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EMI Calculator

Calculate the monthly instalment for any loan amount, rate and tenure. Adjust any input below and your results update instantly.

Your details

Adjust the inputs below and your results update instantly.

Loan amount (₹)*

≈ ₹30.00 L

The total amount you're borrowing from the lender, before any processing fees.

₹1L₹2Cr

e.g. ₹30,00,000 for a home loan

Interest rate (% p.a.)*

The annual interest rate charged by your lender, whether it's a fixed rate or the current floating rate.

6%18%

e.g. 8.5% for a home loan

Loan tenure (years)*

How long you'll take to repay the loan in full. A longer tenure lowers your EMI but raises total interest.

130

e.g. 20 years for a home loan

How these compare

vs. typical India long-term ranges

Interest rate: 8.5%

Typical loan rate: 8–12%

Typical

These are example numbers. Edit any input on the left to see your own.

Your monthly EMI is

₹26,035

over 20 years

Loan amount

₹30.00 L

Total interest

₹32.48 L

Outstanding balance vs. interest paid

Outstanding balanceInterest paid so far

Principal vs. interest, by year

PrincipalInterest

How much of that year's EMI payments went toward principal vs interest. Hover a bar for exact figures.

Year-by-year amortization

"% of principal repaid" shows how much of your loan you've paid off by that year.

YearOutstanding balanceInterest paid so farStatus

1₹29.40 L₹2.53 L

2% loan repaid

2% of principal repaid

4₹27.28 L₹9.77 L

9% loan repaid

9% of principal repaid

7₹24.53 L₹16.40 L

18% loan repaid

18% of principal repaid

10₹21.00 L₹22.24 L

30% loan repaid

30% of principal repaid

13₹16.44 L₹27.05 L

45% loan repaid

45% of principal repaid

16₹10.56 L₹30.55 L

65% loan repaid

65% of principal repaid

19₹2.98 L₹32.34 L

90% loan repaid

90% of principal repaid

20₹0₹32.48 L

100% loan repaid

100% of principal repaid

Compare scenarios

See how rate and tenure changes move your EMI.

Your plan

8.5% · 20y

₹26,035

Monthly EMI

Baseline

Rate +1%

9.5% · 20y

₹27,964

Monthly EMI

+₹1,929

Tenure -5y

8.5% · 15y

₹29,542

Monthly EMI

+₹3,507

Worked example, using your numbers

A step-by-step walkthrough of how your loan becomes your EMI.

Step 1 · Monthly rate

Your 8.5% annual rate converts to a monthly rate of

0.708%

Step 2 · EMI formula

Applying the EMI formula across 240 monthly instalments on ₹30.00 L gives you

₹26,035

Step 3 · Total interest

Across the full tenure, total interest comes to

₹32.48 L

✓

Your ₹30.00 L loan needs an EMI of ₹26,035, a total interest cost of ₹32.48 L over 20 years.

Personalised insights

What your numbers reveal, and what changing them would do.

Your ₹30.00 L loan needs an EMI of ₹26,035

Over 20 years at 8.5%, you'll pay ₹32.48 L in interest, for a total repayment of ₹62.48 L.

52% of your total repayment is interest

₹30.00 L borrowed becomes ₹62.48 L repaid: the difference, ₹32.48 L, is the cost of borrowing.

Reducing your tenure by 5 years saves ₹9.31 L

Repaying over 15 years instead of 20 raises your EMI to ₹29,542, but total interest drops from ₹32.48 L to ₹23.18 L.

A 1% higher rate would cost ₹4.63 L more

At 9.5% instead of 8.5%, your EMI would rise to ₹27,964 and total interest would climb to ₹37.11 L.

How this is calculated

Every step of the math behind your result, shown in the open.

Converting to a monthly rate

r = annual interest rate (%), r_m = monthly rate (%)

Your annual rate (r) is divided by 12, since interest is charged and your instalment is due every month, not once a year.

Example: 8.5% ÷ 12 → 0.708% per month

The EMI formula

P = loan amount, r_m = monthly rate, n = number of months

This formula spreads your loan amount (P) into n equal monthly instalments, each covering that month's interest plus a growing share of the principal.

Example: ₹30.00 L over 240 months at 0.708%/month → ₹26,035 EMI

Estimating total interest

EMI = monthly instalment, n = number of months, P = loan amount

Multiplying your EMI by the total number of instalments gives your total repayment; subtracting the original loan amount leaves the total interest cost.

Example: ₹26,035 × 240 − ₹30.00 L → ₹32.48 L interest

Assumptions

The interest rate stays fixed for the entire tenure: floating-rate resets aren't modeled.
No prepayments or missed instalments are made during the tenure.
Figures exclude processing fees, insurance, and other lender charges, and aren't financial advice.

Understanding your EMI

The concept, the motivation, and what to watch out for.

What is an EMI?

An EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until a loan is fully repaid. It covers both a principal component and an interest component.

The split between principal and interest changes every month: early instalments are mostly interest, since interest is charged on the still-large outstanding balance, while later instalments repay mostly principal.

Tenure changes total cost, not just the monthly amount

A longer tenure lowers your EMI, but you pay interest for longer, often making the total interest cost much higher over the life of the loan.

The same math applies to any EMI-based loan

Home loans, personal loans, car loans, and education loans all use the same EMI formula; only the principal, rate, and tenure differ.

A small prepayment early does more than a large one late

Extra payments made in the first few years cut years of interest, since more of each EMI is still going toward interest, not principal. The same extra amount paid in year 8 barely moves the total.

Did you know?

A few facts behind EMIs and loan repayment.

₹

Most of your early EMIs are interest

On a 20-year home loan, it's common for over 90% of your very first EMI to go toward interest rather than principal.

-5y

Shorter tenures save more than they cost

Cutting a few years off your tenure often raises your EMI only modestly, while cutting total interest paid substantially.

A single percentage point matters a lot

On a large, long-tenure loan, even a 1% difference in interest rate can change the total interest paid by lakhs of rupees.

Rule

Prepay early, not late

A prepayment made in year 2 of a 20-year loan saves far more interest than the same prepayment made in year 18, since it removes interest-bearing balance for many more years.

Frequently asked questions

Straight answers to the questions we hear most about EMIs.

What is an EMI?

An EMI (Equated Monthly Instalment) is the fixed monthly payment you make toward a loan, covering both principal and interest, until the loan is fully repaid.

Why do early EMIs mostly go toward interest?

Interest is charged on your outstanding balance, which is highest at the start of the loan, so a larger share of each early EMI covers interest, with the principal share growing over time.

Does a longer tenure always cost more?

A longer tenure lowers your monthly EMI, but you pay interest for more months, so the total interest paid over the life of the loan is usually higher, even at the same rate.

Does this include processing fees or other charges?

No, this calculator estimates only the principal and interest components of your EMI. Processing fees, insurance, and other charges vary by lender and aren't included.

Can prepaying my loan reduce my total interest?

Yes. Any prepayment reduces your outstanding balance immediately, which lowers the interest charged on every future instalment. Prepaying earlier in the tenure saves more than prepaying later.

Is this financial advice?

No. This tool provides indicative estimates based on your assumptions. Consult your lender or a certified financial advisor before making borrowing decisions.