How to use the loan EMI calculator
Enter your loan details. The EMI and full repayment schedule update as you type. Click Export to Excel to download the schedule as an .xlsx file with totals.
The EMI formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
Where P is the principal, r is the monthly interest rate, and n is the number of monthly instalments.
Understanding the schedule columns
- Principal repayment — the portion of each instalment that reduces the loan balance. Total across the schedule always equals the original loan amount.
- Interest payment — the portion of each instalment that goes to interest. This is cash you actually hand over.
- Interest capitalised — only present in a full moratorium. It's interest that accrued during the moratorium and was added to the outstanding balance instead of being paid. It becomes part of what you repay later, but it belongs to the interest side, not the principal side, for accounting purposes.
- Total instalment — cash paid that month. Zero during a full moratorium; the monthly interest during an interest-only moratorium; the EMI during the repayment phase.
- Principal balance — the outstanding loan amount after that month.
How the totals reconcile
Every column's total equals the sum of its rows — nothing is hidden or double-counted.
- Principal repayment total = original loan amount.
- Interest payment total = interest actually paid in cash (during EMI phase, plus any interest paid in an interest-only moratorium).
- Interest capitalised total = interest accrued but rolled into the balance during a full moratorium. This is not paid as cash, but it becomes part of what you repay.
- Total instalment total = cash paid out of pocket across the whole loan. Because capitalised interest was never paid as cash, it does not appear here.
When a full moratorium is used, the principal repayment column will include some months where the amount repaid is higher than a normal EMI — because you are effectively repaying the balance that has grown through capitalised interest. That's why principal repayment totals to the original amount plus capitalised interest is not what you'll see: the principal total alone stays equal to the original loan, and the capitalised interest appears in its own column.
Moratorium: including or excluding the tenure
| Mode | Meaning | Example (Tenure 240, Moratorium 12) |
|---|---|---|
| Exclude | Tenure = EMI months. Moratorium is added on top. | 12 + 240 = 252 months total |
| Include | Tenure = total loan duration. EMI months = tenure − moratorium. | 12 + 228 = 240 months total |
Common questions
Why is interest capitalised shown separately?
Because it's a different kind of interest. It was never paid as cash — it was added to the loan balance. Showing it separately keeps every column honest: the principal column sums to the original principal, the interest column sums to cash interest paid, and the capitalised column sums to interest rolled into the balance.
Does the principal repayment total match my loan amount?
Yes. Across the entire schedule, the principal repayment column always sums to exactly the original principal you entered.
Does the tenure include the moratorium?
Use the toggle to choose. "Exclude" treats tenure as EMI months only; "Include" treats tenure as total loan duration.
Can I export to Excel?
Yes. Click Export to Excel to download an .xlsx file with the full schedule and totals.
Is my data saved?
Your inputs are stored only in your browser's local storage. Nothing is sent to any server.