EMI Calculator

Calculate your monthly loan EMI, total interest and total repayment instantly — for home, personal and car loans.

Loan details

Results update instantly as you change any value.

₹5,00,000
₹1,000₹1 Crore
8.5%
0%25%
1 year30 years

Your EMI results

Monthly EMI

₹10,258

60 monthly instalments at 8.5% per year

  • ₹5,00,000

    Total principal

    The amount you borrowed

  • ₹1,15,496

    Total interest

    Cost of borrowing

  • ₹6,15,496

    Total payment

    Principal + interest

  • 18.8%

    Interest share

    Of your total payment

Repayment breakup

Principal
₹5,00,000
Interest
₹1,15,496
Total payment
₹6,15,496

Amortization schedule

Year-by-year repayment. Expand a year to see every monthly instalment.

Year-wise loan repayment schedule with principal, interest and balance
YearOpening balancePrincipal paidInterest paidTotal paymentClosing balance
₹5,00,000₹83,815₹39,285₹1,23,099₹4,16,185
₹4,16,185₹91,223₹31,876₹1,23,099₹3,24,962
₹3,24,962₹99,286₹23,813₹1,23,099₹2,25,676
₹2,25,676₹1,08,062₹15,037₹1,23,099₹1,17,614
₹1,17,614₹1,17,614₹5,485₹1,23,099₹0

How is EMI calculated?

Every EMI is worked out with the reducing-balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). Here P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. In plain language: the bank spreads your loan plus interest into equal monthly payments, and interest is charged only on the balance still outstanding — so the interest portion shrinks every month while the principal portion grows.

The same method applies to every kind of loan in India, so you can use this loan EMI calculator for a home loan, a car or two-wheeler loan, or a personal loan. Enter the amount you plan to borrow, the annual rate your bank quotes and the tenure — the monthly EMI, total interest and the full repayment schedule update instantly, with all amounts shown in Indian rupee formatting.

What is EMI?

An Equated Monthly Instalment is the fixed amount you repay each month. It stays the same through the tenure (for a fixed rate) and covers both interest and principal.

What is principal?

The principal is the actual money you borrowed. Over the tenure, the sum of the principal portions of all EMIs adds back up to this amount.

What is interest?

Interest is the lender's charge for giving you the money, calculated on the outstanding balance each month at the monthly rate.

How does tenure affect EMI?

A longer tenure splits the loan across more months, so each EMI is smaller — but you pay interest for more months, raising the total interest.

How does the interest rate affect EMI?

A higher rate increases the monthly rate in the formula, pushing up both the EMI and the total repayment. Even 0.5% makes a visible difference on long loans.

Prepayment helps

Paying extra towards the principal reduces the outstanding balance, which cuts future interest and can shorten the tenure considerably.

Frequently asked questions

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