| Year | Principal Paid | Interest Paid | Balance |
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EMI Calculator – Calculate Loan EMI, Interest & Repayment Schedule
The PlanMyReturns EMI Calculator helps you understand the true cost of a loan before you borrow.
It calculates:
- Monthly EMI
- Total interest payable
- Total repayment amount
- Interest vs principal breakup
- Monthly and yearly repayment schedule
You can also reverse-calculate the loan amount, tenure, or interest rate if you already know your EMI.
What Is EMI?
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan.
Each EMI has two parts:
- Principal repayment
- Interest on outstanding balance
In the early years, EMIs are interest-heavy. Over time, the principal portion increases.
Why Use an EMI Calculator Before Taking a Loan?
People usually search for an EMI calculator to answer questions like:
- How much EMI will I pay for my loan?
- How much interest will the bank charge overall?
- Can I afford this EMI comfortably?
- How does prepayment reduce interest?
- What loan amount fits my EMI budget?
This calculator is built to answer all of these clearly.
What This EMI Calculator Calculates
Using this calculator, you can find:
- Monthly EMI amount
- Total loan repayment
- Total interest paid over loan tenure
- Processing fee impact
- Interest-to-principal ratio
- Complete monthly repayment schedule
- Year-wise principal repayment chart
All calculations follow standard banking formulas.
Loan Period: Years or Months (Flexible)
Your loan tenure can be entered as:
- Years (for home loans, education loans)
- Months (for personal loans, short-term loans)
The calculator automatically converts everything into monthly calculations internally.
Reverse EMI Calculator (Advanced Feature)
This is one of the most searched EMI use cases, and your calculator supports it fully.
You can calculate:
1. EMI from Loan Amount
Enter loan amount, interest rate, and tenure.
2. Loan Amount from EMI
If you know how much EMI you can afford, the calculator tells you how much loan you can take.
3. Loan Tenure from EMI
Find out how many months or years it will take to repay the loan.
4. Interest Rate from EMI
Estimate the effective interest rate if EMI, loan amount, and tenure are known.
This makes the tool useful not just for borrowers, but also for planning affordability.
Processing Fee Impact
Banks often charge a one-time processing fee, usually as a percentage of the loan amount.
The calculator:
- Calculates processing fee amount
- Shows it separately from EMI
- Helps you understand total upfront cost
This is especially important for personal and business loans.
Pre-Payment Impact (Yearly)
If you plan to make yearly prepayments, the calculator shows:
- How prepayment reduces outstanding balance
- How total interest paid decreases
- Faster loan closure impact
Even small prepayments can save lakhs in interest over long tenures.
EMI Calculation Formula
The standard EMI formula used is:
EMI = P × r × (1 + r)ⁿ / [ (1 + r)ⁿ − 1 ]
Where:
- P = Loan amount
- r = Monthly interest rate
- n = Number of monthly installments
The calculator applies this formula dynamically, including reverse calculations.
EMI Example
Suppose you take a loan of ₹10,00,000 at 8.5% interest for 20 years.
- Monthly EMI: ~₹8,678
- Total repayment: ~₹20.8 lakh
- Total interest paid: ~₹10.8 lakh
This shows how interest can exceed the principal over long tenures.
EMI Breakdown Charts
The calculator provides two visual insights:
1. Principal vs Interest Chart
Shows how much of your total payment goes toward interest.
2. Year-Wise Principal Repayment Chart
Shows how principal repayment increases every year.
These visuals make loan costs easier to understand at a glance.
Monthly Repayment Schedule
You also get a detailed table showing:
- EMI for each month
- Principal paid
- Interest paid
- Remaining balance
- Cumulative interest
For performance, the table shows key months on screen, while the full schedule is downloadable.
How to Use the EMI Calculator
- Enter loan amount
- Enter interest rate
- Enter loan period (years or months)
- Optionally enter EMI to reverse-calculate
- Add processing fee or prepayment if applicable
- Click Calculate EMI
You can also download or share the results.
Common Loan Types You Can Use This For
- Home loan EMI
- Car loan EMI
- Personal loan EMI
- Business loan EMI
- Education loan EMI
The calculation logic works for all standard reducing-balance loans.
EMI Calculator vs Manual Calculation
| Feature | Manual | This Calculator |
|---|---|---|
| EMI accuracy | Error-prone | Accurate |
| Reverse calculation | Not possible | Supported |
| Prepayment impact | Hard | Instant |
| Charts & schedule | No | Yes |
Why PlanMyReturns EMI Calculator Is Better
- Supports reverse EMI calculations
- Shows true loan cost clearly
- Includes prepayment and fees
- Visual charts for clarity
- Downloadable repayment schedule
- Shareable loan plans
- No login required