EMI Calculator

Monthly EMI:

2199/month
Principal Amount: 100000
Total Interest: 31956
Total Payable: 131956

Amortization Schedule

Month Opening Balance Monthly Interest Monthly Principal Outstanding Balance
1 100000.0 958.3333333333335 1240.9274041537165 98759.07259584629
2 98759.07259584629 946.4411123768604 1252.8196251101895 97506.2529707361
3 97506.2529707361 934.4349243028877 1264.8258131841621 96241.42715755194
4 96241.42715755194 922.3136769265395 1276.9470605605104 94964.48009699142
5 94964.48009699142 910.0762675961679 1289.1844698908822 93675.29562710054
6 93675.29562710054 897.7215830930469 1301.5391543940032 92373.75647270653
7 92373.75647270653 885.2484995301044 1314.0122379569457 91059.74423474958
8 91059.74423474958 872.6558822496836 1326.6048552373663 89733.13937951221
9 89733.13937951221 859.9425857203255 1339.3181517667244 88393.82122774549
10 88393.82122774549 847.107453432561 1352.153284054489 87041.667943691
11 87041.667943691 834.1493177937056 1365.1114196933445 85676.55652399766
12 85676.55652399766 821.0670000216443 1378.1937374654058 84298.36278653225
13 84298.36278653225 807.8593100376008 1391.401427449449 82906.9613590828
14 82906.9613590828 794.5250463578768 1404.7356911291731 81502.22566795362
15 81502.22566795362 781.0629959845556 1418.1977415024944 80084.02792645113
16 80084.02792645113 767.4719342951568 1431.7888031918933 78652.23912325923
17 78652.23912325923 753.7506249312344 1445.5101125558156 77206.72901070342
18 77206.72901070342 739.8978196859078 1459.362917801142 75747.36609290227
19 75747.36609290227 725.9122583903136 1473.3484790967364 74274.01761380554
20 74274.01761380554 711.7926687989698 1487.4680686880802 72786.54954511746
21 72786.54954511746 697.5377664740424 1501.7229710130075 71284.82657410446
22 71284.82657410446 683.1462546685011 1516.1144828185488 69768.71209128591
23 69768.71209128591 668.6168242081567 1530.6439132788933 68238.06817800702
24 68238.06817800702 653.9481533725673 1545.3125841144827 66692.75559389254
25 66692.75559389254 639.1389077748036 1560.1218297122464 65132.63376418029
26 65132.63376418029 624.1877402400612 1575.0729972469887 63557.560766933304
27 63557.560766933304 609.0932906831109 1590.1674468039391 61967.39332012936
28 61967.39332012936 593.8541859845731 1605.4065515024768 60361.986768626884
29 60361.986768626884 578.4690398660077 1620.7916976210422 58741.195071005845
30 58741.195071005845 562.9364527638061 1636.3242847232439 57104.8707862826
31 57104.8707862826 547.255011701875 1652.005725785175 55452.865060497425
32 55452.865060497425 531.4232901631003 1667.8374473239496 53785.02761317347
33 53785.02761317347 515.4398479595792 1683.8208895274706 52101.206723646
34 52101.206723646 499.30323110160754 1699.9575063854425 50401.249217260556
35 50401.249217260556 483.01197166541374 1716.2487658216362 48685.00045143892
36 48685.00045143892 466.56458765962304 1732.6961498274268 46952.3043016115
37 46952.3043016115 449.9595828904436 1749.3011545966065 45203.00314701489
38 45203.00314701489 433.19544682555943 1766.0652906614905 43436.9378563534
39 43436.9378563534 416.2706544567201 1782.99008303033 41653.94777332307
40 41653.94777332307 399.18366616101275 1800.0770713260372 39853.87070199703
41 39853.87070199703 381.9329275608049 1817.327809926245 38036.542892070785
42 38036.542892070785 364.5168693823451 1834.743868104705 36201.79902396608
43 36201.79902396608 346.9339073130083 1852.3268301740416 34349.47219379204
44 34349.47219379204 329.1824418571737 1870.0782956298763 32479.393898162165
45 32479.393898162165 311.2608581907208 1887.9998792963293 30591.394018865834
46 30591.394018865834 293.16752601413094 1906.093211472919 28685.300807392916
47 28685.300807392916 274.9007994041821 1924.3599380828678 26760.94086931005
48 26760.94086931005 256.45901666422134 1942.8017208228287 24818.13914848722
49 24818.13914848722 237.84050017300254 1961.4202373140474 22856.71891117317
50 22856.71891117317 219.04355623207624 1980.2171812549736 20876.501729918196
51 20876.501729918196 200.06647491171606 1999.1942625753338 18877.307467342864
52 18877.307467342864 180.90752989536912 2018.3532075916808 16858.954259751183
53 16858.954259751183 161.56497832261553 2037.6957591644343 14821.258500586748
54 14821.258500586748 142.03706063062302 2057.223676856427 12764.03482373032
55 12764.03482373032 122.32200039408225 2076.9387370929676 10687.096086637353
56 10687.096086637353 102.41800416360797 2096.842733323442 8590.25335331391
57 8590.25335331391 82.32326130259165 2116.9374761844583 6473.315877129452
58 6473.315877129452 62.03594382249059 2137.2247936645595 4336.091083464893
59 4336.091083464893 41.55420621653856 2157.7065312705113 2178.3845521943817
60 2178.3845521943817 20.87618529186283 2178.384552195187 0.0

