Calculate the approximate monthly EMI, total interest and total repayment for a loan based on the loan amount, interest rate and repayment period.
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Year-wise Repayment Schedule
The repayment schedule is grouped by calendar year. The first and last calendar years may therefore be part years. This schedule assumes regular EMI repayment begins in the current calendar month and that no moratorium, deferred-repayment or pre-EMI period applies. Where repayment starts later, or interest is serviced or accrued during a moratorium, the actual schedule may differ.
| Calendar Year | EMIs | Opening Balance | Principal Repaid | Interest Paid | Total Paid | Closing Balance |
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How Is EMI Calculated?
EMI stands for Equated Monthly Instalment. In a standard reducing-balance loan, each EMI contains both principal and interest.
During the initial part of the loan, a larger portion of the EMI generally goes towards interest. As the outstanding loan balance reduces, the interest component falls and a larger portion goes towards principal.
Loan amount + Interest rate + Repayment period
What Happens If the Interest Rate Changes?
For a floating-rate loan, the interest rate may change during the loan period. Depending on the lender and loan terms, this may result in a change in the EMI, the remaining tenure, or both.
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