EMI Calculator

EMI Calculator

Work out your monthly loan installment, the total interest you will pay, and how your balance falls over time.

Loan details

Changes how numbers are grouped, for example 1,00,000 or 100,000.

%
years

Your result

Monthly EMI
0
  • Principal
  • Interest
Principal amount
0
Total interest
0
Total payment
0

Year-by-year breakdown
YearPrincipal paidInterest paidOutstanding balance

Figures are estimates. Actual bank EMIs can differ due to processing fees, rate changes, and rounding. Check with your lender before you borrow.

How EMI is calculated

An EMI (Equated Monthly Installment) is a fixed amount you pay each month until the loan is fully repaid. Each payment covers the interest for that month first, and the rest reduces your principal.

EMI = P × r × (1 + r)n / ((1 + r)n − 1)
P = loan amount, r = monthly interest rate (annual rate / 12 / 100), n = number of months

Because interest is charged on the outstanding balance, early EMIs are mostly interest and later EMIs are mostly principal.

Frequently asked questions

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI, but you pay more interest overall. Compare a few tenures with the sliders above to see the trade-off.

What happens if I prepay?

Prepaying reduces the outstanding principal, which lowers future interest. Ask your lender whether prepayment charges apply.

Is this calculator accurate for home loans?

It uses the standard reducing-balance formula used by most most banks. Your actual schedule may differ slightly because of fees, insurance, or floating-rate changes.