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LOANS CALCULATOR

EMI Calculator

Calculate a monthly EMI or find the loan amount that fits an EMI budget. Enter tenure in total months or years plus months and inspect principal, interest and a separate processing fee.

Calculator

The implied principal is rounded down to cents. The processing fee is paid separately.
%
months
Combined tenure must be between 1 and 600 months.
Advanced options
%
YOUR RESULTS
Monthly EMI10,138.20
Loan principal used
500,000.00
Total interest
108,291.83
Processing fee
5,000.00
Total cost
613,291.83
Total tenure used
60 months

The EMI is a level monthly payment across 60 months. The processing fee is shown separately and is not financed.

Remaining loan balance by year

Amounts use the same currency as your inputs.

Remaining balance
0207.6K415.3K12345Year

Year 5

Principal paid in year
116,546.50
Interest paid in year
5,111.86
Remaining balance
0.00

Each point shows the remaining balance after payments for that year. The final year may contain fewer than 12 payments.

Total repayment costs

  • Loan principal used500,000.00
  • Total interest108,291.83
  • Processing fee5,000.00

The processing fee is paid separately and is not financed.

Annual repayment summary
Annual repayment summary
YearPrincipal paid in yearInterest paid in yearRemaining balance
184,720.0536,938.31415,279.95
291,751.7729,906.59323,528.18
399,367.1322,291.24224,161.05
4107,614.5514,043.82116,546.50
5116,546.505,111.860.00
Page guide

Monthly installments and total loan interest

EMI is the level payment needed to reduce the modeled balance to zero over the selected number of months. The processing fee is shown separately rather than added to the loan. In Loan amount mode, principal is rounded downward to cents so the calculated EMI fits the entered budget. Loan principal used shows that amount. Total tenure used converts years and additional months into one monthly term; a processing fee remains outside both the loan and monthly budget.

To see how extra monthly payments change repayment time and interest, use the Loan Calculator with the same principal, rate, and term.

The formula

EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]

P is principal, r is the monthly rate, and n is tenure in months. At a zero rate, EMI equals principal divided by n. Interest is recalculated from the remaining balance each month. For a monthly budget A, principal P = A × [1 − (1 + r)^−n] ÷ r. At zero interest, P = A × n. Round the inferred principal downward to cents before projecting the loan. Whole years plus additional months gives n = 12 × years + additional months, constrained to 1–600. Monthly rates below 1e-20 use the zero-rate limit to avoid a numerically indistinguishable annuity denominator.

500,000 over 60 months at 8%

Using an 8% nominal annual rate divided monthly, the EMI is about 10,138.20. A 1% processing fee adds 5,000 outside the repayment schedule.

How to use this calculator

  1. Choose Monthly EMI or Loan amount. Enter the principal or the monthly EMI budget and annual interest rate.
  2. Enter total months or whole years plus additional months. Changing tenure entry converts the current valid term. Open additional options for the processing-fee percentage.
  3. Review live EMI, loan principal used, total tenure, interest and separate fee. Expand the annual repayment summary.

EMI and reducing balance

EMI describes a fixed recurring installment. Each installment pays the month’s interest first and then reduces principal.

The term is used for home, vehicle, education, and personal loans.

Fees change the effective cost

A processing fee increases the amount you spend even when it is not part of EMI.

Taxes on fees, insurance, advance installments, and prepayment conditions can also matter.

Start with a monthly EMI budget

Loan amount mode reverses the same reducing-balance formula. The amount is rounded down to cents and then projected through the repayment schedule. This estimates the principal supported by the entered installment, rate and term; it does not include income checks, underwriting or other monthly expenses.

For a 100 monthly EMI budget, zero interest and one year, the modeled principal is 1,200. A 1% processing fee adds 12 outside the loan, making total cost 1,212. Tenure of one year and six months means 18 monthly installments, the same as entering 18 total months.

Assumptions & limitations

What this calculation assumes

  • A fixed nominal annual rate divided into monthly periods.
  • EMIs occur at the end of each month.
  • The processing fee is paid separately.

What to keep in mind

  • Taxes, insurance, penalties, and changing rates are excluded.
  • Some lenders use different accrual or rounding conventions.
  • The calculation does not determine eligibility.

Common questions

Is EMI the same as a monthly loan payment?

For a standard reducing-balance loan, both refer to a level monthly installment.

What happens at 0% interest?

Principal is divided equally across the selected months.

Does a processing fee reduce principal?

This calculator treats it as a separate upfront cost.

Can I find a loan amount from an EMI I can pay?

Choose Loan amount, enter the monthly budget, rate and tenure. The principal is rounded down to cents before the repayment is calculated. The separate processing fee is not included in the EMI budget.

How do I enter a term with part of a year?

Choose Years and months, enter whole years and 0–11 additional months. For example, 1 year plus 6 months is 18 installments. The combined term must be 1–600 months.

Sources & further reading

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