Advanced EMI Calculator
Go beyond the monthly number: see the full amortization schedule, a principal-vs-interest chart, exactly how much a prepayment would save you, and up to three loan scenarios compared side by side.
Need just the monthly number? Try the basic EMI Calculator instead.
{{ inputError }}
Monthly EMI
{{ fmt(headline.emi) }}
- Total interest
- {{ fmt(headline.totalInterest) }}
- Total payment
- {{ fmt(headline.totalPayment) }}
- Processing fee
- {{ fmt(processingFeeAmount) }}
- Total cost of loan
- {{ fmt(headline.totalInterest + processingFeeAmount) }}
| Year | Principal paid | Interest paid | Closing balance |
|---|---|---|---|
| {{ isYearOpen('base-' + yr.summary.year) ? '▾' : '▸' }}{{ yr.summary.year }} | {{ fmt(yr.summary.principal) }} | {{ fmt(yr.summary.interest) }} | {{ fmt(yr.summary.closingBalance) }} |
| Month {{ row.month }} | {{ fmt(row.principal) }} | {{ fmt(row.interest) }} | {{ fmt(row.closing) }} |
Click a year to expand its monthly breakdown. The first EMI is assumed to fall due one month after the start date.
{{ prepayError }}
Without prepayment
- Tenure
- {{ prepayComparison.baseline.months }} months
- Total interest
- {{ fmt(prepayComparison.baseline.totalInterest) }}
- Total payment
- {{ fmt(prepayComparison.baseline.totalPayment) }}
With prepayment
- Tenure
- {{ prepayComparison.withPrepay.months }} months
- Total interest
- {{ fmt(prepayComparison.withPrepay.totalInterest) }}
- Total payment
- {{ fmt(prepayComparison.withPrepay.totalPayment) }}
Amortization with this prepayment
| Year | Principal paid | Interest paid | Closing balance |
|---|---|---|---|
| {{ isYearOpen('prepay-' + yr.summary.year) ? '▾' : '▸' }}{{ yr.summary.year }} | {{ fmt(yr.summary.principal) }} | {{ fmt(yr.summary.interest) }} | {{ fmt(yr.summary.closingBalance) }} |
| Month {{ row.month }} | {{ fmt(row.principal) }} | {{ fmt(row.interest) }} | {{ fmt(row.closing) }} |
This table already reflects the prepayment — notice it ends {{ prepayComparison.monthsSaved > 0 ? 'earlier than the ' + prepayComparison.baseline.months + '-month schedule without it' : 'at the same time, with a lower EMI from month ' + prepayMonthNum + ' onward' }}.
Compare up to three loan scenarios side by side — the first one is pre-filled from the calculator above.
Fill in valid loan details to see this scenario's numbers.
Enter a loan amount, rate and tenure above to get started.
Every calculation — including the full amortization schedule and any prepayment or comparison scenarios — runs entirely in your browser. Nothing you enter is uploaded to a server.
How the amortization schedule is built
The EMI is fixed using the same reducing-balance formula as the basic calculator. Each month, interest is charged on whatever balance remains, the rest of the EMI reduces the principal, and the balance carries forward — the same arithmetic a bank statement shows, run for every month of the loan rather than just the total.
The very last payment is adjusted so the balance closes to exactly zero, rather than trusting rounding across hundreds of rows to land there on its own.
Reduce tenure or reduce EMI — which prepayment is better?
Both apply the same extra money to your loan, but they spend it differently. Reduce tenure keeps your EMI exactly the same and lets the extra principal payment shorten how long the loan runs — you finish earlier. Reduce EMI keeps your original finish date and instead lowers every future payment, because there's less balance left to charge interest on. Reducing tenure almost always saves more total interest, because the higher payments keep attacking the balance at the original pace instead of easing off — this calculator shows you the exact difference for your own numbers rather than asking you to take that on faith.
Frequently asked questions
How is this different from the basic EMI Calculator?
The basic calculator gives you the monthly EMI, total interest and total payment — one set of numbers. This one adds the full month-by-month amortization schedule, an annual summary, a principal-vs-interest chart, a prepayment simulator, and loan comparison — the tools for actually planning a loan rather than just checking one number.
Why does the last payment in the schedule look slightly different?
It's adjusted deliberately so the balance closes to exactly zero. Rounding every month's payment to the nearest paisa can leave a tiny fraction unaccounted for after hundreds of rows, and the alternative — a schedule that claims a final balance of ₹0.03 — is more confusing than a slightly adjusted last payment.
Reduce tenure or reduce EMI — which should I choose for a prepayment?
Reduce tenure almost always saves more total interest, because your payments stay at the same higher amount and keep attacking the balance at the original pace. Reduce EMI is worth choosing if your goal is lower monthly outgo rather than finishing early — this tool shows the exact numbers for both so you're not choosing blind.
Can I model more than one prepayment?
Not yet — the simulator models a single one-time lump sum or a single recurring extra amount. For multiple separate prepayments, run the calculation for the first one, then use its resulting balance and remaining tenure as the starting point for a second calculation.
What does the loan comparison mode assume?
Each scenario is calculated independently with no prepayment applied, so it's a clean comparison of the underlying loan terms — amount, rate and tenure — exactly as quoted. Combine it with the prepayment tab afterward to see how a specific plan would change your preferred option.
Is my loan information uploaded anywhere?
No. The schedule, chart, prepayment simulation and comparison all run in your browser using JavaScript. Nothing is sent to a server.