Calculate your monthly loan EMI, total interest and total repayment instantly — for home, personal and car loans.
Results update instantly as you change any value.
₹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
Year-by-year repayment. Expand a year to see every monthly instalment.
| Year | Opening balance | Principal paid | Interest paid | Total payment | Closing 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 |
Learn how EMI works, see worked examples, and understand the trade-off between monthly EMI and total interest.
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay your lender every month until the loan is fully repaid. Each monthly EMI has two parts: a principal portion that reduces your loan balance, and an interest portion that is the cost of borrowing. In the early months, the interest share is higher; over time, the principal share grows.
This EMI calculator uses the standard reducing-balance method. Interest is charged only on the outstanding loan balance, so the interest portion of each EMI decreases as you repay. The formula used is:
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.
Example only: ₹5,00,000 at 10% annual interest for 5 years.
Example only: ₹10,00,000 at 9% annual interest for 10 years.
These illustrative examples use the stated annual interest rate and tenure; they are not current lender offers.
| Loan amount | Annual interest | Tenure | Estimated EMI |
|---|---|---|---|
| ₹5 lakh | 10% | 5 years | ₹10,624 |
| ₹10 lakh | 9% | 10 years | ₹12,668 |
| ₹25 lakh | 9% | 20 years | ₹22,493 |
| ₹50 lakh | 9% | 20 years | ₹44,986 |
| ₹1 crore | 9% | 20 years | ₹89,973 |
Actual EMI depends on the loan amount, interest rate and tenure. Use the calculator above for your own figures.
A longer loan tenure reduces your monthly EMI because the same loan is spread across more instalments. However, you pay interest for more months, and interest is charged on the outstanding balance for longer. This usually increases the total interest paid over the life of the loan. Use this loan EMI calculator to compare different tenures side by side and find the balance that fits your budget. You can also try the Loan Calculator for another view of repayment details.
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