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EMI Calculator

This free EMI calculator gives your exact monthly EMI, total interest and a full month-by-month amortization schedule for any home, car or personal loan. Change any number and the results update instantly — everything runs in your browser, even offline.

  • Nothing you type leaves this page
  • Works offline once loaded
  • Free forever, no signup
Tenure

Extra paid every month on top of the EMI — it goes straight to principal and closes the loan early.

Amortization schedule

Year Principal paid Interest paid Total paid Balance
{{ row.year }} {{ inr(row.principal) }} {{ inr(row.interest) }} {{ inr(row.paid) }} {{ inr(row.closing) }}
Month Opening Payment Principal Interest Closing
{{ row.m }} {{ inr(row.opening) }} {{ inr(row.emi) }} {{ inr(row.principal) }} {{ inr(row.interest) }} {{ inr(row.closing) }}

How to use this tool

  1. Enter loan amount, rate and tenure

    Type the loan amount, annual interest rate and tenure in years or months — sensible defaults are pre-filled so you see a live example.

  2. Read your EMI instantly

    The monthly EMI, total interest, total payment and the principal-vs-interest split update as you type — no submit button.

  3. Check the schedule and prepayment savings

    Scroll the year-wise amortization table (switch to month-by-month if you want), add a monthly prepayment to see interest saved, and download the schedule as CSV.

Questions people ask

How is EMI calculated?

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months. This is the same reducing-balance formula Indian banks use.

What is the EMI for a ₹10 lakh loan at 9% for 10 years?

About ₹12,668 per month. Over 120 months you pay roughly ₹15.2 lakh in total, of which about ₹5.2 lakh is interest — the default example in this calculator shows the exact split.

Is EMI calculated on reducing balance?

Yes — each month interest is charged only on the outstanding principal, and the rest of your EMI repays principal. That is why the interest column shrinks and the principal column grows through the schedule. Flat-rate quotes, common for two-wheeler and consumer loans, work out much costlier than the same number quoted on reducing balance.

Does a monthly prepayment reduce EMI or tenure?

In this calculator the extra amount goes straight to principal each month while the EMI stays the same, so the loan closes early — the reduce-tenure option, which saves the most interest. The savings banner shows exactly how much interest you avoid and how many months earlier you finish.

Can I download the amortization schedule?

Yes — the Download CSV button saves the full month-by-month schedule, generated entirely in your browser, ready to open in Excel or Google Sheets. Nothing is uploaded anywhere.

Is my loan data private?

Completely. The calculation runs on your device, no numbers are sent to any server, and the page keeps working offline once loaded.

Related tools

Free because it costs us nothing to run: your browser does the work, not our servers. Made by Dynamb Technologies — we build software for businesses.