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EMI Calculator

EMI Calculator is the first of its kind in the world when released in March 2007, as far as Google Search tells !

LoanEMICalculator is a spreadsheet that can be used to calculate Equated Monthly Installments (EMI) for given Principal, Interest Rate and Period values. It calculates the total amount repayable, the total principal component and the total interest component over the period. It is a Tenure calculator for the loan according to disbursement and pre-payment parameters. You get to see the complete Amortization Table for your loan over the period.

The maximum period supported is 40 years. For every month, throughout the period, you get to see

  • the monthly EMI
  • the monthly principal component of EMI
  • the monthly interest component of EMI
  • the balance principal amount at the end of the month
If any part of principal is prepaid in a month, it is reflected following month onwards. Additionally, for every year, you can see the total payout in that year including the principal and interest parts.

For loans with variable interest rates, if changed rate is specified in a particular month, it is reflected for rest of the period, either till the end of the period, or till the next change is specified.

One can compare loans from different financial institutions to see which works out best. It is hoped that one can do what-if analysis through the entire period.

Click the links below to Download version 2.1 of EMI Calculator as an
Open Office document or an
Microsoft Excel file. Alternatively, Right-click (Windows) or Control-click (Mac OS) the above links. Choose the appropriate save or download option. The options vary depending on your browser: for Internet Explorer it is Save Target As, for Firefox it is Save Link As, for Safari it is Download Linked File.

If you require the older version for any reason, you can click the links below to download version 1.1 of EMI Calculator as an
Open Office document or an
Microsoft Excel file.

EMI Calculator is released under GPL. Your comments, suggestions are welcome. Your contributions will be acknowledged in the next version.

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