Working now
EMI Calculator
Calculate your monthly EMI and get a full month-by-month amortisation schedule showing principal vs interest breakdown.
How CAs use this
- Client takes a home loan — CA needs the amortisation table to calculate annual interest for 24(b) deduction.
- Each year's interest payment is tax deductible up to ₹2 lakh for self-occupied property.
- The schedule shows exactly how much goes to interest each year, ready to use in ITR filing.
- Download the CSV and paste it into the client's tax workings.
Questions
What is the EMI formula?
EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P is principal, r is monthly rate (annual rate ÷ 12 ÷ 100) and n is total months.
Why does most of the early EMI go to interest?
Interest is calculated on the outstanding balance. Early on the balance is high, so more of each EMI pays interest. As the principal reduces, the interest portion shrinks and the principal portion grows.
Can I account for prepayment?
Not yet — the schedule assumes a fixed EMI throughout. Prepayment calculators are a planned addition.