EMI Calculator
Work out the monthly installment, total interest and repayment schedule for any loan.
Loan EMI
$21,696
Total Interest Payable
$2,706,939
Total Payment
$5,206,939
Total
$5,206,939
Amortization Schedule
Principal, Interest & Balance
Payment Schedule
| Period | Principal | Interest | Total Payment | Balance | Loan Paid to Date |
|---|---|---|---|---|---|
| 2026 | $49,755 | $210,591 | $260,346 | $2,450,244 | 2.0% |
| 2027 | $54,153 | $206,194 | $260,347 | $2,396,091 | 4.2% |
| 2028 | $58,942 | $201,407 | $260,349 | $2,337,150 | 6.5% |
| 2029 | $64,150 | $196,197 | $260,347 | $2,273,000 | 9.1% |
| 2030 | $69,820 | $190,525 | $260,345 | $2,203,180 | 11.9% |
| 2031 | $75,990 | $184,353 | $260,343 | $2,127,188 | 14.9% |
| 2032 | $82,710 | $177,639 | $260,349 | $2,044,479 | 18.2% |
| 2033 | $90,018 | $170,328 | $260,346 | $1,954,459 | 21.8% |
| 2034 | $97,976 | $162,368 | $260,344 | $1,856,482 | 25.7% |
| 2035 | $106,634 | $153,710 | $260,344 | $1,749,846 | 30.0% |
| 2036 | $116,063 | $144,286 | $260,349 | $1,633,783 | 34.6% |
| 2037 | $126,323 | $134,027 | $260,350 | $1,507,462 | 39.7% |
| 2038 | $137,488 | $122,859 | $260,347 | $1,369,974 | 45.2% |
| 2039 | $149,640 | $110,708 | $260,348 | $1,220,335 | 51.2% |
| 2040 | $162,867 | $97,480 | $260,347 | $1,057,468 | 57.7% |
| 2041 | $177,262 | $83,085 | $260,347 | $880,206 | 64.8% |
| 2042 | $192,933 | $67,417 | $260,350 | $687,275 | 72.5% |
| 2043 | $209,985 | $50,364 | $260,349 | $477,291 | 80.9% |
| 2044 | $228,544 | $31,802 | $260,346 | $248,746 | 90.1% |
| 2045 | $248,746 | $11,602 | $260,348 | $0 | 100.0% |
Flat vs Reducing Balance
The same loan amount, rate, tenure and start date, run through both interest methods — flat rate always costs more because interest never reduces as you repay.
| Metric | Reducing Balance | Flat Interest | Difference |
|---|---|---|---|
| Monthly EMI | $21,696 | $28,125 | +$6,429 |
| Total Interest | $2,706,939 | $4,250,000 | +$1,543,061 |
| Total Amount | $5,206,939 | $6,750,000 | +$1,543,061 |
Reducing Balance
$5,206,939
Flat Interest
$6,750,000
Frequently Asked Questions
How the Numbers Are Calculated
For a reducing-balance loan, the EMI is calculated using the standard amortization formula, then applied every month: interest is charged on the balance still outstanding, and whatever is left of the EMI reduces the principal.
For a flat-rate loan, total interest is calculated up front on the original loan amount for the full tenure, added to the principal, and divided evenly across every installment — so principal and interest are identical in every EMI.
EMI (Reducing Balance)
EMI = P × i × (1 + i)^n / ((1 + i)^n − 1)
EMI (Flat Interest)
EMI = (P + P × r × years) / n
- P = loan amount, i = annual interest rate ÷ 12 (monthly rate), r = annual interest rate, n = number of months.
- In the reducing-balance schedule, each month's interest = outstanding balance × i, and principal = EMI − interest.
- In the flat-rate schedule, each month's principal and interest are both a fixed 1/n share of the loan amount and total interest respectively.
- The final installment in either method is adjusted so the outstanding balance lands at exactly zero, absorbing any rounding drift from earlier months.
- All figures are rounded only at the point they are displayed, never mid-calculation.