Loan instalments

EMI, and loans with a moratorium, scheduled to the paisa

The EMI on a loan, and apart from it a business or project loan with a moratorium, repaid by EMI or equal principal, monthly or quarterly. Scheduled by calendar or financial year, every total the sum of its rows.

Your figures

Kind of loan

Each keeps its own figures. Switching shows the other set as you left it; nothing is carried from one to the other.

Standard loan, its own figures

Example to start fromexample figures
About this

Choosing one puts in an example amount, rate and tenure and sets the slider ranges. It changes nothing in the arithmetic, and the examples are not a statement of what any lender charges. Any figure can be typed, inside or outside the slider range.

12 lakh, 1.2cr

fixed for the term
About this

Blank is not read as nil. Enter 0 for a loan that really carries no interest.

Tenure in
240 months

EMI paid
About this

In arrears, the first EMI falls a month after disbursement. In advance, the first is paid at disbursement and carries no interest, which some vehicle loans use. Check the sanction letter for which applies.

Month of disbursement

The schedule starts from it. First EMI: May 2026.

Result, standard loan

Monthly EMI

₹ 44,986

240 monthly instalments, the first in May 2026 and the last in Apr 2046.

To the paisa, as the schedule pays it₹ 44,986.30
Instalments in the schedule₹ 44,986.29 to ₹ 44,986.31
EMI by the formula, before rounding₹ 44,986.2978
Principal repaid₹ 50,00,000.00
Total interest₹ 57,96,711.42
Total payment₹ 1,07,96,711.42
How the total is made up

Total payment is the sum of the schedule's 240 instalments. 168 of them pay the EMI to the paisa, ₹ 44,986.30; the instalments run from ₹ 44,986.29 to ₹ 44,986.31, none more than ₹ 0.01 from it, because each row's interest and closing balance are struck to the paisa and no rounding is carried forward. So total payment, ₹ 1,07,96,711.42, is not exactly 240 times ₹ 44,986.30. The EMI quoted as ₹ 44,986 is the formula figure to the nearest rupee.

Break up of total payment
  • Principal 46.3%
  • Interest 53.7%
Computed in this browser tab. Your client's figures are not sent anywhere, and there is nothing to sign up for.

Download this working

The file holds the figures entered, the EMI and the totals, every month of the schedule, the financial year and calendar year tables, and the basis. It is made in this browser from the figures showing; nothing is uploaded.

01 / Year by year

The schedule, and every total from it

How to read the schedule

Principal and interest for each year. Interest is shown on two bases, named in the columns: paid, in the year the instalment carrying it falls due, and accrued, for the months of the year it ran over. Open a year for its instalments. Every paid total is the sum of the rows under it.

Group the schedule byJanuary to December

Principal and interest paid, by year

  • Principal
  • Interest

Use the left and right arrow keys to read each year. The same figures are in the table below the chart.

Balance outstanding at each year end

Calendar years run January to December. Interest paid is the interest in the instalments falling due in the year. Interest accrued is the interest for the months of the year, whenever it falls due. Principal is taken in the year its instalment falls due. The balance at the end of a year excludes interest accrued by then that falls due after it; each such year says how much, under its months. Every figure is to the paisa.

Loan schedule by calendar year: principal falling due, interest paid, interest accrued, total payment and the balance at the end of each year. Each year opens to its months.
YearPrincipal falling dueInterest paidInterest accruedTotal paymentBalance at the end
₹ 61,486.31₹ 2,98,404.06₹ 3,35,442.91₹ 3,59,890.37₹ 49,38,513.69
₹ 99,403.36₹ 4,40,432.21₹ 4,39,686.69₹ 5,39,835.57₹ 48,39,110.33
₹ 1,08,728.07₹ 4,31,107.50₹ 4,30,292.04₹ 5,39,835.57₹ 47,30,382.26
₹ 1,18,927.52₹ 4,20,908.05₹ 4,20,016.09₹ 5,39,835.57₹ 46,11,454.74
₹ 1,30,083.74₹ 4,09,751.83₹ 4,08,776.20₹ 5,39,835.57₹ 44,81,371.00
₹ 1,42,286.50₹ 3,97,549.06₹ 3,96,481.91₹ 5,39,835.56₹ 43,39,084.50
₹ 1,55,633.95₹ 3,84,201.63₹ 3,83,034.38₹ 5,39,835.58₹ 41,83,450.55
₹ 1,70,233.48₹ 3,69,602.08₹ 3,68,325.33₹ 5,39,835.56₹ 40,13,217.07
₹ 1,86,202.56₹ 3,53,633.00₹ 3,52,236.48₹ 5,39,835.56₹ 38,27,014.51
₹ 2,03,669.65₹ 3,36,165.93₹ 3,34,638.41₹ 5,39,835.58₹ 36,23,344.86
₹ 2,22,775.26₹ 3,17,060.31₹ 3,15,389.49₹ 5,39,835.57₹ 34,00,569.60
₹ 2,43,673.12₹ 2,96,162.46₹ 2,94,334.91₹ 5,39,835.58₹ 31,56,896.48
₹ 2,66,531.34₹ 2,73,304.22₹ 2,71,305.24₹ 5,39,835.56₹ 28,90,365.14
₹ 2,91,533.82₹ 2,48,301.76₹ 2,46,115.25₹ 5,39,835.58₹ 25,98,831.32
₹ 3,18,881.70₹ 2,20,953.87₹ 2,18,562.26₹ 5,39,835.57₹ 22,79,949.62
₹ 3,48,795.01₹ 1,91,040.57₹ 1,88,424.61₹ 5,39,835.58₹ 19,31,154.61
₹ 3,81,514.38₹ 1,58,321.19₹ 1,55,459.83₹ 5,39,835.57₹ 15,49,640.23
₹ 4,17,303.06₹ 1,22,532.51₹ 1,19,402.74₹ 5,39,835.57₹ 11,32,337.17
₹ 4,56,448.97₹ 83,386.61₹ 79,963.24₹ 5,39,835.58₹ 6,75,888.20
₹ 4,99,267.03₹ 40,568.54₹ 36,824.04₹ 5,39,835.57₹ 1,76,621.17
₹ 1,76,621.17₹ 3,324.03₹ 1,999.37₹ 1,79,945.20₹ 0.00
Total, every year₹ 50,00,000.00₹ 57,96,711.42₹ 57,96,711.42₹ 1,07,96,711.42₹ 0.00

