2,203.55	$2,135.57	$299,288.77
146	$4,339.12	$2,219.15	$2,119.96	$297,069.62
147	$4,339.12	$2,234.87	$2,104.24	$294,834.74
148	$4,339.12	$2,250.70	$2,088.41	$292,584.04
149	$4,339.12	$2,266.65	$2,072.47	$290,317.39
150	$4,339.12	$2,282.70	$2,056.41	$288,034.69
151	$4,339.12	$2,298.87	$2,040.25	$285,735.82
152	$4,339.12	$2,315.15	$2,023.96	$283,420.67
153	$4,339.12	$2,331.55	$2,007.56	$281,089.11
154	$4,339.12	$2,348.07	$1,991.05	$278,741.05
155	$4,339.12	$2,364.70	$1,974.42	$276,376.35
156	$4,339.12	$2,381.45	$1,957.67	$273,994.90
157	$4,339.12	$2,398.32	$1,940.80	$271,596.58
158	$4,339.12	$2,415.31	$1,923.81	$269,181.27
159	$4,339.12	$2,432.42	$1,906.70	$266,748.85
160	$4,339.12	$2,449.65	$1,889.47	$264,299.21
161	$4,339.12	$2,467.00	$1,872.12	$261,832.21
162	$4,339.12	$2,484.47	$1,854.64	$259,347.74
163	$4,339.12	$2,502.07	$1,837.05	$256,845.67
164	$4,339.12	$2,519.79	$1,819.32	$254,325.88
165	$4,339.12	$2,537.64	$1,801.47	$251,788.24
166	$4,339.12	$2,555.62	$1,783.50	$249,232.62
167	$4,339.12	$2,573.72	$1,765.40	$246,658.90
168	$4,339.12	$2,591.95	$1,747.17	$244,066.95
169	$4,339.12	$2,610.31	$1,728.81	$241,456.64
170	$4,339.12	$2,628.80	$1,710.32	$238,827.85
171	$4,339.12	$2,647.42	$1,691.70	$236,180.43
172	$4,339.12	$2,666.17	$1,672.94	$233,514.26
173	$4,339.12	$2,685.06	$1,654.06	$230,829.20
174	$4,339.12	$2,704.08	$1,635.04	$228,125.12
175	$4,339.12	$2,723.23	$1,615.89	$225,401.89
176	$4,339.12	$2,742.52	$1,596.60	$222,659.37
177	$4,339.12	$2,761.95	$1,577.17	$219,897.43
178	$4,339.12	$2,781.51	$1,557.61	$217,115.92
179	$4,339.12	$2,801.21	$1,537.90	$214,314.71
180	$4,339.12	$2,821.05	$1,518.06	$211,493.65
181	$4,339.12	$2,841.04	$1,498.08	$208,652.62
182	$4,339.12	$2,861.16	$1,477.96	$205,791.46
183	$4,339.12	$2,881.43	$1,457.69	$202,910.03
184	$4,339.12	$2,901.84	$1,437.28	$200,008.19
185	$4,339.12	$2,922.39	$1,416.72	$197,085.80
186	$4,339.12	$2,943.09	$1,396.02	$194,142.71
187	$4,339.12	$2,963.94	$1,375.18	$191,178.77
188	$4,339.12	$2,984.93	$1,354.18	$188,193.84
189	$4,339.12	$3,006.08	$1,333.04	$185,187.76
190	$4,339.12	$3,027.37	$1,311.75	$182,160.39
191	$4,339.12	$3,048.81	$1,290.30	$179,111.58
192	$4,339.12	$3,070.41	$1,268.71	$176,041.17
193	$4,339.12	$3,092.16	$1,246.96	$172,949.01
194	$4,339.12	$3,114.06	$1,225.06	$169,834.95
195	$4,339.12	$3,136.12	$1,203.00	$166,698.83
196	$4,339.12	$3,158.33	$1,180.78	$163,540.50
197	$4,339.12	$3,180.70	$1,158.41	$160,359.80
198	$4,339.12	$3,203.23	$1,135.88	$157,156.56
199	$4,339.12	$3,225.92	$1,113.19	$153,930.64
200	$4,339.12	$3,248.77	$1,090.34	$150,681.86
201	$4,339.12	$3,271.79	$1,067.33	$147,410.08
202	$4,339.12	$3,294.96	$1,044.15	$144,115.12
203	$4,339.12	$3,318.30	$1,020.82	$140,796.82
204	$4,339.12	$3,341.81	$997.31	$137,455.01
205	$4,339.12	$3,365.48	$973.64	$134,089.53
206	$4,339.12	$3,389.32	$949.80	$130,700.22
207	$4,339.12	$3,413.32	$925.79	$127,286.90
208	$4,339.12	$3,437.50	$901.62	$123,849.39
209	$4,339.12	$3,461.85	$877.27	$120,387.54
210	$4,339.12	$3,486.37	$852.75	$116,901.17
211	$4,339.12	$3,511.07	$828.05	$113,390.11
212	$4,339.12	$3,535.94	$803.18	$109,854.17
213	$4,339.12	$3,560.98	$778.13	$106,293.19
214	$4,339.12	$3,586.21	$752.91	$102,706.98
215	$4,339.12	$3,611.61	$727.51	$99,095.37
216	$4,339.12	$3,637.19	$701.93	$95,458.18
217	$4,339.12	$3,662.95	$676.16	$91,795.23
218	$4,339.12	$3,688.90	$650.22	$88,106.33
219	$4,339.12	$3,715.03	$624.09	$84,391.30
220	$4,339.12	$3,741.34	$597.77	$80,649.96
221	$4,339.12	$3,767.85	$571.27	$76,882.11
222	$4,339.12	$3,794.53	$544.58	$73,087.58
223	$4,339.12	$3,821.41	$517.70	$69,266.16
224	$4,339.12	$3,848.48	$490.64	$65,417.68
225	$4,339.12	$3,875.74	$463.38	$61,541.94
226	$4,339.12	$3,903.19	$435.92	$57,638.75
227	$4,339.12	$3,930.84	$408.27	$53,707.91
228	$4,339.12	$3,958.69	$380.43	$49,749.22
229	$4,339.12	$3,986.73	$352.39	$45,762.49
230	$4,339.12	$4,014.97	$324.15	$41,747.53
231	$4,339.12	$4,043.40	$295.71	$37,704.12
232	$4,339.12	$4,072.05	$267.07	$33,632.08
233	$4,339.12	$4,100.89	$238.23	$29,531.19
234	$4,339.12	$4,129.94	$209.18	$25,401.25
235	$4,339.12	$4,159.19	$179.93	$21,242.06
236	$4,339.12	$4,188.65	$150.46	$17,053.41
237	$4,339.12	$4,218.32	$120.79	$12,835.09
238	$4,339.12	$4,248.20	$90.92	$8,586.89
239	$4,339.12	$4,278.29	$60.82	$4,308.60
240	$4,339.12	$4,308.60	$30.52	$0.00

