Loan / EMI Calculator
Enter loan amount, interest rate and tenure to calculate your monthly EMI, total interest payable and full amortization schedule.
View amortization schedule (60 months)
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 2,051.65 | 1,343.32 | 708.33 | 98,656.68 |
| 2 | 2,051.65 | 1,352.83 | 698.82 | 97,303.85 |
| 3 | 2,051.65 | 1,362.42 | 689.24 | 95,941.43 |
| 4 | 2,051.65 | 1,372.07 | 679.59 | 94,569.36 |
| 5 | 2,051.65 | 1,381.79 | 669.87 | 93,187.57 |
| 6 | 2,051.65 | 1,391.57 | 660.08 | 91,796.00 |
| 7 | 2,051.65 | 1,401.43 | 650.22 | 90,394.57 |
| 8 | 2,051.65 | 1,411.36 | 640.29 | 88,983.21 |
| 9 | 2,051.65 | 1,421.36 | 630.30 | 87,561.85 |
| 10 | 2,051.65 | 1,431.42 | 620.23 | 86,130.43 |
| 11 | 2,051.65 | 1,441.56 | 610.09 | 84,688.87 |
| 12 | 2,051.65 | 1,451.77 | 599.88 | 83,237.09 |
| 13 | 2,051.65 | 1,462.06 | 589.60 | 81,775.04 |
| 14 | 2,051.65 | 1,472.41 | 579.24 | 80,302.62 |
| 15 | 2,051.65 | 1,482.84 | 568.81 | 78,819.78 |
| 16 | 2,051.65 | 1,493.35 | 558.31 | 77,326.43 |
| 17 | 2,051.65 | 1,503.92 | 547.73 | 75,822.51 |
| 18 | 2,051.65 | 1,514.58 | 537.08 | 74,307.93 |
| 19 | 2,051.65 | 1,525.31 | 526.35 | 72,782.63 |
| 20 | 2,051.65 | 1,536.11 | 515.54 | 71,246.52 |
| 21 | 2,051.65 | 1,546.99 | 504.66 | 69,699.53 |
| 22 | 2,051.65 | 1,557.95 | 493.70 | 68,141.58 |
| 23 | 2,051.65 | 1,568.98 | 482.67 | 66,572.60 |
| 24 | 2,051.65 | 1,580.10 | 471.56 | 64,992.50 |
| 25 | 2,051.65 | 1,591.29 | 460.36 | 63,401.21 |
| 26 | 2,051.65 | 1,602.56 | 449.09 | 61,798.65 |
| 27 | 2,051.65 | 1,613.91 | 437.74 | 60,184.74 |
| 28 | 2,051.65 | 1,625.34 | 426.31 | 58,559.39 |
| 29 | 2,051.65 | 1,636.86 | 414.80 | 56,922.53 |
| 30 | 2,051.65 | 1,648.45 | 403.20 | 55,274.08 |
| 31 | 2,051.65 | 1,660.13 | 391.52 | 53,613.95 |
| 32 | 2,051.65 | 1,671.89 | 379.77 | 51,942.07 |
| 33 | 2,051.65 | 1,683.73 | 367.92 | 50,258.33 |
| 34 | 2,051.65 | 1,695.66 | 356.00 | 48,562.68 |
| 35 | 2,051.65 | 1,707.67 | 343.99 | 46,855.01 |
| 36 | 2,051.65 | 1,719.76 | 331.89 | 45,135.25 |
| 37 | 2,051.65 | 1,731.95 | 319.71 | 43,403.30 |
| 38 | 2,051.65 | 1,744.21 | 307.44 | 41,659.09 |
| 39 | 2,051.65 | 1,756.57 | 295.09 | 39,902.52 |
| 40 | 2,051.65 | 1,769.01 | 282.64 | 38,133.51 |
| 41 | 2,051.65 | 1,781.54 | 270.11 | 36,351.97 |
| 42 | 2,051.65 | 1,794.16 | 257.49 | 34,557.81 |
| 43 | 2,051.65 | 1,806.87 | 244.78 | 32,750.94 |
| 44 | 2,051.65 | 1,819.67 | 231.99 | 30,931.27 |
| 45 | 2,051.65 | 1,832.56 | 219.10 | 29,098.72 |
| 46 | 2,051.65 | 1,845.54 | 206.12 | 27,253.18 |
| 47 | 2,051.65 | 1,858.61 | 193.04 | 25,394.57 |
| 48 | 2,051.65 | 1,871.77 | 179.88 | 23,522.80 |
| 49 | 2,051.65 | 1,885.03 | 166.62 | 21,637.76 |
| 50 | 2,051.65 | 1,898.39 | 153.27 | 19,739.38 |
| 51 | 2,051.65 | 1,911.83 | 139.82 | 17,827.54 |
| 52 | 2,051.65 | 1,925.37 | 126.28 | 15,902.17 |
| 53 | 2,051.65 | 1,939.01 | 112.64 | 13,963.16 |
| 54 | 2,051.65 | 1,952.75 | 98.91 | 12,010.41 |
| 55 | 2,051.65 | 1,966.58 | 85.07 | 10,043.83 |
| 56 | 2,051.65 | 1,980.51 | 71.14 | 8,063.32 |
| 57 | 2,051.65 | 1,994.54 | 57.12 | 6,068.78 |
| 58 | 2,051.65 | 2,008.67 | 42.99 | 4,060.12 |
| 59 | 2,051.65 | 2,022.89 | 28.76 | 2,037.22 |
| 60 | 2,051.65 | 2,037.22 | 14.43 | 0.00 |
Calculate your exact monthly EMI, total interest payable, and full loan amortization schedule with SolveBar's Loan Calculator. Works for personal loans, car loans, home loans, and any fixed-rate borrowing.
How EMI is calculated
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12), and n is the number of monthly installments. This ensures equal payments while gradually shifting from mostly interest to mostly principal.
Understanding the amortization schedule
In early payments, most of your EMI goes toward interest with little reducing the principal. Over time this reverses. This is why paying extra in the early years of a loan has a disproportionate impact on total interest paid.
Impact of prepayment
Making even one extra payment per year can shave years off your loan. On a 20-year home loan at 8%, an extra payment of just 10% per year can cut the loan term by 3-4 years. Always check if your loan has prepayment penalties first.
Frequently Asked Questions
What is the difference between flat rate and reducing balance interest?
Flat rate calculates interest on the original principal throughout. Reducing balance calculates interest on the outstanding principal after each payment — resulting in lower total interest. Most modern loans use reducing balance.
How do I calculate the maximum loan I can afford?
A general rule is that total EMI payments should not exceed 40-50% of your monthly take-home income.
Does this calculator account for processing fees or insurance?
It calculates pure principal and interest. Add any processing fees to the loan amount to get a more complete picture.