CreditBriefAdd your pay

EMI, amortisation and prepayment calculator

Work out the EMI, total interest and yearly schedule, and see what an extra monthly payment saves.

CalculatorRuns in your browser

Indicative only. Verify against your institution's policy. Nothing you type into the calculator leaves this page.

Your figures

Result

Enter figures, or load the made-up example, to see results.

Keep this result

Get your inputs, results and the formulas as a spreadsheet you can attach to a credit note. Your figures stay on this page: only your name and email are sent.

Add role and company optional

Formulas used

EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), with r the monthly rate and n the months

Each month: interest = balance x r, and principal = EMI - interest + any extra payment

Worked example, made-up numbers

Loan 10,00,000 at 10% for 120 months gives an EMI of 13,215. Paying 2,000 more each month cuts total interest and closes the loan early.

Assumptions

  • Fixed rate, monthly rests, and no prepayment charges.
  • Actual lender schedules may round differently.