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Free EMI Calculator for Excel and Google Sheets
Download a ready-made spreadsheet: type your loan amount, interest rate and tenure, and it works out your EMI, total interest and a full month-by-month repayment schedule. It also handles extra monthly prepayments. Free, no sign-up.
Download the EMI calculator (.xlsx)
What is inside
- EMI, total interest and total payment, calculated as soon as you type.
- Full amortization schedule for up to 30 years, showing interest, principal and balance for every month.
- Optional extra payment each month, to see how much sooner you finish.
- Works in Microsoft Excel, Google Sheets and LibreOffice.
The EMI formula in Excel
Excel's PMT function gives your EMI. For a ₹50 lakh loan at 8.5% for 20 years:
=PMT(8.5%/12, 20*12, -5000000)That returns about ₹43,391 a month. The rate is divided by 12 because EMIs are monthly, and the loan amount is negative because it is money you receive.
First months of the schedule
| Month | EMI | Interest | Principal | Balance left |
|---|---|---|---|---|
| 1 | ₹43,391 | ₹35,417 | ₹7,974 | ₹49,92,026 |
| 2 | ₹43,391 | ₹35,360 | ₹8,031 | ₹49,83,995 |
| 3 | ₹43,391 | ₹35,303 | ₹8,088 | ₹49,75,907 |
| 4 | ₹43,391 | ₹35,246 | ₹8,145 | ₹49,67,762 |
| 5 | ₹43,391 | ₹35,188 | ₹8,203 | ₹49,59,559 |
| 6 | ₹43,391 | ₹35,130 | ₹8,261 | ₹49,51,298 |
₹50 lakh at 8.5% for 20 years. The download contains all 240 months.
Frequently asked questions
What is the Excel formula for EMI?
Use =PMT(rate/12, years*12, -loan). For ₹50 lakh at 8.5% for 20 years that is =PMT(8.5%/12, 240, -5000000), which gives about ₹43,391.
Does the sheet work in Google Sheets?
Yes. In Google Sheets choose File, then Import, then Upload, and select the downloaded file. All formulas keep working.
Is the download free?
Yes. No sign-up and no email needed. You can share it and use it for your own planning.
Prefer not to download? Use the online EMI calculator, or add our calculator to your website.