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Monthly Loan EMI & Principal–Interest Breakdown

Calculate a fixed monthly loan payment, total interest and total repaid, with a chart separating principal from interest.

  • Formula & worked example
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Calculator inputs

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How to use this calculator

  1. Enter the known values in the units shown. Results update as you type.
  2. Where results are editable, change one to solve backwards. Lock a value to hold it fixed.
  3. Use the worked example to check the method. Reset restores the starting fields.

Use the result with context

Results are estimates for planning and education. Confirm rates, taxes, fees, and legal requirements with the relevant institution or a qualified professional before making a financial decision.

Formula and method

Borrowing $20,100 at a nominal annual rate of 12% for two monthly payments gives a $10,201 payment, $302 total interest and $20,402 total repaid.

EMI = P × i × (1 + i)^n / ((1 + i)^n − 1), where i = annual rate / 12 and n is months

Worked example

Enter these known values and leave the other values blank.

Amount financed
20100 USD
Nominal annual interest rate
12 %
Repayment term
0:2 yrs / mos
Monthly principal-and-interest payment
10201 USD
Principal and interest repaid
20402 USD
Interest over the full term
302 USD

Assumptions and limitations

  • The balance is repaid with equal payments at month end. The annual nominal rate is divided by 12; it is not an effective annual rate or an APR including fees.
  • This captured model accepts rates above 0% and at most 100%, positive principal and a positive term. For a zero-interest loan, divide the principal by the number of payments.
  • Use a whole number of months for an actual monthly payment schedule. Fractional terms are mathematical estimates. This tool does not generate an amortization schedule.
  • The amount financed is the balance after any deposit or trade-in. Include financed fees in that balance if applicable. Taxes, insurance, escrow, unfinanced fees, rate changes and prepayments are not added.
  • Payments are calculated before currency rounding. A lender may adjust the last payment. Currency selectors use fixed captured conversion factors.

Common questions

Can I use this for a motorcycle or a home loan?

Yes, when the financing uses equal monthly payments at a fixed nominal rate. Enter the actual amount financed. It does not add property taxes, insurance, a down payment, trade-in or local lending rules.

Why does total repaid differ from the loan amount?

Total repaid is the monthly payment multiplied by the term in months. The difference from principal is modeled interest, before fees or payment-rounding adjustments.

References

Bookify requires a positive monthly payment and total repayment, and nonnegative total interest, alongside the captured positive-rate and principal constraints.

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