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EMI Calculator

Calculate monthly loan EMI, interest and total payment.

₹10 Lakh
₹
%
years
Monthly EMI
₹8,678
Total interest
₹10,82,776
₹10.83 Lakh
Total payment
₹20,82,776
₹20.83 Lakh
Principal₹10,00,000 (48%)
Interest₹10,82,776 (52%)
Year-by-year repayment schedule
YearPrincipal paidInterest paidLoan left
1₹19,902₹84,236₹9,80,098
2₹21,661₹82,477₹9,58,436
3₹23,576₹80,563₹9,34,860
4₹25,660₹78,479₹9,09,200
5₹27,928₹76,211₹8,81,272
6₹30,397₹73,742₹8,50,875
7₹33,084₹71,055₹8,17,791
8₹36,008₹68,131₹7,81,784
9₹39,191₹64,948₹7,42,593
10₹42,655₹61,484₹6,99,938
11₹46,425₹57,714₹6,53,513
12₹50,529₹53,610₹6,02,985
13₹54,995₹49,144₹5,47,990
14₹59,856₹44,283₹4,88,134
15₹65,147₹38,992₹4,22,987
16₹70,905₹33,234₹3,52,082
17₹77,172₹26,966₹2,74,910
18₹83,994₹20,145₹1,90,916
19₹91,418₹12,721₹99,498
20₹99,498₹4,640₹0

How to use

  1. 1Enter the loan amount you want to borrow.
  2. 2Enter the yearly interest rate offered by your bank.
  3. 3Set the loan tenure in years or months.
  4. 4See your monthly EMI, total interest and the year-by-year repayment schedule instantly.

Frequently asked questions

How is EMI calculated?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI, but you pay much more interest in total. Compare the total interest shown here before choosing.

Is the result the same as my bank's EMI?

It uses the standard reducing-balance method banks use, so it should match closely. Processing fees, insurance and rate changes on floating-rate loans are not included.

What is the year-by-year schedule?

It shows how much principal and interest you pay each year and how much loan is left. In early years, most of each EMI goes towards interest.

Can I use it for home, car and personal loans?

Yes. EMI works the same way for all fixed-rate loans with monthly instalments. Just enter the amount, rate and tenure.

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