EMI Calculator With Down Payment
When you pay part of the price upfront, only the balance is financed. This calculator works out that financed amount first, then the EMI on it, so you can see how a bigger down payment changes both.
A ₹8,00,000 purchase with ₹2,00,000 down finances ₹6,00,000, which at 10% over 5 years works out to an EMI of ₹12,748.
Paid upfront, so it is not financed.
Monthly EMI
₹12,748
for 5 years
Financed amount
₹6,00,000
Total interest
₹1,64,898
Total payment
₹7,64,898
Principal vs interest
- Principal
- ₹6,00,000 (78.4%)
- Total interest
- ₹1,64,898 (21.6%)
Compare tenures
| Tenure | EMI | Total interest | Total payment |
|---|---|---|---|
| 1 year | ₹52,750 | ₹32,994 | ₹6,32,994 |
| 2 years | ₹27,687 | ₹64,487 | ₹6,64,487 |
| 3 years | ₹19,360 | ₹96,973 | ₹6,96,973 |
| 4 years | ₹15,218 | ₹1,30,438 | ₹7,30,438 |
| 5 years | ₹12,748 | ₹1,64,898 | ₹7,64,898 |
Amortisation schedule
How each instalment splits between interest and principal.
Monthly EMI
₹12,748
5 years
- What it is:
- An EMI calculator for purchases where you pay part of the price upfront.
- What it calculates:
- The financed amount after the down payment, the EMI on it, and the total cost of the purchase.
Assumptions
- Only the balance after the down payment is financed.
- Processing fees are charged separately, not financed.
- The rate is fixed for the tenure.
How it works
Financed amount = price minus down payment. The EMI is calculated on that financed amount only.
A larger down payment reduces both the EMI and the total interest, and often helps you qualify for a better rate.
Formula
Financed amount = price - down payment, then EMI = P x r x (1+r)^n / ((1+r)^n - 1)
- P
- = financed amount after the down payment
- r
- = monthly interest rate
- n
- = tenure in months
Example calculation
An ₹8,00,000 purchase with ₹2,00,000 down at 10% for 5 years
- Price
- ₹8,00,000
- Down payment
- ₹2,00,000
- Financed amount
- ₹6,00,000
- Interest rate
- 10% a year
- Tenure
- 5 years
- Monthly EMI
- ₹12,748
- Total interest
- ₹1,64,898
- Total cost
- ₹9,64,898
Frequently asked questions
How much down payment should I make?
Does the down payment reduce the interest rate?
Is the processing fee part of the down payment?
Related calculators
Further reading
- How a Down Payment Changes Your Phone EMIWhat paying part of a phone's price upfront does to the instalment and the interest, and why trading in your old phone does the same job.
- Phone EMI Without a Credit Card: What Are the Options?Debit card EMI, consumer durable loans and pay-later plans all finance a phone without a credit card. What each actually costs.
- Exchange vs Down Payment: Which Cuts Your EMI More?Trade-in value and cash down payment reduce your EMI identically. What differs is what each one costs you, and one of them is often free money.
- What Is the Best Tenure for a Phone EMI?Longer phone EMIs cost more and often outlive the phone. How to pick a tenure, and why no-cost and financed plans need opposite answers.
Reviewed by Pradipta Ray, Editor · Last updated