EMI Calculator

Formatting only. This does not change the calculation.
The nominal annual rate (APR before fees), not the monthly rate.
Added to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.
Additional principal paid on top of the scheduled payment.
Payment
8,997.26
Loan Payment Calculator
Total interest
1,159,342.12
Total of payments
2,159,342.12
Number of payments
240
Payoff time
20 years
Rate per period
0.75 %
Interest per unit borrowed
1.1593
Interest saved by extra payments
0
Payments saved
0
Loan amount
1,000,000.00
Annual interest rate
9 %
Months to repay
240
Fees deducted at closing
0.00
Net amount advanced
1,000,000.00
APR
9 %
Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.

How this is worked out

3 steps
  1. Rate per period = 9% / 12 = 0.75%
  2. Payment = P i / (1 - (1+i)^-n) = 8997.26
  3. Over 240 payments the total paid is 2159342.12, of which 1159342.12 is interest.
Amortisation scheduletable
periodpaymentinterestprincipalbalance
18,997.267,5001,497.26998,502.74
28,997.267,488.771,508.49996,994.25
38,997.267,477.461,519.8995,474.45
48,997.267,466.061,531.2993,943.25
58,997.267,454.571,542.69992,400.56
68,997.267,4431,554.26990,846.3
78,997.267,431.351,565.91989,280.39
88,997.267,419.61,577.66987,702.73
98,997.267,407.771,589.49986,113.24
108,997.267,395.851,601.41984,511.83
118,997.267,383.841,613.42982,898.41
128,997.267,371.741,625.52981,272.89
138,997.267,359.551,637.71979,635.18
148,997.267,347.261,650977,985.18
158,997.267,334.891,662.37976,322.81
168,997.267,322.421,674.84974,647.97
178,997.267,309.861,687.4972,960.57
188,997.267,297.21,700.06971,260.51
198,997.267,284.451,712.81969,547.7
208,997.267,271.611,725.65967,822.05
218,997.267,258.671,738.59966,083.46
228,997.267,245.631,751.63964,331.83
238,997.267,232.491,764.77962,567.06
248,997.267,219.251,778.01960,789.05
258,997.267,205.921,791.34958,997.71
268,997.267,192.481,804.78957,192.93
278,997.267,178.951,818.31955,374.62
288,997.267,165.311,831.95953,542.67
298,997.267,151.571,845.69951,696.98
308,997.267,137.731,859.53949,837.45
318,997.267,123.781,873.48947,963.97
328,997.267,109.731,887.53946,076.44
338,997.267,095.571,901.69944,174.75
348,997.267,081.311,915.95942,258.8
358,997.267,066.941,930.32940,328.48
368,997.267,052.461,944.8938,383.68
378,997.267,037.881,959.38936,424.3
388,997.267,023.181,974.08934,450.22
398,997.267,008.381,988.88932,461.34
408,997.266,993.462,003.8930,457.54
418,997.266,978.432,018.83928,438.71
428,997.266,963.292,033.97926,404.74
438,997.266,948.042,049.22924,355.52
448,997.266,932.672,064.59922,290.93
458,997.266,917.182,080.08920,210.85
468,997.266,901.582,095.68918,115.17
478,997.266,885.862,111.4916,003.77
488,997.266,870.032,127.23913,876.54
498,997.266,854.072,143.19911,733.35
508,997.266,8382,159.26909,574.09
518,997.266,821.812,175.45907,398.64
528,997.266,805.492,191.77905,206.87
538,997.266,789.052,208.21902,998.66
548,997.266,772.492,224.77900,773.89
558,997.266,755.82,241.46898,532.43
568,997.266,738.992,258.27896,274.16
578,997.266,722.062,275.2893,998.96
588,997.266,704.992,292.27891,706.69
598,997.266,687.82,309.46889,397.23
608,997.266,670.482,326.78887,070.45
618,997.266,653.032,344.23884,726.22
628,997.266,635.452,361.81882,364.41
638,997.266,617.732,379.53879,984.88
648,997.266,599.892,397.37877,587.51
658,997.266,581.912,415.35875,172.16
668,997.266,563.792,433.47872,738.69
678,997.266,545.542,451.72870,286.97
688,997.266,527.152,470.11867,816.86
698,997.266,508.632,488.63865,328.23
708,997.266,489.962,507.3862,820.93
718,997.266,471.162,526.1860,294.83
728,997.266,452.212,545.05857,749.78
738,997.266,433.122,564.14855,185.64
748,997.266,413.892,583.37852,602.27
758,997.266,394.522,602.74849,999.53
768,997.266,3752,622.26847,377.27
778,997.266,355.332,641.93844,735.34
788,997.266,335.522,661.74842,073.6
798,997.266,315.552,681.71839,391.89
808,997.266,295.442,701.82836,690.07
818,997.266,275.182,722.08833,967.99
828,997.266,254.762,742.5831,225.49
838,997.266,234.192,763.07828,462.42
848,997.266,213.472,783.79825,678.63
858,997.266,192.592,804.67822,873.96
868,997.266,171.552,825.71820,048.25
878,997.266,150.362,846.9817,201.35
888,997.266,129.012,868.25814,333.1
898,997.266,107.52,889.76811,443.34
908,997.266,085.832,911.43808,531.91
918,997.266,063.992,933.27805,598.64
928,997.266,041.992,955.27802,643.37
938,997.266,019.832,977.43799,665.94
948,997.265,997.492,999.77796,666.17
958,997.265,9753,022.26793,643.91
968,997.265,952.333,044.93790,598.98
978,997.265,929.493,067.77787,531.21
988,997.265,906.483,090.78784,440.43
998,997.265,883.33,113.96781,326.47
1008,997.265,859.953,137.31778,189.16
1018,997.265,836.423,160.84775,028.32
1028,997.265,812.713,184.55771,843.77
1038,997.265,788.833,208.43768,635.34
1048,997.265,764.773,232.49765,402.85
1058,997.265,740.523,256.74762,146.11
1068,997.265,716.13,281.16758,864.95
1078,997.265,691.493,305.77755,559.18
1088,997.265,666.693,330.57752,228.61
1098,997.265,641.713,355.55748,873.06
1108,997.265,616.553,380.71745,492.35
1118,997.265,591.193,406.07742,086.28
1128,997.265,565.653,431.61738,654.67
1138,997.265,539.913,457.35735,197.32
1148,997.265,513.983,483.28731,714.04
1158,997.265,487.863,509.4728,204.64
1168,997.265,461.533,535.73724,668.91
1178,997.265,435.023,562.24721,106.67
1188,997.265,408.33,588.96717,517.71
1198,997.265,381.383,615.88713,901.83
1208,997.265,354.263,643710,258.83

First 120 of 240 rows.

Yearly summarytable
yearinterestprincipalendingBalance
189,240.0118,727.11981,272.89
287,483.2820,483.84960,789.05
385,561.7522,405.37938,383.68
483,459.9824,507.14913,876.54
581,161.0326,806.09887,070.45
678,646.4529,320.67857,749.78
775,895.9732,071.15825,678.63
872,887.4735,079.65790,598.98
969,596.7538,370.37752,228.61
1065,997.3441,969.78710,258.83
1162,060.2945,906.83664,352
1257,753.9150,213.21614,138.79
1353,043.5754,923.55559,215.24
1447,891.3560,075.77499,139.47
1542,255.8265,711.3433,428.17
1636,091.6771,875.45361,552.72
1729,349.2678,617.86282,934.86
1821,974.3685,992.76196,942.1
1913,907.6494,059.48102,882.62
205,084.22102,882.620

Results are general information, not financial, tax, legal, medical or engineering advice.