Loans
Loan EMI Calculator
Work out the monthly instalment on a home, car or business loan, see how much goes to interest, and get a year-by-year repayment schedule.
Year-by-year repayment schedule
| Year | Opening balance | Paid in the year | Interest | Principal | Closing balance |
|---|
Good to know
- EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments.
- In the early years most of each instalment goes towards interest; the principal share grows as the balance falls. The schedule shows this year by year.
- Assumes a fixed rate for the whole tenure with instalments starting one month after the loan is paid out. With a floating rate, the lender changes the EMI or the tenure when rates move.
- Processing fees, insurance, pre-payments and any moratorium are not included. Lenders may round instalments differently.
These tools give general estimates for information only. They are not professional advice and may not reflect your full circumstances or the latest amendments. Please consult us before acting.