EMI / Loan Calculator
Enter a loan amount, annual interest rate and tenure in months to get the monthly EMI, total interest, total cost including processing fee and GST, and a month-by-month amortization schedule. You can then test an extra lumpsum or monthly top-up, step-up EMIs, a balloon payment, or a rate rise. Amounts are in Indian rupees and nothing leaves your browser.
Runs in your browser
Free, no sign-up. Everything is calculated in your browser. Loan details are not uploaded, stored or sent to analytics; events record only that a calculation or copy happened.
Advanced EMI / Loan Calculator
Model payment timing, step EMIs, prepayments, fees, floating rates, and tax benefits.
Loan Basics
Core amount, rate, tenure, compounding, and Indian display preference.
Dynamic Payment Strategy
Choose arrears or advance payments, step-up/down EMIs, and balloon payments.
Prepayment & Foreclosure
Test bonus payments, monthly top-ups, and what changes after a prepayment.
Fees, GST & Tax Benefits
Include hidden charges and estimate Indian home-loan deductions.
Monthly EMI
₹43,391
Base installment before optional top-ups.
Total Interest
₹50,69,412
Interest saved: ₹3,44,466
Total Cost of Credit
₹1,00,98,912
Principal + interest + processing fees + GST.
Net Amount Disbursed
₹49,70,500
Fees + GST: ₹29,500
Closure Timeline
19 yr 2 mo
Tenure saved: 10 mo
Total Paid
₹1,00,98,912
All loan payments plus upfront charges.
Floating Rate Simulator
Stress test rate movements while keeping the original EMI constant.
Simulated rate: 9.00%
EMI for same tenure: ₹44,986
If EMI is unchanged: 22 yr 4 mo (+2 yr 4 mo)
Indian Market Summary
Processing fee, GST, real disbursal, and home-loan tax benefit estimate.
Section 24b interest eligible: ₹2,00,000
Section 80C principal eligible: ₹99,511
Potential first-year tax saving: ₹89,853
Interactive Amortization Schedule
Month-by-month principal, interest, extra payment, and remaining balance.
| Month | Opening | EMI | Extra | Interest | Principal | Balance |
|---|---|---|---|---|---|---|
| 1 | ₹50,00,000 | ₹43,391 | - | ₹35,417 | ₹7,974 | ₹49,92,026 |
| 2 | ₹49,92,026 | ₹43,391 | - | ₹35,360 | ₹8,031 | ₹49,83,995 |
| 3 | ₹49,83,995 | ₹43,391 | - | ₹35,303 | ₹8,088 | ₹49,75,907 |
| 4 | ₹49,75,907 | ₹43,391 | - | ₹35,246 | ₹8,145 | ₹49,67,762 |
| 5 | ₹49,67,762 | ₹43,391 | - | ₹35,188 | ₹8,203 | ₹49,59,559 |
| 6 | ₹49,59,559 | ₹43,391 | - | ₹35,130 | ₹8,261 | ₹49,51,298 |
| 7 | ₹49,51,298 | ₹43,391 | - | ₹35,072 | ₹8,319 | ₹49,42,978 |
| 8 | ₹49,42,978 | ₹43,391 | - | ₹35,013 | ₹8,378 | ₹49,34,600 |
| 9 | ₹49,34,600 | ₹43,391 | - | ₹34,953 | ₹8,438 | ₹49,26,162 |
| 10 | ₹49,26,162 | ₹43,391 | - | ₹34,894 | ₹8,498 | ₹49,17,665 |
| 11 | ₹49,17,665 | ₹43,391 | - | ₹34,833 | ₹8,558 | ₹49,09,107 |
| 12 | ₹49,09,107 | ₹43,391 | - | ₹34,773 | ₹8,618 | ₹49,00,489 |
| 13 | ₹49,00,489 | ₹43,391 | - | ₹34,712 | ₹8,679 | ₹48,91,809 |
| 14 | ₹48,91,809 | ₹43,391 | - | ₹34,650 | ₹8,741 | ₹48,83,068 |
| 15 | ₹48,83,068 | ₹43,391 | - | ₹34,588 | ₹8,803 | ₹48,74,266 |
| 16 | ₹48,74,266 | ₹43,391 | - | ₹34,526 | ₹8,865 | ₹48,65,400 |
| 17 | ₹48,65,400 | ₹43,391 | - | ₹34,463 | ₹8,928 | ₹48,56,473 |
