EMI / Loan Repayment Calculator
ガイド
EMI / Loan Repayment Calculator
Calculate your monthly loan EMI (Equated Monthly Installment), view a full amortization schedule, analyze prepayment savings, and compare loan offers side by side. Supports both reducing balance and flat rate methods. All calculations happen instantly in your browser.
使い方
Enter your loan amount, annual interest rate, and tenure (in months or years). Select the calculation method — reducing balance (standard for most banks) or flat rate. Your monthly EMI, total interest, and total repayment amount calculate instantly. Scroll down for the full month-by-month amortization schedule. Use the prepayment section to see how extra payments reduce your total interest and tenure. Compare two loan offers to find the better deal.
特徴
- EMI Calculator — Enter loan amount, interest rate, and tenure to see monthly EMI, total interest payable, total amount payable, and interest-to-principal ratio. Supports reducing balance and flat rate methods.
- Full Amortization Schedule — Month-by-month breakdown showing EMI payment, principal component, interest component, and outstanding balance. Includes yearly summaries.
- CSV Download — Export the complete amortization schedule as a CSV file for spreadsheet analysis or record keeping.
- Prepayment Analysis — See how monthly extra payments or a one-time lump sum prepayment reduces your loan tenure and total interest. Compare original vs prepayment scenarios.
- Loan Comparison — Compare two loan offers side by side with different amounts, rates, and tenures. See which costs less in total interest, EMI difference, and total cost difference.
- Dual Calculation Methods — Reducing balance (interest on outstanding principal — standard for most loans) and flat rate (interest on original principal — common for car loans in some regions).
EMI Formula
Reducing Balance: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P = principal, r = monthly interest rate, n = total months.
Flat Rate: EMI = (P + P × R × T) / (T × 12), where R = annual rate as decimal, T = tenure in years.
よくある質問
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What is EMI?
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan. Each EMI consists of two parts: principal repayment and interest. In the early months of a reducing balance loan, most of your EMI goes toward interest. Over time, the interest portion decreases and the principal portion increases. By the end of the loan, you're mostly paying off principal. EMI remains constant throughout the loan tenure, making it easy to budget for.
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What is the difference between reducing balance and flat rate?
Reducing balance calculates interest on the outstanding (remaining) principal each month. As you pay down the loan, interest decreases and more of your EMI goes toward principal. This is the standard method used by most banks for home loans and personal loans. Flat rate calculates interest on the original loan amount throughout the entire tenure, regardless of how much you've repaid. Flat rate results in higher total interest paid. A 5% flat rate is roughly equivalent to a 9-10% reducing balance rate. Always compare loans using the same method.
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How does prepayment reduce total interest?
When you make extra payments (either monthly additions or lump sum prepayments), the additional amount goes entirely toward reducing your outstanding principal. Since interest is calculated on the remaining principal (in reducing balance), a lower principal means less interest in every subsequent month. This creates a compounding savings effect — even a small monthly extra payment can save significant interest over a long loan tenure and reduce your repayment period by months or years.
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What factors affect EMI amount?
Three factors determine your EMI: loan amount (higher principal = higher EMI), interest rate (higher rate = higher EMI), and loan tenure (longer tenure = lower EMI but more total interest). Increasing tenure reduces monthly burden but dramatically increases total interest paid. For example, a $200,000 loan at 6% costs about $1,199/month over 30 years (total interest: $231,677) versus $1,687/month over 15 years (total interest: $103,788). The shorter loan saves over $127,000 in interest.
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