EMI calculator
Enter your loan amount, interest rate and tenure to see your exact monthly EMI, the total interest you’ll pay, and a full year-by-year breakdown of how the balance falls. Works for home, car and personal loans.
Loan details
Tweak the numbers — results update live
₹10L
Principal
amount borrowed
₹11.59L
Total interest
over the tenure
₹21.59L
Total payable
principal + interest
Principal vs interest
What you repay over 20 years
- Principal₹10L
- Interest₹11.59L
Year-by-year schedule
How the balance falls as you repay
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹18,724 | ₹89,240 | ₹9,81,276 |
| 2 | ₹20,480 | ₹87,484 | ₹9,60,796 |
| 3 | ₹22,401 | ₹85,563 | ₹9,38,394 |
| 4 | ₹24,503 | ₹83,461 | ₹9,13,891 |
| 5 | ₹26,801 | ₹81,163 | ₹8,87,090 |
Monthly EMI
₹8,997
Methodology
How your EMI is calculated
An EMI keeps your monthly outgo constant while steadily clearing the loan. It’s built from three inputs — the amount, the rate, and the tenure — through the standard reducing-balance formula.
EMI = P × r × (1+r)n ÷ ((1+r)n − 1)
- 1
Take the principal
P is the loan amount you borrow. The larger it is, the larger the EMI — proportionally.
- 2
Find the monthly rate
r is the annual interest rate divided by 12 and by 100. A 9% loan has a monthly rate of 0.75%.
- 3
Count the instalments
n is the tenure in months — a 20-year loan is 240 EMIs.
- 4
Reducing balance
Interest each month is charged only on the outstanding balance, so as you repay, the interest portion shrinks and principal grows.
EMI per ₹1 lakh borrowed
At 9% p.a. — multiply by your loan amount in lakhs for a quick estimate.
| Tenure | EMI per ₹1 lakh |
|---|---|
| 5 years | ₹2,076 |
| 10 years | ₹1,267 |
| 15 years | ₹1,014 |
| 20 years | ₹900 |
| 25 years | ₹839 |
Questions
Frequently asked
How is EMI calculated?
EMI uses the reducing-balance formula EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments. Each EMI is part interest on the outstanding balance and part principal repayment; early EMIs are interest-heavy and later ones are principal-heavy.
What is the difference between principal and interest in an EMI?
Principal is the amount you actually borrowed; interest is the lender’s charge for lending it. Your EMI stays the same each month, but its split changes — at the start most of it goes to interest, and as the balance falls, more goes to principal. The donut and year-by-year schedule above show this split for your loan.
Does a longer tenure reduce my EMI?
Yes — a longer tenure spreads the principal over more months, so each EMI is smaller. But you pay interest for longer, so the total interest is higher. A shorter tenure means a larger EMI but far less total interest. Use the tenure slider to see the trade-off instantly.
How can I reduce the total interest on my loan?
Choose a shorter tenure if you can afford the higher EMI, negotiate a lower interest rate, make a larger down payment to borrow less, or prepay whenever you have surplus funds. Even small prepayments early in the loan cut total interest sharply — try our loan prepayment calculator to see by how much.
Is the interest rate fixed or floating?
This calculator assumes a fixed rate for the full tenure, which gives a constant EMI. With a floating rate, the rate (and therefore your EMI or tenure) can change when the lender revises rates. For a floating loan, re-run the calculator with the new rate whenever it changes to see the updated EMI.
Does the EMI include processing fees or insurance?
No. The EMI here is purely principal plus interest. Lenders may add one-time charges such as processing fees, documentation, or loan-protection insurance, which are billed separately and are not part of the monthly EMI. Always check the loan’s annual percentage rate (APR) for the all-in cost.