EMI calculator
Your monthly instalment, what it costs you in total, and the month-by-month schedule behind it.
| Month | Payment | Principal | Interest | Balance |
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Questions people ask
How is EMI calculated?
EMI = P·r·(1+r)n ÷ ((1+r)n − 1), where P is the amount borrowed, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Every instalment is the same size — what changes month to month is how much of it is interest and how much reduces the balance.
Why does my balance barely move at the start?
Because interest is charged on the outstanding balance, which is at its largest in the beginning. Early instalments are mostly interest with only a sliver of principal, and the ratio flips over the life of the loan. The schedule shows exactly when that crossover happens for your numbers.
Is my loan information uploaded?
No. It is all arithmetic performed in your browser, and the uploads counter in the top bar stays at 0. What you earn, what you owe and what you are thinking of borrowing is nobody else's business — least of all a website's.
Is this an official quote?
No. This is the standard reducing-balance formula lenders use, but an actual offer may add processing fees or insurance, use a different compounding convention, or carry a rate that changes over time. Use it to compare options, not as a contract.
Can I share the numbers?
Yes — the copy-link button packs the loan figures into the URL itself. Nothing is stored on a server to make that link work.
How this works & why it’s private
The instalment comes from the standard reducing-balance EMI formula, and the schedule is then built by simulating the loan one month at a time: charge interest on the outstanding balance, subtract the rest of the instalment from the principal, repeat. The final instalment absorbs the accumulated rounding so the balance lands exactly on zero rather than a few units off. A zero-interest loan is handled as its own case, because the general formula divides by zero when the rate is zero — which is why several online calculators return NaN for interest-free loans. All of it runs in your browser; nothing about your finances is transmitted.