EMI Calculator with Repayment Schedule
Work out your monthly EMI, see the full year-by-year repayment schedule, and check how much a prepayment would save you.
Monthly EMI
₹8,678
Principal
₹10,00,000
Total Interest
₹10,82,776
Total Payable
₹20,82,776
Loan ends in
20 years
Repayment schedule
Year by year, with the balance left at the end of each year. Tap a year to open the individual months.
| Year | Principal | Interest | Balance | Loan paid |
|---|---|---|---|---|
| Year 1 | 19,902 | 84,236 | 9,80,098 | 2.0% |
| Year 2 | 21,661 | 82,477 | 9,58,436 | 4.2% |
| Year 3 | 23,576 | 80,563 | 9,34,860 | 6.5% |
| Year 4 | 25,660 | 78,479 | 9,09,200 | 9.1% |
| Year 5 | 27,928 | 76,211 | 8,81,272 | 11.9% |
| Year 6 | 30,397 | 73,742 | 8,50,875 | 14.9% |
| Year 7 | 33,084 | 71,055 | 8,17,791 | 18.2% |
| Year 8 | 36,008 | 68,131 | 7,81,784 | 21.8% |
| Year 9 | 39,191 | 64,948 | 7,42,593 | 25.7% |
| Year 10 | 42,655 | 61,484 | 6,99,938 | 30.0% |
| Year 11 | 46,425 | 57,714 | 6,53,513 | 34.6% |
| Year 12 | 50,529 | 53,610 | 6,02,985 | 39.7% |
| Year 13 | 54,995 | 49,144 | 5,47,990 | 45.2% |
| Year 14 | 59,856 | 44,283 | 4,88,134 | 51.2% |
| Year 15 | 65,147 | 38,992 | 4,22,987 | 57.7% |
| Year 16 | 70,905 | 33,234 | 3,52,082 | 64.8% |
| Year 17 | 77,172 | 26,966 | 2,74,910 | 72.5% |
| Year 18 | 83,994 | 20,145 | 1,90,916 | 80.9% |
| Year 19 | 91,418 | 12,721 | 99,498 | 90.1% |
| Year 20 | 99,498 | 4,640 | 0 | 100.0% |
Figures are rounded to the nearest rupee for display; the schedule itself is computed on the exact EMI, so the balance reaches zero on the final row.
Prepay the loan or invest instead?
Compare clearing the loan early against putting the same money into a SIP, judged over the same number of years.
SIP Calculator
Estimate what a monthly mutual-fund investment grows to over the same period.
About the EMI Calculator
Work out the monthly instalment on any reducing-balance loan — home, car, personal or business — before you sign anything. Enter the amount, the annual rate and the tenure, and this EMI calculator shows the instalment, total interest, total outgo and a year-by-year repayment schedule down to individual months. Planning to prepay? Open the prepayment panel to model extra money every month, an annual bonus payment or a one-time lump sum, and see exactly how many months and rupees they save. Everything computes in your browser; your loan details never leave your device.
The reducing-balance maths banks actually use
Indian lenders quote EMIs on a reducing (diminishing) balance basis: each month, interest is charged only on the principal still unpaid. The formula is EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Because interest depends on the outstanding balance, the earliest instalments are mostly interest. On the ₹30 lakh example below, month one carries about ₹21,250 of interest against barely ₹4,785 of principal — the bank earns long before you build equity. The tilt evens out slowly: five years into that twenty-year loan, only about 12% of the principal has been repaid. This is why long tenures feel painless early and punishing late, and why the tenure you sign deserves more scrutiny than the EMI you are quoted.
