EMI Calculator
Calculate equated monthly installments on a loan.
Remaining balance over time
How to use it
- 1Enter the loan amount, currency, annual interest rate, and tenure in months.
- 2Optionally add an extra monthly payment to see how much sooner you'd be debt-free.
- 3Read your EMI, total interest, the principal/interest split, and the remaining-balance chart over time.
Example
A ₹500,000 loan at 9% annual interest over 60 months has an EMI of about ₹10,379/month, with the balance chart showing how much faster it pays down in the later years. Add just ₹5,000 extra per month and the same loan is paid off 22 months early, saving roughly ₹47,000 in interest.
How it works
EMI (Equated Monthly Installment) uses the same fixed-rate amortization formula as any other loan — the payment amount stays constant, but each month a growing share goes toward principal and a shrinking share toward interest, which is why the remaining balance curves downward instead of falling in a straight line. If you add an extra monthly payment, that amount goes straight to principal on top of the scheduled payment, which is simulated month by month to work out your new payoff date and interest total.