EMI Calculator
Work out the monthly EMI, total interest and repayment schedule for a loan.
For education loans: the study period plus any grace period before payments start. Interest in this time is added to the loan.
Monthly EMI
₹10,501
Loan amount
₹5,00,000
Total interest
₹1,30,056
Total payment
₹6,30,056
Month-by-month schedule (60 payments)
| Month | Interest | Principal | Balance |
|---|---|---|---|
| 1 | ₹3,958 | ₹6,543 | ₹4,93,457 |
| 2 | ₹3,907 | ₹6,594 | ₹4,86,863 |
| 3 | ₹3,854 | ₹6,647 | ₹4,80,216 |
| 4 | ₹3,802 | ₹6,699 | ₹4,73,517 |
| 5 | ₹3,749 | ₹6,752 | ₹4,66,765 |
| 6 | ₹3,695 | ₹6,806 | ₹4,59,959 |
| 7 | ₹3,641 | ₹6,860 | ₹4,53,100 |
| 8 | ₹3,587 | ₹6,914 | ₹4,46,186 |
| 9 | ₹3,532 | ₹6,969 | ₹4,39,217 |
| 10 | ₹3,477 | ₹7,024 | ₹4,32,193 |
| 11 | ₹3,422 | ₹7,079 | ₹4,25,114 |
| 12 | ₹3,365 | ₹7,135 | ₹4,17,978 |
| 13 | ₹3,309 | ₹7,192 | ₹4,10,787 |
| 14 | ₹3,252 | ₹7,249 | ₹4,03,538 |
| 15 | ₹3,195 | ₹7,306 | ₹3,96,231 |
| 16 | ₹3,137 | ₹7,364 | ₹3,88,867 |
| 17 | ₹3,079 | ₹7,422 | ₹3,81,445 |
| 18 | ₹3,020 | ₹7,481 | ₹3,73,964 |
| 19 | ₹2,961 | ₹7,540 | ₹3,66,423 |
| 20 | ₹2,901 | ₹7,600 | ₹3,58,823 |
| 21 | ₹2,841 | ₹7,660 | ₹3,51,163 |
| 22 | ₹2,780 | ₹7,721 | ₹3,43,442 |
| 23 | ₹2,719 | ₹7,782 | ₹3,35,660 |
| 24 | ₹2,657 | ₹7,844 | ₹3,27,817 |
| 25 | ₹2,595 | ₹7,906 | ₹3,19,911 |
| 26 | ₹2,533 | ₹7,968 | ₹3,11,943 |
| 27 | ₹2,470 | ₹8,031 | ₹3,03,911 |
| 28 | ₹2,406 | ₹8,095 | ₹2,95,816 |
| 29 | ₹2,342 | ₹8,159 | ₹2,87,657 |
| 30 | ₹2,277 | ₹8,224 | ₹2,79,433 |
| 31 | ₹2,212 | ₹8,289 | ₹2,71,145 |
| 32 | ₹2,147 | ₹8,354 | ₹2,62,790 |
| 33 | ₹2,080 | ₹8,421 | ₹2,54,370 |
| 34 | ₹2,014 | ₹8,487 | ₹2,45,883 |
| 35 | ₹1,947 | ₹8,554 | ₹2,37,328 |
| 36 | ₹1,879 | ₹8,622 | ₹2,28,706 |
| 37 | ₹1,811 | ₹8,690 | ₹2,20,016 |
| 38 | ₹1,742 | ₹8,759 | ₹2,11,257 |
| 39 | ₹1,672 | ₹8,828 | ₹2,02,428 |
| 40 | ₹1,603 | ₹8,898 | ₹1,93,530 |
| 41 | ₹1,532 | ₹8,969 | ₹1,84,561 |
| 42 | ₹1,461 | ₹9,040 | ₹1,75,521 |
| 43 | ₹1,390 | ₹9,111 | ₹1,66,410 |
| 44 | ₹1,317 | ₹9,184 | ₹1,57,226 |
| 45 | ₹1,245 | ₹9,256 | ₹1,47,970 |
| 46 | ₹1,171 | ₹9,330 | ₹1,38,641 |
| 47 | ₹1,098 | ₹9,403 | ₹1,29,237 |
| 48 | ₹1,023 | ₹9,478 | ₹1,19,759 |
| 49 | ₹948 | ₹9,553 | ₹1,10,207 |
| 50 | ₹872 | ₹9,628 | ₹1,00,578 |
| 51 | ₹796 | ₹9,705 | ₹90,873 |
| 52 | ₹719 | ₹9,782 | ₹81,092 |
| 53 | ₹642 | ₹9,859 | ₹71,233 |
| 54 | ₹564 | ₹9,937 | ₹61,296 |
| 55 | ₹485 | ₹10,016 | ₹51,280 |
| 56 | ₹406 | ₹10,095 | ₹41,185 |
| 57 | ₹326 | ₹10,175 | ₹31,011 |
| 58 | ₹245 | ₹10,255 | ₹20,755 |
| 59 | ₹164 | ₹10,337 | ₹10,418 |
| 60 | ₹82 | ₹10,418 | ₹0 |
Everything runs in your browser. What you type is not sent anywhere.
How to use EMI Calculator
- 1Enter the loan amount, the yearly interest rate and the loan period. For an education loan, add the moratorium in months.
- 2Read your monthly EMI, total interest and total payment.
- 3Open the schedule to see how each payment splits into interest and principal.
Frequently asked questions
How is the EMI calculated?
With the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of months.
Does it work for education loans?
Yes. Many education loans have a moratorium, a study period plus a grace period before payments start, in which interest builds up. Enter it in months and the tool adds that interest to the loan before working out the EMI. Banks treat it differently, so check yours.
Will my bank show exactly the same number?
It will be very close. Banks may round figures or add processing fees, so treat this as a good estimate.