All Digi HubLoan EMI calculator with yearly schedule
Work out the monthly EMI on a home, car, business or personal loan, the total interest you will pay and a year-by-year repayment schedule. Add an extra monthly payment to see how much prepaying saves. The calculator is free, needs no sign-up, and your numbers stay on your device unless you choose to send them.
How it works
The EMI uses the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the yearly rate ÷ 12 ÷ 100 and n is the number of months. Total interest = EMI × n − P. If the rate is zero, the EMI is simply P ÷ n.
The schedule is built month by month. Each month, interest = balance × r, and the rest of the EMI reduces the balance. When you add an extra payment, it goes straight to the principal, so the loan ends sooner and less interest is charged. The tool also shows what one extra EMI a year (EMI ÷ 12 added monthly) would save, and how much a rate 0.5% lower would save.
How to use it
- Enter the loan amount and the yearly interest rate.
- Enter the loan period in years (up to 40).
- Optionally add an extra monthly payment to see prepayment savings.
Questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r is the monthly rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. The calculator applies this and shows the interest and principal paid each year.
Does prepaying a loan really save money?
Usually yes, because extra payments cut the principal and future interest is charged on a smaller balance. Enter an extra monthly amount to see months saved and interest saved. Check with your lender whether prepayment charges apply to your loan.
How much EMI can I afford?
Many people try to keep total EMIs under about 40% of take-home income so savings and emergencies stay covered. It is a rule of thumb, not a limit. The home affordability calculator works backwards from your income to a loan amount.
Is this EMI calculator free and private?
Yes. It is free with no sign-up, and the maths runs in your browser. Your numbers stay on your device unless you choose to copy the result, share it on WhatsApp, save a PDF or send it to us.
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