EMI Calculator
Calculate your loan EMI, total interest and year-by-year repayment schedule for home, car or personal loans. Free, instant and private.
Your loan details never leave your device
Monthly EMI
₹8,678
Total interest
₹10,82,776
Total payment
₹20,82,776
Principal 48% · Interest 52%
Yearly repayment schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 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 |
Results are estimates for information only and are not financial advice. Your actual EMI depends on your lender’s rate, fees, rounding and repayment dates.
About the EMI Calculator
An EMI (equated monthly instalment) is the fixed amount you pay your lender every month until a loan is repaid. Each payment covers that month’s interest plus a slice of the principal. Enter the loan amount, interest rate and tenure below to see your EMI, the total interest you will pay, and how the outstanding balance falls year by year.
The calculator uses the standard reducing-balance formula that banks and housing-finance companies use for home, car, personal and education loans: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments. It works the same way for a mortgage or auto loan in any currency.
How to use the EMI Calculator
- Enter the loan amount you plan to borrow.
- Enter the annual interest rate quoted by your lender.
- Enter the tenure and choose whether it is in years or months.
- Read your monthly EMI, total interest and total payment. Open the yearly schedule to see how much principal and interest you pay each year.
Features
- Instant results as you type, with no sign-up and no limits.
- Year-by-year amortization schedule showing principal, interest and remaining balance.
- Principal-versus-interest split, so you can see the true cost of the loan.
- Supports rupees, dollars, euros and pounds with local number formatting.
- Runs entirely in your browser, so your loan details are never sent anywhere.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r is the monthly rate (the annual rate divided by 12 and by 100) and n is the tenure in months. For example, a loan of ₹10,00,000 at 8.5% for 20 years has an EMI of about ₹8,678 a month.
Why does most of my early EMI go toward interest?
Interest is charged on the outstanding balance. At the start the balance is at its highest, so the interest portion is largest and only a small part of the EMI reduces the principal. As the balance falls, the interest portion shrinks and more of each payment goes to principal.
Does a longer tenure reduce my total cost?
No. A longer tenure lowers the monthly EMI but increases the total interest, because you keep the money for longer. Compare two tenures on the same loan, such as 15 and 20 years, to see the difference.
Is this the same as a flat-rate loan?
No. This calculator uses the reducing-balance method, where interest is charged only on what you still owe. Some lenders quote a flat rate, which charges interest on the original amount for the whole tenure. A flat rate looks lower on paper but usually costs more than the same reducing-balance rate.
What does the EMI not include?
Processing fees, insurance premiums, taxes on fees and prepayment charges are not included. Floating-rate loans can also change over time, which changes your EMI or tenure. Check your lender’s sanction letter for the exact figures.
Can I use this for a mortgage or car loan outside India?
Yes. Any loan repaid in equal monthly payments uses the same formula, so the result matches a standard mortgage or auto-loan payment. Choose your currency from the list to format the amounts.