How is the EMI worked out?

With the standard formula P·r·(1+r)^n / ((1+r)^n − 1), where r is the yearly rate divided by 12 and n the number of months, rounded to the paisa or cent.

Why does my bank's last EMI differ?

Each month's interest is rounded, so the last payment takes what is left; lenders round in their own ways and can differ by a few rupees or cents.

Is this financial advice?

No. It is arithmetic on the numbers you type; rates, fees and rules differ by lender and place, so check your own papers.

All tools

EMI calculator

Your monthly instalment (EMI) and the interest over the term, with a schedule to download. Free, with no account or uploads.

Work out an EMI

Type the amount, the rate and the term; the page starts with an example.

Amount borrowed

Interest a year

An example to start from; type your own.

With these numbers

$332.14 a month for 3 years

Interest adds $1,957, about the same as 6 of the payments. From month 1, more of each payment goes to the loan than to interest.

To the loanInterest

The dashed line is month 1, where more goes to the loan than to interest.

Show the numbers as a table

Year	To the loan	Interest
Year 1	$2,944	$1,042
Year 2	$3,318	$668
Year 3	$3,738	$247

Each month's interest is rounded to the cent, half up, and the last payment pays what is left, so your lender's schedule may differ by a few cents.

Currency

Extra each month

Paid on top of every payment, straight off the loan.

A lump sum paid earlyThe rate changes laterFor a floating rate: see both choices a lender may offer.

Fees paid at the start

For the APR: the yearly rate with the fees counted, as US Regulation Z and India's Key Facts Statement work it out.

First payment (for dates in the schedule)

How it works and help

This is arithmetic on the numbers you type, not financial advice. Rates, fees and rules differ by lender and place. Worked out in your browser; nothing you type is sent anywhere.

A little help along the way

Follow these steps. Every option is explained underneath. Everything runs in your browser; nothing is sent anywhere.

Say what you are working outA home, car or personal loan, paying off a card, or checking an offer.
Type the amount, the rate and the termThe page starts with an example; type your own.
Read the answerThe payment and the interest in words first, then the chart and the schedule.
Download the scheduleAs CSV, a spreadsheet or a PDF.

Questions people ask

How is the EMI worked out?: With the standard formula P·r·(1+r)^n / ((1+r)^n − 1), where r is the yearly rate divided by 12 and n the number of months, rounded to the paisa or cent.
Why does my bank's last EMI differ?: Each month's interest is rounded, so the last payment takes what is left; lenders round in their own ways and can differ by a few rupees or cents.
Is this financial advice?: No. It is arithmetic on the numbers you type; rates, fees and rules differ by lender and place, so check your own papers.

This page is the Loan calculator, opened for this one job; every other tool it has is one press away. Each of its settings is explained on the Loan calculator's own page.

EMI calculator

Work out an EMI

A little help along the way

Questions people ask

Guides

Same tool, other jobs

Tools nearby

EMI calculator

Work out an EMI

A little help along the way

Questions people ask

Keep going

Guides

Same tool, other jobs

Tools nearby