Loan EMI Calculator with Amortization Schedule & Prepayments

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly rate (annual % ÷ 12 ÷ 100) and n the number of months. For $100,000 at 6% for 30 years, that is $599.55 a month. Enter the amount, rate and term and the calculator does it instantly.

It is a payment-by-payment table showing how much of each EMI goes to interest and to principal, and the balance left afterwards. Early payments are mostly interest; later ones are mostly principal. You can view it monthly or yearly and download it as CSV.

Reducing the tenure saves more interest because you keep paying the same amount and finish sooner. Reducing the EMI gives you lower payments but keeps the original end date. Try both in the calculator to see the difference in total interest.

Every extra payment reduces the principal straight away, so you stop paying interest on it. On a 30-year $100,000 loan at 6%, an extra $100 a month saves about $40,000 and roughly 9 years. Enter any extra amount to see your exact savings and new debt-free date.

A flat rate charges interest on the full original loan for the whole term; a reducing balance rate charges interest only on what you still owe. An 8% flat rate is roughly a 14% reducing rate. The calculator shows the equivalent reducing rate when you pick flat.

APR includes upfront fees as well as interest, expressed as a yearly rate. Enter the processing fee and the calculator solves for the APR, which is the fairest way to compare loans with different fees.

Most lenders allow total debt payments of about 28–43% of gross monthly income. In Affordability mode, enter your income, the ratio and existing debts and the tool shows the maximum loan at your rate and term.

Yes. Paying half your monthly EMI every two weeks adds up to 13 monthly payments a year instead of 12. On a long mortgage that typically cuts several years and a large amount of interest. The calculator estimates the saving for your loan.

With a floating rate, lenders either raise the EMI or extend the tenure. Turn on the rate change option, set the new rate and the month it starts, and see the effect on your payments and total interest.

Yes. The maths is the same for any amortizing loan: mortgages, home loans, auto loans, personal, student and business loans. Pick the loan type to load typical defaults, then adjust to your offer.

Nothing is uploaded. Your inputs are saved only in your browser so they are there next time, and the Share button creates a link that contains the numbers, not any personal details.

A fixed rate stays the same for the entire loan term, making EMIs predictable. A floating rate changes with market conditions (like RBI/Fed rates), so your EMI can go up or down. Fixed rates are safer; floating rates can be lower initially.

The Rule of 72 estimates how long it takes for debt to double at compound interest. Divide 72 by the annual interest rate: at 8% interest, debt doubles in 9 years (72 ÷ 8 = 9). This shows why paying off high-interest debt quickly is so important.

Interest accrues on the remaining balance, so paying extra early erases interest on all the months that follow, the calculator shows exactly how much.