Skip to main content
Toollyz

Search tools

Search for a command to run...

EMI Calculator

Calculate your monthly loan EMI from principal, annual interest rate and tenure. See the principal-versus-interest split, a 100% amortisation schedule and download the schedule as CSV. 23 currencies; free and private.

What is the EMI Calculator?

An EMI (Equated Monthly Instalment) calculator works out the fixed monthly payment that pays off a loan in a chosen number of months at a chosen annual interest rate. Toollyz EMI Calculator implements the standard formula P × r × (1+r)ⁿ / ((1+r)ⁿ − 1) — where P is the principal, r is the monthly interest rate and n is the total number of months — entirely in your browser. The hero surfaces the monthly EMI, total interest, total payable and tenure in months alongside a principal-vs-interest split bar. Inputs include sliders + numeric inputs for principal, annual interest rate (0–20%) and tenure (1–30 years), plus a 23-currency selector that drives `Intl.NumberFormat`. The amortisation panel shows opening balance, EMI, principal portion, interest portion and closing balance for every month — by default the first 12 rows; expand to see all. Download the full schedule as CSV with one click. Toollyz has no backend; your draft saves to localStorage.

How to use it

  1. Pick your principal, annual interest rate and tenure with the sliders or numeric inputs.
  2. Watch the EMI, total interest and total payable update live in the hero.
  3. Expand the amortisation panel to see every month's breakdown.
  4. Click Export amortisation (CSV) for a spreadsheet-ready download.

Benefits

  • Standard EMI formula: P × r × (1+r)ⁿ / ((1+r)ⁿ − 1).
  • Live principal-vs-interest split bar with percentage labels.
  • Full amortisation schedule with month, opening balance, EMI, principal, interest and closing balance.
  • CSV export so you can analyse the schedule in any spreadsheet.
  • 23 currencies (USD, EUR, GBP, INR, JPY, CNY, AUD, CAD, CHF, SGD, HKD, NZD, KRW, MXN, BRL, ZAR, AED, SAR, TRY, SEK, NOK, DKK, PLN) via `Intl.NumberFormat`.
  • Combined slider + numeric input so you can dial in big values quickly or pick exact amounts.
  • Copy a one-line summary for sharing in chats or email.
  • 100% private — Toollyz has no backend, inputs save to localStorage.

Frequently asked questions

What is EMI?

EMI stands for Equated Monthly Instalment — the fixed amount you pay each month to repay a loan. Each instalment consists of two parts: an interest charge (proportional to the remaining balance) and a principal repayment. The interest portion shrinks over time as the balance drops; the principal portion grows.

What's the EMI formula?

EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal (loan amount), r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the total number of monthly instalments. This is the standard formula every bank uses for amortising loans.

Does it work for floating-rate loans?

It computes the EMI as if the rate is fixed for the full tenure. Real floating-rate loans have an EMI that changes when the reference rate (repo / SOFR / SONIA) moves — you can recompute after each reset using the new outstanding principal and remaining tenure.

What about processing fees, GST and insurance?

Toollyz EMI Calculator only models the principal-and-interest cost. Banks usually add a one-time processing fee (~1–2%), GST on the interest portion (jurisdiction-dependent) and optional credit life insurance — none of those are included. Add them separately for the true total cost of borrowing.

What's the maximum tenure?

The slider goes up to 30 years; the numeric input allows up to 40. Most home loans cap out at 30 years; education and personal loans are usually shorter.

Can I see the amortisation schedule?

Yes — the panel below the inputs shows opening balance, EMI, principal, interest and closing balance for every month. By default it shows the first 12 months; click Show all to expand, or Export amortisation (CSV) for a spreadsheet-ready file.

Why does the principal portion grow over time?

Each EMI is a fixed total, but the interest part is proportional to the remaining balance. As the balance falls (you've paid off some principal), the interest charge falls too — leaving more of each subsequent EMI to pay down principal. The pattern is the heart of amortisation.

How accurate are the rounded values?

Calculations run in IEEE 754 double precision — accurate to ~15 significant digits, which is well beyond what any bank rounds to. Each cell is displayed to two decimal places (or zero for zero-decimal currencies like JPY); the underlying numbers are unrounded.

Are my numbers saved across devices?

No — they're saved in localStorage on this device only. Toollyz has no backend; nothing is uploaded.

Is this EMI Calculator free?

Completely free with no signup and no limits. Compute as many EMIs as you like — privately in your browser.

Related tools

See all calculators tools