Core Calculators
EMI Calculator
Calculate monthly EMI, total interest, and full repayment schedule
Loan details
₹
%
yrs
Monthly EMI
₹0
How EMI is calculated
EMI uses the reducing-balance method used by banks in India.
EMI = P × r × (1+r)n / ((1+r)n − 1)
Why use it
Detailed features
Bank-standard
Reducing-balance EMI formula.
Full schedule
Monthly and yearly breakdown tables.
Export reports
Download PDF or CSV with Toolance branding.
On the go
Also in the Toolance app.
Frequently asked questions
EMI is the fixed amount you pay every month until the loan is cleared. Each EMI has a principal part and an interest part. The bank uses your loan amount, rate and tenure to fix this number.
Banks use the reducing balance method. Interest is charged on the outstanding principal, so the interest portion drops over time while principal goes up. Our tool follows the same standard formula lenders use.
Yes. After you enter loan details, use Export PDF or Export CSV to download the full yearly and monthly breakdown. PDF reports include Toolance branding and www.toolance.com on every page.
Yes, spreading the loan over more years brings down the monthly EMI. You usually pay more total interest over the full tenure, so check both EMI and total cost before you decide.
Use the annual rate quoted by your bank or NBFC, not the monthly figure. If you have a processing fee or insurance bundled in, that is separate from the EMI math shown here.
Yes. Enter any loan amount, rate and tenure and you get monthly EMI, total interest and total repayment. The formula works the same for home, personal, vehicle and other term loans.
No. This shows the schedule if you pay only the regular EMI. If you plan part prepayment or foreclosure, your actual interest will be lower than what you see here.
No. This is an estimate for planning only. Your lender may round amounts differently, add fees, or change rates on floating loans. Talk to your bank before you sign the loan agreement.