EMI Calculator
Plan monthly payments, interest, and payoff dates for mortgages, auto, and personal loans.
Monthly EMI snapshot
Monthly payment
$21,695.58
Total interest
$2,706,939.40
Total paid
$5,206,939.40
Loan paid off by
Nov 2045
240 months
Amortization schedule
Showing 12 of 240 months.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $21,695.58 | $3,987.25 | $17,708.33 | $2,496,012.75 |
| 2 | $21,695.58 | $4,015.49 | $17,680.09 | $2,491,997.26 |
| 3 | $21,695.58 | $4,043.93 | $17,651.65 | $2,487,953.33 |
| 4 | $21,695.58 | $4,072.58 | $17,623.00 | $2,483,880.75 |
| 5 | $21,695.58 | $4,101.43 | $17,594.16 | $2,479,779.32 |
| 6 | $21,695.58 | $4,130.48 | $17,565.10 | $2,475,648.85 |
| 7 | $21,695.58 | $4,159.73 | $17,535.85 | $2,471,489.11 |
| 8 | $21,695.58 | $4,189.20 | $17,506.38 | $2,467,299.91 |
| 9 | $21,695.58 | $4,218.87 | $17,476.71 | $2,463,081.04 |
| 10 | $21,695.58 | $4,248.76 | $17,446.82 | $2,458,832.28 |
| 11 | $21,695.58 | $4,278.85 | $17,416.73 | $2,454,553.43 |
| 12 | $21,695.58 | $4,309.16 | $17,386.42 | $2,450,244.27 |
Loan payoff milestones
- Year 1: $49,755.73 principal cleared.
- 50% balance cleared: around month 166 (14 years)
- Total interest vs. principal: 108.28% of the loan value.
What the EMI calculator covers
Enter the loan amount, annual interest rate, and tenure to instantly see the monthly EMI, total interest, total amount repaid, and the month you become debt-free. Toggle the amortization schedule to inspect each month's principal versus interest split and watch how your balance falls over time.
Pre-paying? Add an extra monthly payment to see the newly accelerated payoff date and interest savings. We model a reducing balance loan, so even a modest prepayment can shave years off long mortgages.
Best practices
- Keep the interest rate and tenure realistic—compare offers from lenders before locking in.
- Use the extra payment field to model annual bonuses or monthly step-ups and measure savings.
- Record the payoff date to plan insurance, emergency funds, and next investments with confidence.
Related planning tools
- Optimise monthly savings with the SIP & ROI calculators.
- Factor in indirect costs using the GST/VAT tax calculator.
Payoff timeline examples
A ₹25 lakh home loan at 8.5% over 20 years yields an EMI of about ₹21k. Paying ₹2k extra each month knocks ~5 years off the term and saves over ₹4 lakh in interest. Similarly, a $30k auto loan at 6% for five years costs ~$580 per month; rounding that up to $650 clears the loan five months sooner.
Use these insights to decide whether refinancing, part-prepayment, or investing is the smarter move for your budget. Always maintain a buffer—never exhaust your emergency fund for aggressive prepayments.
Frequently asked questions
Does the EMI change if rates change? For floating-rate loans, lenders recompute EMI or tenure whenever the benchmark rate shifts. Re-run the calculator with the new rate to see the updated impact.
Can I export the schedule? Copy any table row or screenshot the amortization grid. We're working on CSV export—stay tuned!