Loan EMI Calculator
Loan / EMI Calculator
Amortization Schedule
| # | Date | Opening | EMI | Extra | Interest | Principal | Closing |
|---|
Introduction
Managing a loan can often feel complicated, especially when it comes to calculating EMIs, interest, and repayment schedules. Our Loan / EMI Calculator is a powerful and user-friendly tool designed to make this process simple and transparent. With this calculator, you can easily estimate your monthly EMI, total interest payable, and overall repayment amount based on the loan amount, tenure, and interest rate you choose.
Unlike basic calculators, this advanced version comes with additional features such as processing fee calculation, extra monthly payments, and one-time prepayment options to see how much interest you can save. It also provides a detailed amortization schedule with month-by-month breakdown, which can be exported to CSV or printed for records.
Whether you are planning a home loan, personal loan, or car loan, this responsive calculator gives you clarity and control over your finances, helping you make smarter borrowing decisions.
What this calculator does
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Computes monthly EMI using the standard formula
EMI = P·r·(1+r)^N / ((1+r)^N − 1), where P = loan amount, r = monthly interest rate, N = number of months. -
Shows total interest, total payment, and processing fee.
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Supports extra monthly payment and one-time prepayment (reduces tenure while keeping EMI constant).
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Generates a month-wise amortization table with export (CSV) and print.
How to use (step-by-step)
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Choose Currency (₹/$/€/£) from the dropdown.
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Enter Loan Amount using the box or the slider.
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Set Interest Rate (Annual %)—type or slide.
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Set Tenure in months or switch to years; adjust with slider.
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(Optional) Add Processing Fee % to include up-front charges.
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(Optional) Enter an Extra Monthly Payment to speed up repayment.
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(Optional) Enter a One-time Prepayment and pick the Prepayment Month # (1 = first EMI).
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(Optional) Pick a Start Date to see calendar months in the schedule.
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Click Calculate to see EMI and summary; use Reset to clear inputs.
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Scroll to Amortization Schedule → set Rows per page, navigate with Prev/Next.
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Click Export CSV to download the schedule or Print to get a hard copy.
Tips
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Increasing Extra Monthly Payment or making an early Prepayment significantly cuts interest and shortens tenure.
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Use Rows per page for long tenures to navigate faster.
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Keep interest rate precise (e.g., 9.50%) for accurate results.
๐ What is EMI?
EMI (Equated Monthly Installment) is the fixed amount that a borrower pays every month to the lender until the loan is fully repaid. It includes both the principal amount and the interest. The formula used for EMI calculation is:
EMI = [P × r × (1+r)^N] / [(1+r)^N – 1]
Where:
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P = Loan Amount
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r = Monthly Interest Rate (Annual Interest ÷ 12 ÷ 100)
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N = Number of Months (Loan Tenure)
This tool automatically applies the formula to give you accurate EMI results.
๐ Why Use This EMI Calculator?
Manually calculating EMI can be confusing and time-consuming. This calculator makes it quick, accurate, and hassle-free. With advanced features like processing fee, extra EMI payments, and one-time prepayment, you can see how much interest you can save and how your loan duration changes. It’s responsive, professional, and completely free to use on any device.
๐ Types of Loans You Can Calculate
This calculator is flexible and works for different types of loans:
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Home Loan → Plan your housing finance better by knowing EMI and total cost.
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Car Loan → Estimate monthly payments before buying your dream vehicle.
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Personal Loan → Calculate EMI for short-term needs like medical, travel, or business.
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Education Loan → Understand repayment for student loans with clarity.
๐ Factors Affecting EMI
Several factors decide how much EMI you will pay:
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Loan Amount – Bigger loans mean higher EMIs.
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Interest Rate – Higher rates increase your EMI and total repayment.
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Tenure – Longer tenure reduces EMI but increases interest paid.
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Prepayment / Extra Payment – Helps reduce total interest and shortens loan duration.
๐ Tips to Save on Loan Interest
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Pay Extra EMI whenever you have spare funds – even a small addition helps.
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Prepay Early in the loan period; interest is highest in initial years.
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Compare Lenders before finalizing – a small difference in rate saves big money.
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Choose Shorter Tenure if you can afford higher EMI; you’ll save a lot on interest.
๐ Frequently Asked Questions (FAQ)
Q. Can I reduce EMI without increasing tenure?
Yes, by negotiating a lower interest rate with the lender or prepaying part of the loan.
Q. What happens if I prepay my loan?
Your outstanding balance reduces, and you either pay less interest or close the loan earlier.
Q. Is processing fee included in EMI?
No, the processing fee is usually a one-time charge by the lender, but our tool shows it separately.
๐ Disclaimer
This calculator is for educational and estimation purposes only. Actual EMI, tenure, and charges may vary based on your bank or lending institution’s policies. Please consult with your financial provider before making final decisions.
๐ Call to Action
Bookmark this page and use it whenever you plan a new loan. Explore other financial calculators and guides on our website to manage your money better and make smarter financial decisions.
