EMI calculator & prepayment planner
Home, car, personal or credit-card loan, including Amazon and Flipkart EMIs: see your EMI, the true total cost with processing fee and GST, where every rupee goes month by month, and how much interest a prepayment saves you.
Charged once, at booking, plus GST.
Days from booking to your first statement, if your lender charges interest for them. Leave 0 if your letter shows EMI 0 as ₹0.
Prepayments
Lump sums (bonus, maturity) or a regular top-up. Each is paid along with that month’s EMI.
Outstanding balance
Amortization schedule
Tap a year to see its months. By financial year, the interest and principal columns are the figures you need for home-loan deductions in your return.
EMI uses the standard reducing-balance formula with interest computed monthly; your lender may differ by a few rupees through rounding or daily-balance interest. RBI does not allow prepayment or foreclosure penalties on floating-rate loans taken by individuals for non-business purposes; fixed-rate loans may carry a charge, so check your agreement. With GST on interest switched on, GST is added to each month’s interest and billed on top of the EMI, the way card issuers do it; it applies even to “no-cost” EMIs, where the interest is offset by an upfront discount. The processing fee and its GST, and any initial (EMI 0) interest worked out as loan × yearly rate × days ÷ 360, are added to the total cost. Card EMI letters often round the monthly rate (1.42% a month is usually 17% a year), so enter the yearly rate when you know it. Calculations run in your browser and are saved only on this device. Not financial advice. Buying on EMI at Amazon or Flipkart? The no-cost & card EMI calculator is simpler for that.
About this calculator
Work out the monthly EMI on a home loan, car loan, personal loan or a credit-card EMI on Amazon, Flipkart and other sites, and see the full amortization schedule: how much of each instalment goes to interest and how much reduces the principal, grouped by financial year or calendar year.
Add one-time or recurring prepayments to see the interest you save and how many months earlier the loan closes, and compare keeping the EMI (shorter tenure) with keeping the tenure (lower EMI). Download the schedule as CSV. Everything runs in your browser; nothing is uploaded.
Frequently asked questions
- How is EMI calculated?
- EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the annual rate ÷ 12 (as a decimal) and n is the number of monthly instalments.
- Should I reduce my EMI or my tenure after a prepayment?
- Keeping the EMI and reducing the tenure saves more interest, because the balance falls faster. Reducing the EMI eases monthly cash flow but saves less. The calculator shows both.
- What does a credit-card or “no-cost” EMI on Amazon or Flipkart really cost?
- On a card EMI you pay interest plus 18% GST on that interest each month, and a one-time processing fee plus GST. On a “no-cost” EMI the seller gives a discount equal to the interest, but the GST on interest and the processing fee are still yours to pay. Switch on GST on the interest and enter the fee to see the total cost and the effective yearly rate.
- Why doesn’t my EMI match my bank’s letter exactly?
- Card EMI letters usually show a rounded monthly rate: 1.42% a month is normally 17% a year (1.4167% a month). Enter the yearly rate and the schedule will match to the rupee.
- Is there a penalty for prepaying a home loan?
- RBI does not allow banks and NBFCs to charge prepayment or foreclosure penalties on floating-rate loans taken by individuals for non-business purposes. Fixed-rate loans can carry a charge; check your loan agreement.