Business & Finance

EMI & Loan Calculator

EMI, amortisation schedule, prepayment impact and loan comparison.

Loan details

Result

Monthly EMI
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Principal
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Total interest
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Total payable
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Interest as % of loan
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Instalments
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Last instalment
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Effective rate
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Prepayment planner

Model a lump sum, or an extra amount paid every month.

Compare loans

Three offers side by side, including fees.

OfferAmountRate %YearsFees EMITotal interestTotal cost

Amortisation schedule

#DateEMIPrincipal InterestBalancePaid %

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About EMI & Loan Calculator

Complete loan calculator for home, car, personal and business borrowing. Compute EMI, total interest and full amortisation schedule, model part-prepayments and rate changes, compare up to three loans side by side and export the schedule.

What it does

How to use it

  1. Enter the loan amount, annual interest rate and tenure.
  2. The EMI, total interest and full month-by-month schedule are calculated instantly.
  3. Add prepayments or a rate change to see how much interest and time they save.
  4. Compare up to three loans side by side, then export the schedule as CSV or PDF.

EMI & Loan Calculator is one of 50 free tools from CRMTECH Solutions. See all Business & Finance tools or browse every tool.

Frequently asked questions

Which EMI formula is used?

The standard reducing-balance formula E = P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n the number of months. This is what every Indian bank uses for home, car and personal loans.

Why does my bank's EMI differ by a rupee or two?

Banks round the EMI to the nearest rupee and some compute interest on a daily rather than monthly rest. Over a long tenure this shifts the final instalment slightly. The schedule here adjusts the last instalment so the balance closes at exactly zero.

How much does a prepayment actually save?

Far more than most people expect, because every rupee prepaid early removes all the future interest that rupee would have attracted. The tool shows both the interest saved and the months removed from the tenure.

Is reducing the tenure better than reducing the EMI?

Keeping the EMI and shortening the tenure saves considerably more interest. Reducing the EMI improves monthly cash flow instead. The prepayment section lets you model both and compare the totals.

Does this account for processing fees or insurance?

Add them in the Fees field and they are included in the total cost of the loan and the effective annual rate, so you can compare two offers on a like-for-like basis.

Is EMI & Loan Calculator free?

Yes. EMI & Loan Calculator is free for everyone and needs no sign-up to use. An account is only needed to export, download or print, because every export is recorded.

Are my files uploaded to a server?

No. EMI & Loan Calculator works inside your web browser, so the files you open are processed on your own device. If you sign in, the work you save (such as drafts and registers) is also kept in your account so it follows you to other devices.

Does it work on a phone?

Yes. It works in current versions of Chrome, Edge, Safari and Firefox on phones, tablets and computers, with nothing to install.