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EMI Calculator – Monthly Payment, Total Interest & Amortization Schedule (Free Online)

EMI Calculator – Monthly Payment, Total Interest & Amortization Schedule

Use this free EMI Calculator to compute your monthly payment, total interest, and payoff date. View a full amortization schedule, add extra monthly payments, apply a one-time prepayment, and export to CSV. Everything runs in your browser—no data saved.

EMI Calculator

Used to show month labels & payoff date
Prepayment & Extra
1 = first month
Monthly compounding with equal payments; schedule shortens with extra/prepayment.

How This EMI Calculator Works

  • EMI formula: uses monthly rate from the annual percentage you enter, with fixed monthly payments.
  • Amortization: each month’s payment splits into interest and principal; balance reduces over time.
  • Extra & prepayment: extra monthly payments and a one-time prepayment reduce the principal and shorten the schedule.
  • Payoff date: shown using the selected start month; otherwise shown as “Month #”.
  • CSV export: download the schedule for further analysis.

FAQ – EMI Calculator

Can I enter tenure in months?

Yes. Change the unit to Months and enter the exact number (e.g., 240 for 20 years).

What if the interest rate is 0%?

The EMI becomes principal ÷ months, with interest = 0 for all periods.

How are extra payments applied?

They’re added to the principal portion each month after interest, reducing balance faster. The loan term shortens automatically.

What is “Prepayment Month #”?

The month number (1 = first) when the one-time prepayment is applied together with that month’s payment.

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