Skip to content
TaskNinja

HomeToolsEMI Calculator

EMI Calculator

Home, car or personal loan EMI with amortisation and prepay.

EmiCalcFreeNo signupOn your device
Opening the tool…

What this tool does

EMI Calculator works out your monthly loan payment, total interest and a full amortisation table in your browser, with an optional part-prepayment view.

How to use it

  1. Enter the loan amount. Use a preset for home, car, personal or education if you want a starting point for amount and tenure.

  2. Type the yearly interest rate your lender quoted. We do not publish bank rates because they change by product and borrower.

  3. Set the tenure in years and extra months. The EMI, total interest and total payment update as you type.

  4. Optional: add a lump-sum prepayment, pick the month, and choose reduce tenure or reduce EMI to see interest and time saved.

  5. Open the yearly or monthly table, read the interest vs principal chart, then Copy summary or download CSV or PDF.

Common uses

Home, car, personal and education loans in India are quoted with a monthly reducing-balance EMI. The formula is EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly rate (yearly rate divided by 12 and by 100), and n is the number of months. At zero interest, EMI is simply the loan divided by the months. This page uses that formula and rounds each month to the nearest rupee, with the last instalment clearing any leftover so the closing balance is zero.

Most free EMI pages stop at one number. Here you also get a year-by-year summary, a month-by-month schedule (first 12 rows, then Show all), and a black-and-white chart of interest versus principal so you can see how early years are mostly interest. That helps when you are comparing a 15-year home loan with a 20-year one, or a shorter car loan with a higher EMI.

Part prepayment is the main differentiator. Enter a lump sum and the month you plan to pay it. Reduce tenure keeps the same EMI and finishes earlier, which usually saves more interest. Reduce EMI keeps the original end date and lowers the monthly payment after the prepay month. The page shows interest saved, months saved, and the new EMI, so you can compare both choices before you ask the bank.

Presets for home, car, personal and education loans fill only the amount and tenure. They do not invent an interest rate. Type the rate from your sanction letter, bank app or NBFC quote. Processing fees, insurance and floating-rate resets are outside this estimate.

Download the schedule as CSV for a spreadsheet, or as PDF to keep with your loan papers. Both are built in this tab. Nothing you type is uploaded.

Private, and the limits

Loan amounts and rates are private. Everything here is worked out by code running in your browser tab. Nothing you type is sent to TaskNinja, saved, or logged, and there is no account. We only count anonymous events such as the calculator being used, never the amounts.

This is an estimate for a standard reducing-balance loan with monthly compounding. It does not include processing fees, GST on fees, insurance premiums, floating-rate resets or prepayment penalties your lender may charge. For a sanction letter figure, use your bank or NBFC calculator or ask the branch.

FAQ

What is the EMI formula?
EMI = P x r x (1+r)^n / ((1+r)^n - 1). P is the loan, r is the monthly interest rate, n is the number of months. At 0% interest, EMI is P divided by n.
Should I reduce tenure or reduce EMI after a prepayment?
Reduce tenure usually saves more interest and finishes the loan earlier. Reduce EMI lowers the monthly outflow and keeps the original end date. Try both on this page with your numbers.
Why do you not show bank interest rates?
Rates differ by lender, product, loan-to-value and credit score, and they change often. Showing a single rate would be misleading. Type the rate in your quote or sanction letter.
Is the amortisation table month by month?
Yes. The yearly view is open by default. Switch to the monthly table for every instalment. Long schedules show the first 12 rows with a Show all button so the card does not scroll inside itself.
Can I download the schedule?
Yes. Download CSV for Excel or Google Sheets, or PDF for printing. Both are built in your browser.
Is my loan data uploaded?
No. Loan figures stay in this browser tab. TaskNinja never receives the amount, rate or tenure you type.

Related tools

Income Tax CalculatorOld vs new regime tax for FY 2026-27, in your browser.TaxCompare
QR Code GeneratorMake a QR for a link, UPI payment, WhatsApp, or WiFi.QRMake
Compress PDFMake a PDF smaller for a form or a portal.PDFSqueeze

Income tax calculatorHow to calculate home loan EMI (with prepayment examples)Guides on the blogAll tools