How to Use the EMI Calculator

Enter your loan amount, annual interest rate, and loan tenure to instantly see your monthly EMI, total interest payable, and total payment amount. The donut chart shows the principal-to-interest ratio, while the bar chart visualizes how your payments are split year by year.

Prepayment Strategy

Switch to the Prepayment tab to model extra monthly payments or a one-time lump sum. The calculator shows how many months you save and how much interest you avoid. Even an extra $200/month on a $500,000 loan at 8.5% over 20 years can save you years of payments and tens of thousands in interest.

Comparing Loan Offers

Use the Compare tab to evaluate up to three loan offers. Enter different amounts, rates, and tenures to see a side-by-side breakdown. The lowest EMI is not always the best deal — pay attention to total interest and total payment to find the most cost-effective loan.

Frequently Asked Questions

What is EMI and how is it calculated?+

EMI stands for Equated Monthly Installment. It is the fixed amount you pay every month to repay your loan. The formula is EMI = P x r x (1+r)^n / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly installments. This calculator computes EMI instantly for any loan amount, interest rate, and tenure.

How does prepayment affect my loan?+

Prepayment — whether as extra monthly payments or a one-time lump sum — goes directly toward reducing your outstanding principal. This lowers the interest charged in subsequent months, which can significantly reduce total interest paid and shorten your loan tenure. Even small additional monthly payments can save thousands over the life of a loan.

What is an amortization schedule?+

An amortization schedule is a table showing every payment over the life of a loan, broken down into principal and interest components. Early payments are mostly interest, while later payments are mostly principal. This calculator provides both a month-by-month and year-by-year amortization schedule so you can see exactly how your loan balance decreases over time.

Can I compare multiple loan offers with this calculator?+

Yes. The Loan Comparison tab lets you enter up to three different loan offers with varying amounts, interest rates, and tenures. The calculator shows EMI, total interest, and total payment for each offer side by side, making it easy to pick the most cost-effective option.

Does a longer tenure mean I pay more interest?+

Yes. A longer loan tenure lowers your monthly EMI, making it more affordable month-to-month, but you pay significantly more in total interest. For example, a $500,000 loan at 8.5% costs about $230,000 in interest over 15 years but over $420,000 over 30 years. Always weigh monthly affordability against total cost when choosing a tenure.

Is this EMI calculator accurate for all loan types?+

This calculator is accurate for any fixed-rate loan with equal monthly installments, including home loans, car loans, personal loans, and education loans. It does not account for variable interest rates, processing fees, or insurance premiums, which may affect your actual repayment amount.