Loan EMI & Repayment Schedule Calculator
Calculate equal monthly loan instalments, interest totals and a full repayment schedule using a transparent reducing-balance model.
Estimate monthly repayments and inspect every month's principal, interest and remaining balance.
How the calculation works
Reducing-balance method: nominal annual rate ÷ 12, fixed end-of-month instalments, with cents rounded each month. The last payment adjusts to clear the balance. If cent rounding would stall repayment, the regular payment rises by one cent and the actual term can be shorter.
Illustrative estimate only. Excludes bank fees, insurance, taxes, changing rates, early payments and lender-specific rounding. Confirm the actual schedule with your lender.
Common questions
Is this the same as a flat-interest loan?
No. Interest is calculated each month on the outstanding principal, not the original principal.
Why might the last payment differ?
Each month's amounts are rounded to cents. The final payment is adjusted to settle the remaining balance exactly.
Check the stated data sources and assumptions before relying on a result.