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Primax Tools

EMI / Loan Calculator

Work out your monthly installment, total interest and the full month-by-month repayment schedule for any fixed-rate loan.

Runs entirely in your browser. Nothing is uploaded.

Loan repayment schedule

Principal 250,000.00 · 7.5% p.a. · 240 months

Monthly payment (EMI)
2,013.98
240 payments
Total interest
233,356.92
93.3% of principal
Total repayment
483,356.92

Repayment by year

PrincipalInterest
Year 1Year 20
Amortization schedule
YearPrincipalInterestBalance
15,607.9318,559.83244,392.07
26,043.2818,124.48238,348.79
36,512.4417,655.32231,836.35
47,018.0117,149.75224,818.34
57,562.8516,604.91217,255.49
68,149.9716,017.79209,105.52
78,782.6715,385.09200,322.85
89,464.5014,703.26190,858.35
910,199.2513,968.51180,659.10
1010,991.0613,176.70169,668.04
1111,844.3112,323.45157,823.73
1212,763.8111,403.95145,059.92
1313,754.7110,413.05131,305.21
1414,822.539,345.23116,482.68
1515,973.238,194.53100,509.45
1617,213.276,954.4983,296.18
1718,549.565,618.2064,746.62
1819,989.634,178.1344,756.99
1921,541.482,626.2823,215.51
2023,215.51953.970.00

Amounts are rounded to cents each month; the final payment absorbs any rounding difference so the balance ends at exactly 0.00. Estimates exclude fees, insurance and taxes.

Step by step

How to use the EMI / Loan Calculator

  1. 1

    Enter the loan amount (principal).

  2. 2

    Enter the annual interest rate.

  3. 3

    Enter the term and choose months or years.

  4. 4

    Review the EMI, total interest and total repayment, then explore the schedule and chart.

  5. 5

    Copy the summary or print the full results.

What it does well

Standard EMI formula

Uses the reducing-balance method used by banks for home, car and personal loans.

Zero-interest support

A 0% rate is handled as principal divided evenly across the term, with no division errors.

Cent-accurate schedule

Every payment is rounded to cents, with the final payment adjusted so the balance ends at exactly zero.

Repayment chart

A yearly chart shows how each year's payments split between principal and interest.

Copy and print

Copy a text summary or print the schedule from your browser.

Who uses it

Home buyers
Compare mortgage terms and see how much interest a shorter term saves.
Car buyers
Check whether a dealer finance offer matches the quoted rate.
Small businesses
Plan cash flow for equipment loans.

The EMI formula

An equated monthly installment is calculated as EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate divided by 12 and by 100) and n is the number of monthly payments. Each month, interest is charged on the outstanding balance and the rest of the payment reduces the principal. Early payments are mostly interest; later payments are mostly principal.

For example, borrowing 250,000 at 7.5% for 20 years gives 240 payments of about 2,013.98, a total repayment of roughly 483,356 and total interest of about 233,356.

What this calculator does not include

Real loans can include processing fees, insurance, taxes, variable rates, daily interest accrual and different compounding conventions. Your lender's figures may differ by a few cents per month because of rounding rules. Use this tool for planning and comparison, and rely on your lender's official schedule for contractual amounts.

Frequently asked questions

What is the difference between EMI and total repayment?

EMI is the monthly payment. Total repayment is all payments added together, and total interest is total repayment minus the principal.

Does it handle 0% interest loans?

Yes. The principal is divided evenly across the months, with any rounding remainder added to the last payment.

Can I enter the term in years?

Yes. Switch the unit between months and years; years are converted to monthly payments.

Is this financial advice?

No. Results are estimates for planning. Confirm all figures with your lender.

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