| 18 | ₹48,56,473 | ₹43,391 | - | ₹34,400 | ₹8,991 | ₹48,47,481 |
| 19 | ₹48,47,481 | ₹43,391 | - | ₹34,336 | ₹9,055 | ₹48,38,427 |
| 20 | ₹48,38,427 | ₹43,391 | - | ₹34,272 | ₹9,119 | ₹48,29,308 |
| 21 | ₹48,29,308 | ₹43,391 | - | ₹34,208 | ₹9,184 | ₹48,20,124 |
| 22 | ₹48,20,124 | ₹43,391 | - | ₹34,143 | ₹9,249 | ₹48,10,875 |
| 23 | ₹48,10,875 | ₹43,391 | - | ₹34,077 | ₹9,314 | ₹48,01,561 |
| 24 | ₹48,01,561 | ₹43,391 | ₹1,00,000 | ₹34,011 | ₹1,09,380 | ₹46,92,181 |
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How to use the EMI / Loan Calculator
- Under Loan Basics, enter the Loan Amount, Annual Interest Rate and Tenure (in months, up to 720). Pick the Compounding Frequency; monthly is the usual choice for retail loans.
- Under Dynamic Payment Strategy, choose EMI in Arrears (paid at month end) or in Advance, a Fixed, Step-Up or Step-Down EMI with a Yearly Step Change, and an optional Balloon Payment at End.
- Under Prepayment & Foreclosure, set a Lumpsum Injection and the Lumpsum Month, an optional Monthly Top-up, and whether After Prepayment you want to Reduce Tenure or Reduce EMI. The form starts with a sample lumpsum of 1,00,000 in month 24; set it to 0 to see the plain loan.
- Under Fees, GST & Tax Benefits, enter the Processing Fee (percent and/or flat), GST on it, the Loan Type and your Tax Slab.
- Read the result cards (EMI, Total Interest, Total Cost of Credit, Net Amount Disbursed, Closure Timeline, Total Paid), the Floating Rate Simulator, the Indian Market Summary and the Amortization Schedule. Use Copy summary to copy the headline figures as text, and Reset to restore the sample values.
- If an input is outside its supported range, a red Check these inputs box lists it and the figures use the nearest supported value until you fix it.
Worked example
Sample data
Loan Amount: 50,00,000 Annual Interest Rate: 8.5% Tenure: 240 months Monthly compounding, EMI in arrears, Fixed EMI Lumpsum Injection: 0 Processing Fee: 0.5% + 18% GST
Monthly EMI: 43,391 Total Interest: 54,13,879 Total Paid (EMIs only): 1,04,13,879 Processing fee 25,000 + GST 4,500 = 29,500 Net Amount Disbursed: 49,70,500 Total Cost of Credit: 1,04,43,379
Month 1 interest is 5,000,000 x 8.5% / 12 = 35,417, so only about 7,974 of the first EMI reduces the principal. Adding the form's default lumpsum of 1,00,000 in month 24 (Reduce Tenure) closes the loan in 230 months instead of 240 and saves about 3,44,466 in interest. A +0.5% rate move with the EMI left unchanged stretches the loan to 268 months (+28), or lifts the EMI to about 44,986 if you keep 240 months.
How it works
The EMI formula
For a plain fixed loan paid at month end, the EMI comes from the reducing-balance formula: P is the loan amount, r the monthly rate and n the number of months. Each month the interest is the opening balance times r, and the rest of the EMI repays principal, so interest is front-loaded.
With monthly compounding, r is the annual rate divided by 12. With quarterly or half-yearly compounding the calculator first converts to an effective annual rate and then to an equivalent monthly rate, so the EMI changes slightly.
