What is the Phone EMI Calculator?
Buying a phone on instalments looks cheap per month, but the interest adds up. Enter the price, your down payment, the yearly interest rate and the number of months to see the monthly EMI, the total interest and what you really pay in the end, with an optional month-by-month table.
How to use it
- Enter the phone price and your down payment.
- Enter the interest rate a year and the number of monthly instalments.
- Read the monthly instalment, the total interest and the total cost.
- Switch on the month-by-month table to see how much of each payment is interest.
Private by design
This tool runs in your browser. What you paste or type is processed on your own device and is never uploaded, stored or shared, so it is safe to use with real work data.
Frequently asked questions
How is the EMI calculated?
With the reducing-balance formula: EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the amount financed, r the monthly rate and n the number of months.
Why does my shop show a different figure?
Many shops use a flat rate (interest on the full amount for the whole time), add a processing fee or round the instalment. Compare the total you pay, not only the monthly amount.
Is a 0% instalment plan really free?
Often the price is higher than the cash price, or a fee is added. Enter the instalment price here with 0% interest and compare it with the cash price.
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