What is Home Loan EMI?

EMI stands for Equated Monthly Installment. It is the fixed monthly payment made by a borrower to a lender to repay the loan over time. The EMI includes both the principal and the interest component. The longer the loan tenure, the lower the EMI amount, though total interest outgo increases.

How is EMI Calculated?

The formula for calculating EMI is:

EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]
  • P = Principal loan amount
  • R = Monthly interest rate (annual rate / 12 / 100)
  • N = Loan tenure in months

Why Use an EMI Calculator?

An EMI calculator helps you estimate your monthly loan payment based on the amount, interest rate, and tenure. It aids in financial planning, helps assess affordability, and allows you to compare loan options before making a decision.

What is a Loan Amortization Schedule?

A loan amortization schedule provides a detailed breakdown of each EMI into principal and interest components over the loan tenure. It helps you track loan repayment, understand interest outgo, and plan prepayments effectively.

Types of Repayment Plans

  • Step-Up Repayment: Start with lower EMIs and gradually increase them in line with income growth.
  • Flexible Installments: Pay higher EMIs initially, which reduce over time.
  • Tranche-Based EMI: Pay only interest until final disbursement; EMIs start afterward.
  • Accelerated Repayment: Increase your EMI annually to repay the loan faster and save on interest.
  • Telescopic Repayment: Avail longer tenures of up to 30 years for lower EMIs and higher eligibility.

How to Use the Home Loan EMI Calculator

To calculate EMI, enter your loan amount, select your preferred tenure in months or years, and input the annual interest rate. The calculator will instantly compute the EMI, total interest payable, and overall repayment amount.

Frequently Asked Questions (FAQs)

What types of loans can this EMI calculator be used for?

This calculator can be used for a wide variety of loans such as home loans, personal loans, car loans, education loans, and business loans. It helps users plan their finances by giving accurate monthly repayment estimations.

Can I calculate EMI for floating interest rates?

Floating interest rates can change over time. While this calculator uses a fixed rate for computation, it still gives a good starting point to understand your repayment expectations. Recalculate periodically to keep it updated with current rates.

What happens if I miss an EMI payment?

Missing an EMI may attract late payment penalties, impact your credit score, and lead to additional financial burden. Repeated defaults can result in legal action or asset seizure depending on lender policy.

How can I reduce my EMI burden?

You can reduce your EMI by increasing the loan tenure, negotiating for lower interest rates, prepaying a portion of the principal, or switching to a lender offering better terms through refinancing.

Is it better to choose a longer or shorter loan tenure?

Longer tenure reduces EMI but increases total interest. Shorter tenure has higher EMIs but results in lower interest outgo. Choose based on your monthly cash flow and financial stability.