Weekly EMI Calculator
Calculate weekly loan EMI for microfinance, vehicle finance and NBFC loans. Supports reducing balance and flat-rate interest methods. Shows first 12 weeks repayment schedule.
Loan details
Weekly EMI result
Weekly repayment schedule (first 12 weeks)
| Week | EMI | Interest | Principal | Balance |
|---|---|---|---|---|
| W1 | ₹4,209 | ₹692 | ₹3,517 | ₹1,96,483 |
| W2 | ₹4,209 | ₹680 | ₹3,529 | ₹1,92,954 |
| W3 | ₹4,209 | ₹668 | ₹3,541 | ₹1,89,412 |
| W4 | ₹4,209 | ₹656 | ₹3,554 | ₹1,85,859 |
| W5 | ₹4,209 | ₹643 | ₹3,566 | ₹1,82,293 |
| W6 | ₹4,209 | ₹631 | ₹3,578 | ₹1,78,714 |
| W7 | ₹4,209 | ₹619 | ₹3,591 | ₹1,75,124 |
| W8 | ₹4,209 | ₹606 | ₹3,603 | ₹1,71,521 |
| W9 | ₹4,209 | ₹594 | ₹3,616 | ₹1,67,905 |
| W10 | ₹4,209 | ₹581 | ₹3,628 | ₹1,64,277 |
| W11 | ₹4,209 | ₹569 | ₹3,641 | ₹1,60,636 |
| W12 | ₹4,209 | ₹556 | ₹3,653 | ₹1,56,983 |
Showing first 12 of 52 weeks. Pattern continues until full repayment.
Weekly vs monthly EMI comparison (18% p.a., reducing balance)
Reference table for common loan amounts. Monthly EMI = Weekly EMI × 4.33.
| Loan amount | 26 weeks EMI | 52 weeks EMI | Equiv. monthly |
|---|---|---|---|
| ₹10,000 | ₹434 | ₹231 | ≈ ₹1,000 |
| ₹25,000 | ₹1,085 | ₹577 | ≈ ₹2,498 |
| ₹50,000 | ₹2,169 | ₹1,155 | ≈ ₹4,997 |
| ₹1,00,000 | ₹4,339 | ₹2,309 | ≈ ₹9,994 |
| ₹2,00,000 | ₹8,678 | ₹4,618 | ≈ ₹19,988 |
| ₹5,00,000 | ₹21,695 | ₹11,546 | ≈ ₹49,970 |
Weekly EMI — FAQ
How is weekly EMI calculated?
Weekly EMI (Equated Weekly Instalment) is calculated using the reducing balance formula: Weekly EMI = P × r × (1+r)^n / [(1+r)^n - 1], where P = principal, r = weekly interest rate (annual rate ÷ 52), and n = total number of weeks. For flat-rate loans (common in MFI and dealer finance), weekly EMI = (Principal + Total Flat Interest) ÷ Number of Weeks.
What is the difference between weekly EMI and monthly EMI?
Weekly EMI divides the loan repayment into weekly instalments instead of monthly ones. A weekly EMI is roughly 1/4.33 of the equivalent monthly EMI (since a month has 4.33 weeks on average). Weekly repayment reduces the loan principal faster, so total interest paid is slightly lower than monthly EMI for the same loan amount and rate. It is common in microfinance (MFI/JLG loans), dealer finance and some NBFC products.
Is weekly EMI used in microfinance loans?
Yes. Microfinance institutions (MFIs) and group-lending organisations (JLG/SHG) almost universally use weekly EMI. Borrowers repay during weekly centre meetings. The weekly collection model improves recovery rates because it keeps instalments small (matching daily cash flows of borrowers) and creates a regular payment habit.
How do I convert weekly EMI to monthly EMI?
To convert weekly EMI to monthly EMI: Monthly EMI ≈ Weekly EMI × 4.33 (the average number of weeks per month). Conversely, Monthly EMI ÷ 4.33 = approximate Weekly EMI. The exact monthly equivalent depends on the number of weeks in each calendar month, but 4.33 is the standard conversion factor used by lenders.
What is flat rate vs reducing balance in weekly EMI?
Flat rate: interest is calculated on the full original principal for the entire tenure. Total interest = P × Annual Rate × Tenure(years). This overstates the effective cost. Reducing balance: interest is calculated only on the outstanding principal each week. Total interest is lower because it decreases as you repay. Reducing balance is more transparent; flat rate is simpler to explain to borrowers.
What weekly EMI is used for vehicle finance or dealer EMI?
Vehicle dealers and two-wheeler finance companies sometimes offer weekly or bi-weekly collection, particularly for commercial vehicles and tractors in rural areas where weekly cash flows align with agricultural cycles. NBFC vehicle loans for commercial vehicles may also offer weekly collections.
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