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1) r = annual rate / 12 / 100 (monthly compounding)
Advance, step-up and balloon options
EMI in Advance moves each payment one month earlier and charges no interest on the first month, so the first payment happens at disbursal. Step-Up and Step-Down change the EMI by the Yearly Step Change percentage at the start of each loan year, and the starting EMI is solved so the whole schedule still repays the loan.
A Balloon Payment is a lumpsum due in the final month. It lowers the regular EMI but leaves a larger payment at the end. It cannot exceed the loan amount.
Prepayments
A Lumpsum Injection in the chosen month, and any Monthly Top-up, go straight against principal. With Reduce Tenure the EMI stays the same and the loan ends sooner; with Reduce EMI (applied after a lumpsum) the EMI is recalculated over the remaining months. Interest saved and tenure saved compare against the same loan without lumpsum or top-up. Real lenders may charge prepayment or foreclosure fees, which are not modelled.
Fees, floating rate and tax estimate
Processing fee = loan amount x fee % + flat fee. GST is charged on the fee. Net Amount Disbursed is the loan amount minus fee and GST, and Total Cost of Credit is principal plus interest plus fee and GST.
The Floating Rate Simulator moves the rate by -2% to +2% and shows the EMI needed to keep the same tenure, or the new tenure if you keep paying the original EMI. If the EMI no longer covers the monthly interest it says so.
For Home Loan mode, the tax estimate takes first-year interest capped at 2,00,000 (Section 24b) and first-year principal capped at 1,50,000 (Section 80C), multiplies the total by your Tax Slab, and shows the result. It assumes a self-occupied property and the old tax regime, and it ignores other 80C investments, joint loans and surcharge.
Inputs, outputs and limits
Inputs
- Loan amount, annual interest rate and tenure in months
- Compounding frequency, EMI timing and strategy (fixed, step-up, step-down), balloon payment
- Lumpsum amount and month, monthly top-up, prepayment mode
- Processing fee (percent and flat), GST rate, loan type and tax slab, rate movement
Outputs
- EMI (and revised EMI after prepayment), total interest, total paid, total cost of credit
- Net amount disbursed, processing fee and GST
- Closure timeline, interest saved and tenure saved
- Floating-rate EMI and tenure impact
- Home-loan Section 24b / 80C estimate
- Month-by-month amortization schedule; Copy summary as text
Limits
- Indian rupee formatting only; rates 0-60%, tenure 1-720 months, loan up to 1,000 crore.
- Lender rounding, day-count conventions, prepayment charges and rate-reset rules differ and are not modelled, so your lender's schedule can differ by small amounts.
- The floating-rate view is a single what-if shift of the whole loan, not a forecast.
- The tax estimate is indicative: old regime, self-occupied property, statutory caps as coded; not tax advice.
Processing
- Everything is calculated in your browser. Loan details are not uploaded, stored or sent to analytics; events record only that a calculation or copy happened.
Frequently asked questions
Why does my bank's EMI differ by a few rupees?
Banks round differently, may count days rather than whole months, and may start interest from the disbursal date. This calculator uses whole months and unrounded maths, then displays rupees to the nearest whole number.
Should a prepayment reduce my tenure or my EMI?
Reducing tenure usually saves more interest because you keep paying the same amount against a smaller balance. Reducing EMI eases monthly cash flow. Switch After Prepayment to compare both on your numbers.
Why is so little of my first EMI going to principal?
Interest is charged on the full outstanding balance, which is highest at the start. In the sample loan, interest takes about 35,417 of the 43,391 first EMI. The principal share grows each month.
What does the floating rate simulator show?
It shifts the rate by the amount you pick and shows two outcomes: the higher or lower EMI needed to stay on the original tenure, or the new tenure if your EMI does not change. It does not predict future rates.
How reliable is the tax benefit estimate?
Treat it as a rough first-year figure for a self-occupied home under the old regime, using the Section 24b 2,00,000 and Section 80C 1,50,000 caps. Eligibility depends on your regime, other deductions and property status; confirm with a tax professional.
Is my loan information sent anywhere?
No. The maths runs in this page and the inputs are never uploaded or included in analytics events.
Need this workflow inside your product?
We build calculators, converters and processing steps like this one directly into your web or mobile product, with your rules and branding.