EMI Calculator
Calculate your exact monthly payments, total interest, and visualize your loan repayment schedule instantly.
Loan Parameters
Adjust the sliders to see instant results.
The total amount you plan to borrow.
Annual interest rate offered by the lender.
Duration of the loan repayment.
Outstanding Balance
Visualizing your loan balance dropping to zero over time.
Monthly EMI
Amount required each month
Total Interest
₹19,31,328
Total Payment
₹44,31,328
Payment Breakdown
Amortization Schedule
| Month | Principal | Interest | Total Payment | Balance |
|---|---|---|---|---|
| 1 | ₹6,910 | ₹17,708 | ₹24,618 | ₹24,93,090 |
| 2 | ₹6,959 | ₹17,659 | ₹24,618 | ₹24,86,131 |
| 3 | ₹7,008 | ₹17,610 | ₹24,618 | ₹24,79,122 |
| 4 | ₹7,058 | ₹17,560 | ₹24,618 | ₹24,72,064 |
| 5 | ₹7,108 | ₹17,510 | ₹24,618 | ₹24,64,956 |
| 6 | ₹7,158 | ₹17,460 | ₹24,618 | ₹24,57,798 |
| 7 | ₹7,209 | ₹17,409 | ₹24,618 | ₹24,50,589 |
| 8 | ₹7,260 | ₹17,358 | ₹24,618 | ₹24,43,329 |
| 9 | ₹7,312 | ₹17,307 | ₹24,618 | ₹24,36,017 |
| 10 | ₹7,363 | ₹17,255 | ₹24,618 | ₹24,28,654 |
| 11 | ₹7,416 | ₹17,203 | ₹24,618 | ₹24,21,238 |
| 12 | ₹7,468 | ₹17,150 | ₹24,618 | ₹24,13,770 |
Planning for a new home, car, or personal loan? Our EMI calculator helps you instantly figure out your monthly payment, total interest, and repayment schedule with visual charts and detailed amortization tables.
What is an EMI?
EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
Why Use Utilo's EMI Calculator?
- ✓Instant, real-time EMI calculations as you adjust sliders
- ✓Visual interactive Donut Chart for Principal vs Interest breakdown
- ✓Loan Balance Line Chart to see your debt reduce over time
- ✓Detailed Amortization Table showing month-by-month repayment
- ✓Fast presets for common loan amounts and interest rates
- ✓Toggle seamlessly between Months and Years for tenure
- ✓Download your EMI report to PDF instantly
Key Features
How to Calculate Your EMI
- 1Enter your Principal Loan Amount using the slider or text box.
- 2Set your Annual Interest Rate provided by your bank.
- 3Choose your Loan Tenure (duration) in either Months or Years.
- 4Your Monthly EMI, Total Interest, and Total Amount will update instantly.
- 5Scroll down to view detailed charts and your complete repayment schedule.
Formula & Calculation Logic
EMI = [P x R x (1+R)^N]/[(1+R)^N-1] Where: P = Principal Loan Amount R = Rate of Interest per month (Annual Rate / 12 / 100) N = Total number of monthly installments
Frequently Asked Questions
Does the EMI calculator include processing fees?
No, this calculator strictly computes the EMI based on principal, interest rate, and tenure. Banks may charge additional processing fees, insurance, or document charges.
Are EMIs always fixed?
If you opt for a Fixed Rate Loan, your EMI remains constant. If you opt for a Floating Rate Loan, your EMI or loan tenure may change if the central bank changes baseline interest rates.
Is it better to have a shorter or longer tenure?
A shorter tenure increases your monthly EMI but significantly reduces the total interest you pay. A longer tenure reduces your monthly burden but costs much more in total interest.
Can I prepay my loan to reduce EMI?
Yes, prepaying a lump sum reduces your outstanding principal. This usually allows you to either lower your future EMI or shorten your remaining loan tenure.
Is this calculator accurate for all types of loans?
Yes, the underlying mathematical formula is identical whether it is a Home Loan, Car Loan, Personal Loan, or Education Loan.