Phone EMI Calculator

Work out the installment on a smartphone sold on EMI, lipa mdogo mdogo, qist or bashi. Enter the price, down payment and charge, then choose daily, weekly or monthly payments. It works in ten currencies, from rupees to naira and shillings, and is free for shops and buyers.

Installment per month

₹1,400

Amount financed: ₹15,000
Total markup: ₹1,800
Down payment: ₹5,000
Total the customer pays: ₹21,800

12 months · ₹1,800 more than the cash price.

Show payment schedule

#	Payment	Markup	Principal	Balance
1	₹1,400	₹150	₹1,250	₹13,750
2	₹1,400	₹150	₹1,250	₹12,500
3	₹1,400	₹150	₹1,250	₹11,250
4	₹1,400	₹150	₹1,250	₹10,000
5	₹1,400	₹150	₹1,250	₹8,750
6	₹1,400	₹150	₹1,250	₹7,500
7	₹1,400	₹150	₹1,250	₹6,250
8	₹1,400	₹150	₹1,250	₹5,000
9	₹1,400	₹150	₹1,250	₹3,750
10	₹1,400	₹150	₹1,250	₹2,500
11	₹1,400	₹150	₹1,250	₹1,250
12	₹1,400	₹150	₹1,250	₹0

Results are estimates for planning. Example prices are typical phone prices, not RecTym prices or financing terms. The actual price, charges and agreement are set by the seller or financing business.

How the phone EMI is calculated

Every plan starts with the amount financed: the phone price minus the down payment. What happens next depends on how the charge is quoted.

Flat markup, common in phone shops: installment = (amount financed + markup) ÷ number of installments. The markup is one percentage of the amount financed for the whole plan.
Annual interest on a reducing balance, used by banks and NBFCs: EMI = P × i ÷ (1 − (1 + i)⁻ⁿ), where P is the amount financed, i is the annual rate divided by the payments per year and n is the number of installments.

Example: a ₹20,000 phone with a ₹5,000 down payment leaves ₹15,000 financed over 12 months. A 12% flat markup adds ₹1,800, so each installment is ₹1,400. At 12% a year on a reducing balance, the EMI is about ₹1,333 and total interest about ₹993.

Flat markup vs annual interest

The same number means very different costs. A flat rate keeps charging on money the customer has already repaid, so over a year it costs nearly twice as much as the same reducing rate.

₹15,000 financed over 12 monthly installments
Charge quoted	Installment	Total charge
12% flat markup	₹1,400	₹1,800
12% a year, reducing balance	≈ ₹1,333	≈ ₹993
21.5% a year, reducing balance	≈ ₹1,400	≈ ₹1,800

When you compare offers, convert them to the same basis. Tell customers the installment, the number of installments and the total they will pay.

Tips for shops setting installment plans

Match the payment frequency to how customers earn: daily or weekly for mobile-money customers, monthly for salaried buyers.
A larger down payment lowers the risk of an early default and the size of every installment.
Write the installment, the number of payments, the total payable and any one-time fee into the customer agreement.
Give each customer an account number to use as the payment reference, so every transfer or mobile-money payment can be matched.
Use EMI lock software to keep the schedule, payments and the financed phone in one record.

Installment guides by country

The calculator supports INR, PKR, BDT, AED, PHP, NGN, GHS, KES, UGX, TZS. For local payment channels and rules, see the country guides.

Add this calculator to your website

Phone shops, distributors, lenders and bloggers can embed the calculator for free. Paste this code where you want it to appear:

<iframe src="https://rectym.com/phone-emi-calculator/embed" title="Phone EMI calculator" width="100%" height="760" style="border:0;max-width:640px" loading="lazy"></iframe>
<p><a href="https://rectym.com/phone-emi-calculator">Phone EMI calculator</a> by RecTym</p>

To start in your currency, add it to the address, for example /phone-emi-calculator/embed?cur=KES.

Common questions

How do I calculate the EMI on a phone?

Subtract the down payment from the phone price to get the amount financed. With a flat markup, add the markup percentage of that amount and divide by the number of installments. With an annual interest rate, use the reducing-balance formula EMI = P × i ÷ (1 − (1 + i)^−n), where i is the rate per payment period. The calculator above does both.

What is the difference between a flat markup and an annual interest rate?

A flat markup charges one percentage on the full amount financed for the whole plan, even as the customer pays it down. An annual interest rate charges each period only on the balance still owed. A 12% flat markup over 12 months costs about the same as a reducing rate of roughly 21.5% a year.

Can I calculate daily or weekly installments?

Yes. Choose daily, weekly or monthly payments. Daily and weekly plans are common for phones sold on mobile money in Kenya, Uganda, Tanzania, Ghana and Nigeria.

Is this a loan offer from RecTym?

No. RecTym does not lend money. The calculator is a free planning tool, and its example prices are not RecTym prices or financing terms. Your shop or financing partner sets the actual price, charges and agreement.

Can I add this calculator to my own website?

Yes. Copy the embed code on this page into your website. It is free to use and includes a link to the full calculator.

Sell phones on installments with confidence

RecTym keeps every installment, payment and financed Android phone in one record, from the first payment to the final release.

Book a Demo See the EMI Lock App