EMI Calculator Pro
Calculate the monthly instalment on a loan from the amount, the yearly interest rate and the term, then see how extra payments change the total interest and the end date. Free preview · Pro required to export. See the EMI, totals and the full schedule on screen free. The CSV download requires Pro.
Free preview · Pro required to export. See the EMI, totals and the full schedule on screen free. The CSV download requires Pro.
Why use this tool?
- Knowing the instalment before you sign shows whether a loan fits your monthly budget.
- The total interest over the whole term is often far more than people expect, and the split of each payment between interest and principal shows why.
- Extra payments are a common way to save interest, but the saving depends on when and how much you pay.
- A downloadable schedule can be shared with a partner or an adviser, or opened in a spreadsheet.
How to use EMI Calculator
- Enter the Loan amount and choose a Currency.
- Set the Interest rate (per year) and the Tenure in months with the sliders. Tenure ranges from 1 to 360 months.
- Read the Monthly EMI, Total interest, Total payable, Interest share and Actual term in the Summary.
- To test prepayment, enter an amount in Extra with every instalment, or a One-off lump sum and the month it is paid in.
- Scroll to the schedule and switch between Month by month and Year by year.
- Press Download CSV to save the schedule, or Copy in the Summary for a text overview.
Features
- Monthly EMI calculated from the standard reducing-balance formula
- Rates from 0% to 30% per year and tenures from 1 to 360 months
- Seven currencies for formatting: INR, USD, EUR, GBP, AED, AUD and CAD
- Optional monthly extra payment and a one-off lump sum in a chosen month
- Interest saved and months saved compared with the same loan without prepayment
- Full amortisation schedule, month by month or by year
- Export of the schedule as a CSV file
Supported formats
Takes numbers for amount, rate and term. The schedule downloads as a CSV file with Month, Payment, Principal, Interest and Balance columns.
Tips
- The EMI is calculated as P x r x (1+r)^n divided by ((1+r)^n - 1), where r is the annual rate divided by 12 and 100. Lenders may round or compute from exact days, so a quote can differ by a small amount.
- Prepayments here shorten the loan and leave the EMI unchanged. Some lenders instead lower the EMI, so check which rule yours follows.
- Fees, insurance, floating-rate changes and prepayment charges are not included. The figures show interest only.
- Try a small extra amount with every instalment; the Months saved figure shows how much faster the loan ends.
Frequently asked questions
How is EMI calculated?
With the reducing-balance formula: principal times monthly rate times (1 + monthly rate) to the power of the number of months, divided by that same power minus one. At a 0% rate it is simply the amount divided by the number of months.
Does the currency change the calculation?
No. The currency only controls how the amounts are formatted. The same numbers work for any currency.
How does prepayment affect the loan?
The extra goes to principal, so interest falls each month and the loan finishes sooner. The monthly EMI stays the same. The summary shows the interest and months saved against the same loan without prepayment.
Why does my bank show a slightly different EMI?
Banks may round figures, charge processing fees, use daily balances or change a floating rate during the term. This tool uses a fixed rate and equal monthly instalments.
Can I save the repayment schedule?
Yes. Download CSV saves every row, and the CSV opens in any spreadsheet program.
Is my loan information stored?
No. The figures are calculated in your browser and are not sent or stored.
Can I try this Pro tool without an account?
Yes. See the EMI, totals and the full schedule on screen free. The CSV download requires Pro. Your own input is processed locally in your browser.
Will upgrading keep my work?
Checkout and login open in a separate tab. Keep the workspace open to retain inputs, settings and previews. Files stay in that tab only; keep the originals in case you close or reload it. Export access is checked with the server after payment.
Your files are processed directly in your browser and are not uploaded to HubToolify's servers.