EMI Calculator
AboutCompute home, car, or personal-loan EMIs and walk the schedule month-by-month so dated prepayments and mid-loan rate revisions land where they actually do. Switch to Advanced to add prepayment schedules and a tenure-reduction planner that tells you how much extra to pay to close the loan years sooner.
Where your money goes
- Principal48.0%₹50,00,000
- Interest52.0%₹54,13,879
Cut your tenure
Pay this much extra (on top of your regular EMI) to close the loan sooner. The yearly column is a single lump-sum at the end of each loan-year — slightly different math from monthly × 12.
| Cut tenure by | Per month | Or once a year |
|---|---|---|
| 1 year | ₹881 | ₹10,995 |
| 2 years | ₹1,882 | ₹23,481 |
| 4 years | ₹4,333 | ₹54,075 |
| 6 years | ₹7,605 | ₹94,898 |
| 8 years | ₹12,112 | ₹1,51,137 |
| 10 years | ₹18,602 | ₹2,32,125 |
Year-by-year amortization (21 years)
| Year | Rate | Opening | EMI paid | Interest | Principal | Prepayments | Closing |
|---|---|---|---|---|---|---|---|
| 2026 | 8.50% | ₹50,00,000 | ₹1,30,173 | ₹1,06,080 | ₹24,093 | — | ₹49,75,907 |
| 2027 | 8.50% | ₹49,75,907 | ₹5,20,694 | ₹4,19,053 | ₹1,01,641 | — | ₹48,74,266 |
| 2028 | 8.50% | ₹48,74,266 | ₹5,20,694 | ₹4,10,069 | ₹1,10,625 | — | ₹47,63,640 |
| 2029 | 8.50% | ₹47,63,640 | ₹5,20,694 | ₹4,00,290 | ₹1,20,404 | — | ₹46,43,237 |
| 2030 | 8.50% | ₹46,43,237 | ₹5,20,694 | ₹3,89,648 | ₹1,31,046 | — | ₹45,12,191 |
| 2031 | 8.50% | ₹45,12,191 | ₹5,20,694 | ₹3,78,065 | ₹1,42,629 | — | ₹43,69,561 |
| 2032 | 8.50% | ₹43,69,561 | ₹5,20,694 | ₹3,65,457 | ₹1,55,237 | — | ₹42,14,325 |
| 2033 | 8.50% | ₹42,14,325 | ₹5,20,694 | ₹3,51,736 | ₹1,68,958 | — | ₹40,45,367 |
| 2034 | 8.50% | ₹40,45,367 | ₹5,20,694 | ₹3,36,802 | ₹1,83,892 | — | ₹38,61,475 |
| 2035 | 8.50% | ₹38,61,475 | ₹5,20,694 | ₹3,20,547 | ₹2,00,147 | — | ₹36,61,328 |
| 2036 | 8.50% | ₹36,61,328 | ₹5,20,694 | ₹3,02,856 | ₹2,17,838 | — | ₹34,43,490 |
| 2037 | 8.50% | ₹34,43,490 | ₹5,20,694 | ₹2,83,601 | ₹2,37,093 | — | ₹32,06,397 |
| 2038 | 8.50% | ₹32,06,397 | ₹5,20,694 | ₹2,62,644 | ₹2,58,050 | — | ₹29,48,347 |
| 2039 | 8.50% | ₹29,48,347 | ₹5,20,694 | ₹2,39,835 | ₹2,80,859 | — | ₹26,67,489 |
| 2040 | 8.50% | ₹26,67,489 | ₹5,20,694 | ₹2,15,010 | ₹3,05,684 | — | ₹23,61,804 |
| 2041 | 8.50% | ₹23,61,804 | ₹5,20,694 | ₹1,87,990 | ₹3,32,704 | — | ₹20,29,100 |
| 2042 | 8.50% | ₹20,29,100 | ₹5,20,694 | ₹1,58,582 | ₹3,62,112 | — | ₹16,66,988 |
| 2043 | 8.50% | ₹16,66,988 | ₹5,20,694 | ₹1,26,575 | ₹3,94,119 | — | ₹12,72,869 |
| 2044 | 8.50% | ₹12,72,869 | ₹5,20,694 | ₹91,738 | ₹4,28,956 | — | ₹8,43,913 |
| 2045 | 8.50% | ₹8,43,913 | ₹5,20,694 | ₹53,822 | ₹4,66,872 | — | ₹3,77,041 |
| 2046 | 8.50% | ₹3,77,041 | ₹3,90,520 | ₹13,479 | ₹3,77,041 | — | ₹0 |
Notes & references
EMI formula
EMI = P × r × (1+r)^n / ((1+r)^n − 1)where P is principal, r is monthly interest rate (annual ÷ 12 ÷ 100), n is tenure in months.
How the simulation works
- We walk the loan month by month. Each month: interest accrues on the opening balance, the EMI's principal portion shaves the balance, then any prepayments scheduled in that month are applied.
- Prepayment strategy decides what happens after a prepayment: either the EMI stays put and the loan closes earlier (Reduce tenure), or the EMI is recomputed for the remaining tenure (Reduce EMI).
- Rate-change strategy decides what happens when the rate revises: either the tenure stays put and the EMI is recomputed (Keep tenure), or the EMI stays put and the tenure naturally adjusts (Keep EMI).
Cut-tenure planner
- For each delta (1 / 2 / 4 / 6 / 8 / 10 years) the planner does a binary search over the extra payment that makes the loan close at the target tenure.
- The Per month column is a uniform addition every month. The Or once a year column is a single lump-sum at the end of each loan-year — different math from "per month × 12" because it compounds differently.
Not modelled (yet)
- Tax benefits: Section 24 home-loan interest deduction (₹2L cap), 80C principal repayment.
- Step-up / step-down repayment plans, partial prepayment penalties.
- Loan-against-property, education loan, business loan presets.
- Processing fees, GST on interest, late-payment charges.
Persistence
- All your inputs are saved to your browser's localStorage under the key
chorecrush:emi-calculator:v1. Refresh the page or come back tomorrow — they're still there. Clear it from your browser settings if you want a clean slate.
For illustrative purposes only. Actual EMI, schedule, and bank behaviour can differ — fees, GST, prepayment penalties, and rate revision rules vary by lender. Verify any number with your bank before making a decision.
Frequently asked questions
How is EMI calculated?
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual ÷ 12 ÷ 100) and n is the number of monthly instalments. Each payment covers that month’s interest first, and the rest reduces the principal — this calculator shows the full month-by-month breakup.
How much do prepayments actually save?
A prepayment goes straight to principal, so it removes all the future interest that principal would have accrued — often far more than the prepaid amount, especially early in the loan. Add one-time or recurring prepayments here and the schedule shows the interest saved and how many months you shave off.
Should I reduce the EMI or the tenure when I prepay?
Reducing the tenure (keeping the EMI the same) saves the most interest, because you stay at a higher payment and clear the loan faster. Reducing the EMI lowers your monthly outgo but saves less overall. The calculator lets you model both.
Can it handle interest-rate changes during the loan?
Yes. Floating-rate loans reset over time — add rate-change events and the schedule recomputes the EMI or tenure from that month onward, so the projection matches a real floating-rate loan.
Does it work for home, car and personal loans? Is my data saved?
Yes — it works for any amortising loan (home, car, personal). Everything runs in your browser with no upload, and your inputs persist in localStorage so they are still there when you return.