02 / How the figure is worked

The formula, with your figures in it

The formula and the rounding, worked on your figures

Reducing balance arithmetic: interest each period on the balance then outstanding, and each repayment of principal reduces that balance. The conventions it rests on are listed under the basis at the foot of the page.

EMI, in arrears

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n - 1)

  • P, the loan: ₹ 50,00,000.00
  • r, the monthly rate: 9% ÷ 12 = 0.75%
  • n, the instalments: 240
  • EMI by the formula: ₹ 44,986.2978; to the paisa, ₹ 44,986.30; quoted to the rupee as ₹ 44,986

Each period's interest is the rate on the opening balance, struck to the paisa, and each closing balance is the formula's own balance struck to the paisa, so no rounding is carried into a later period or charged interest. For this loan no instalment departs from the EMI to the paisa, ₹ 44,986.30, by more than ₹ 0.01. Every total here is the sum of the schedule rows, which is why it can differ from a figure struck by multiplying an instalment by the number of instalments.

03 / From the books instead

One loan is the easy part

OptiReports builds the CMA data a bank asks for from the client's Tally ledgers, an ITR or figures you enter.

See OptiReports

Nothing leaves this page

Every figure above is computed in your own browser as you type. Nothing is sent, stored or logged, and there is no account. The example figures are not any lender's rates or terms.

Assumptions and basis

What this calculator applied

Method applied
Reducing balance amortisation, by equated monthly instalments
Basis checked
Checked on 25 September 2026
8 notes on what the method assumes
  • The monthly rate is the annual rate divided by 12. That is a convention of this page. A lender may compute interest on a daily balance or on another day count, and its figures will then differ.
  • Each month's interest runs over that month and falls due in the month after it, the month the schedule dates the instalment, so the first instalment falls due in the month after the month of disbursement. Where EMI in advance is chosen, the first instalment is paid in the month of disbursement and carries no interest, and each later one carries the interest for the month before it.
  • No broken period interest is included for the days between disbursement and the start of the first period. Where a lender charges it, it is payable in addition to the schedule shown, whether the lender collects it separately, deducts it from the amount disbursed or adds it to the first payment.
  • The rate is fixed for the whole term. A floating rate resets the EMI or the tenure when it moves, and this page does not model that.
  • No processing fee, insurance, prepayment or penalty is included.
  • Every figure in the schedule is struck to the paisa, an exact half paisa upward, and worked exactly on the rate as entered rather than in floating point. Each closing balance is the formula's balance struck to the paisa and each month's interest is the rate on the opening balance struck to the paisa, so no rounding is carried into a later month or charged interest. Because the formula EMI is seldom a whole number of paise, a row can pay slightly more or less than the EMI struck to the paisa; the result gives the largest such difference for the loan entered. Every total is the sum of the schedule rows it summarises.
  • By year, principal is taken in the year its instalment falls due. Interest is given two ways: as paid, in the year the instalment carrying it falls due, and as accrued, for the month it ran over. The two differ where interest runs in one year and falls due in the next: the interest for a year's last month falls due in the month after, so at the year end it is accrued and not yet due, and the balance at the year end excludes it. The result gives that amount for each year. Interest accrued is the accrual basis; whether a year's interest is charged to profit and loss or added to the cost of an asset is outside this page.
  • The figures entered are examples, not statements about any lender's rates or terms. This is a working to check against a sanction letter or a lender's own schedule, not a quotation, a sanction or advice.

This is a working estimate, not advice, and it will not cover every case. Check the figure against the sanction letter and the lender's own repayment schedule before you rely on it or sign anything. All calculators