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100% Free & Private Loan Calculator

Loan EMI Calculator

Calculate your EMI, total interest, repayment schedule and see how prepayments can save you money.

🔒 100% Private Browser CalculationReducing Balance EMIPrepayment SimulatorPDF Report & Print
Select Loan Type Preset
Loan Details
₹10,00,000
₹
₹50 Thousand₹1 Crore₹2 Crore
8.5%
% p.a.
1%12%25%
1 Year15 Years30 Years
Your Calculated Monthly EMI

₹12,399/ month

Principal₹10.00 Lakh
Total Interest₹4.88 Lakh
Total Repayment₹14.88 Lakh
Principal (67.2%)Interest (32.8%)
Prepayment Simulator

See how a one-time extra payment can reduce your total loan interest or tenure.

Simulation Results (Reduce Tenure)

Interest Saved₹1,02,907
Time Saved16 Months

* Actual savings may differ if your lender charges prepayment fees or uses different repayment rules.

Repayment Amortization Schedule
YearPrincipal PaidInterest PaidTotal PaymentClosing Balance
Year 1₹66,326₹82,456₹1,48,788₹9,33,673
Year 2₹72,189₹76,593₹1,48,788₹8,61,483
Year 3₹78,571₹70,212₹1,48,788₹7,82,912
Year 4₹85,514₹63,266₹1,48,788₹6,97,396
Year 5₹93,075₹55,708₹1,48,788₹6,04,321
Year 6₹1,01,301₹47,480₹1,48,788₹5,03,019
Year 7₹1,10,258₹38,528₹1,48,788₹3,92,763
Year 8₹1,20,002₹28,781₹1,48,788₹2,72,762
Year 9₹1,30,609₹18,174₹1,48,788₹1,42,153
Year 10₹1,42,153₹6,630₹1,48,788₹0
Financial Disclaimer:Calculations are estimates based on entered assumptions. Actual EMI, interest and repayment terms may differ based on lender-specific calculations, processing fees, taxes, and rate adjustments.

Frequently Asked Questions

Everything you need to know about loan EMI calculations

What is EMI?

Equated Monthly Installment (EMI) is a fixed monthly payment made by a borrower to a lender on a specified date each month to pay off a loan.

How is EMI calculated?

EMI is calculated using the reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal loan amount, r is monthly interest rate, and n is total months.

How does prepayment reduce loan interest?

Making an extra lumpsum prepayment directly reduces your outstanding loan principal. Because interest is charged on the remaining balance, reducing principal significantly lowers your total interest payable.

Is it better to reduce EMI or loan tenure after prepayment?

Reducing loan tenure saves significantly more interest because your loan is paid off faster. Reducing EMI lowers your monthly financial burden while keeping the original loan tenure.

Can I calculate home loan, car loan or personal loan EMIs?

Yes! ToolJi's EMI calculator works for all standard reducing-balance loans including Home Loans, Car Loans, Personal Loans, Education Loans, and Business Loans.

Does ToolJi store my financial information?

No. 100% of the loan calculation happens locally inside your browser. No financial data is ever sent to or stored on any server.