Reading the repayment schedule
Below the results, the calculator lays out the amortisation year by year — principal repaid, interest paid, closing balance and the share of the loan settled so far. Tap any year to expand its twelve months and see the exact split of every instalment. Two things become obvious once you look. First, the interest column shrinks and the principal column grows every single year without exception; the crossover arrives surprisingly late on long loans. Second, rounding is handled honestly: figures display to the nearest rupee while the schedule itself runs on the exact unrounded EMI, so the balance reaches precisely zero on the final row instead of drifting by a few paise. If you are comparing two offers, run each set of terms here and compare the total-interest cells rather than the EMIs — a slightly lower instalment on a longer tenure can quietly cost lakhs more overall.
Prepayments: small extras, outsized savings
Open the prepayments panel and the calculator models three kinds of extra payment: a fixed amount added to every EMI, an extra payment every twelfth month (a bonus habit), and a one-time lump sum landing in any month you choose. Each extra rupee goes straight against the principal, your EMI stays unchanged, and the loan simply ends sooner — which is why the summary reports interest saved and time knocked off in green. Early prepayments work hardest because money removed in year one stops generating interest for the longest possible time. Under RBI rules, floating-rate home loans taken by individuals cannot attract a prepayment penalty; fixed-rate home loans, personal loans and business loans often can — commonly 2–5% of the amount prepaid — so check your sanction letter first. This calculator is education, not financial advice, but the arithmetic of prepaying early rarely lies.
Real numbers, start to finish
Take a ₹30,00,000 home loan at 8.5% for twenty years. The monthly rate works out to 8.5 ÷ 12 ÷ 100 ≈ 0.7083%, and n is 240 instalments. Feeding those into the formula gives an EMI of about ₹26,035 — and the schedule underneath reveals the story that number hides.
| Figure | Amount |
|---|---|
| Monthly EMI | ₹26,035 |
| Month-1 interest portion | ₹21,250 |
| Month-1 principal portion | ≈ ₹4,785 |
| Principal repaid after 5 years | ≈ ₹3.6 lakh (about 12%) |
| Total interest over 20 years | ≈ ₹32,48,000 |
| Total payable | ≈ ₹62,48,000 |
₹30,00,000 · 8.5% · 20 years (240 EMIs)
You borrow thirty lakh and hand back nearly sixty-two and a half — interest alone exceeds the loan itself. Now add just ₹2,000 to every EMI: the loan closes roughly three years and two months early and saves about ₹6.13 lakh in interest. That is the leverage hidden in small, early prepayments — the sooner they start, the more compounding they cancel. Figures follow the standard reducing-balance formula used here.
Video slot: emi-calculator-walkthrough.mp4
Entering a ₹30 lakh, 8.5%, 20-year loan, expanding Year 1 to show the month-wise interest-versus-principal split, then enabling ₹2,000 extra per month to watch the interest-saved and time-saved cards appear.
Coming soonHow to Use EMI Calculator Online
Follow these simple steps to use EMI Calculator securely in your web browser.
- 1
Enter Loan Details
Type principal loan amount, annual interest rate (%), and tenure in years or months.
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- 2
Click to Calculate Monthly EMI
Click calculate to view monthly payment, total interest payable, and total loan cost instantly.
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- 3
Inspect and Download Amortization
Click to inspect and download the month-by-month and annual principal vs interest reduction schedule.
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Features & Specifications
Formula
E = P * r * (1 + r)^n / ((1 + r)^n - 1)
Schedule Granularity
Monthly & Yearly Amortization
Currency
INR (₹) / USD ($) / Universal
Privacy Status
100% In-Browser Local Processing
100% Free & Private In-Browser Processing
Rupix operates on a zero-upload architecture. All computations, file parsing, and transformations occur locally inside your web browser. No document bytes, sensitive text, or personal data are ever uploaded or transmitted to remote servers.
Why use Rupix EMI Calculator?
Reducing Balance Formula
Accurate monthly compounding reducing balance calculation matching bank standards.
Full Amortization Schedule
Complete breakdown of yearly and monthly principal versus interest payments.
Prepayment Savings Analysis
Model lump-sum or recurring prepayments to calculate tenure reduction and interest saved.