EMI Calculator

What does the EMI Calculator do?

EMI is the fixed amount you pay each month on a reducing-balance loan. Each payment covers that month’s interest first, with the rest reducing the principal — so early payments are mostly interest and later payments mostly principal. The amortization table shows exactly that for every month, and can be downloaded as CSV for Excel or Google Sheets.

The formula is EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the principal, r the monthly interest rate (annual ÷ 12 ÷ 100) and n the number of months.

Examples

Car financing

2,500,000 at 14% for 60 months → EMI ≈ 58,170.63; total interest ≈ 990,238.

Home loan

5,000,000 at 15% for 20 years → EMI ≈ 65,839.

Common use cases

• Car financing and auto loans
• Home loans and mortgages
• Personal and consumer loans
• Checking a bank’s quoted instalment

Features and benefits

• Private by design — your data is processed on your device and never uploaded.
• Free with no account, no watermark and no usage limits.
• Works on phones, tablets and desktops in any modern browser.

Limitations to know

• Some lenders quote a “flat rate”, which gives a higher effective rate than reducing balance; ask which method is used.
• Processing fees, insurance and taxes are not included.