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
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.
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.
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.
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.
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.
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.