EMI Calculator
Calculate your monthly EMI, total interest and amortization schedule for home, car or personal loans.
Monthly EMI
₹21,696
Total Interest Payable
₹27,06,939
Total Payment (Principal + Interest)
₹52,06,939
Principal vs Interest
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹49,756 | ₹2,10,591 | ₹24,50,244 |
| 2 | ₹54,154 | ₹2,06,193 | ₹23,96,091 |
| 3 | ₹58,940 | ₹2,01,407 | ₹23,37,150 |
| 4 | ₹64,150 | ₹1,96,197 | ₹22,73,000 |
| 5 | ₹69,820 | ₹1,90,527 | ₹22,03,180 |
| 6 | ₹75,992 | ₹1,84,355 | ₹21,27,188 |
| 7 | ₹82,709 | ₹1,77,638 | ₹20,44,479 |
| 8 | ₹90,020 | ₹1,70,327 | ₹19,54,459 |
| 9 | ₹97,977 | ₹1,62,370 | ₹18,56,482 |
| 10 | ₹1,06,637 | ₹1,53,710 | ₹17,49,846 |
| 11 | ₹1,16,063 | ₹1,44,284 | ₹16,33,783 |
| 12 | ₹1,26,321 | ₹1,34,026 | ₹15,07,462 |
| 13 | ₹1,37,487 | ₹1,22,860 | ₹13,69,974 |
| 14 | ₹1,49,640 | ₹1,10,707 | ₹12,20,335 |
| 15 | ₹1,62,866 | ₹97,480 | ₹10,57,468 |
| 16 | ₹1,77,262 | ₹83,085 | ₹8,80,206 |
| 17 | ₹1,92,931 | ₹67,416 | ₹6,87,275 |
| 18 | ₹2,09,984 | ₹50,363 | ₹4,77,291 |
| 19 | ₹2,28,545 | ₹31,802 | ₹2,48,746 |
| 20 | ₹2,48,746 | ₹11,601 | ₹0 |
How to Use This Calculator
1. Enter your loan amount (principal) in rupees.
2. Enter the annual interest rate offered by your bank or NBFC.
3. Enter the loan tenure in years.
4. Your monthly EMI, total interest and full amortization schedule update instantly.
Formula & Explanation
EMI is calculated using the standard reducing-balance formula used by Indian banks:
EMI = P × r × (1+r)^n / [(1+r)^n − 1]
Where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the loan tenure in months.
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Frequently Asked Questions
All EMIs use the same reducing-balance formula: EMI = P × r × (1+r)^n / [(1+r)^n − 1], where P is the loan amount, r is the monthly interest rate and n is the tenure in months. Only the typical interest rate and tenure differ by loan type.
Yes, it uses the exact reducing-balance formula used by RBI-regulated banks and NBFCs. Actual EMI may vary slightly due to processing fees, rounding conventions or floating interest rates.
It is a month-by-month (or year-by-year) breakdown showing how much of each EMI goes toward principal repayment versus interest, and the remaining loan balance.
Yes, a longer tenure reduces the monthly EMI but increases the total interest paid over the life of the loan. A shorter tenure means higher EMI but lower total interest.
Yes, most Indian lenders allow partial or full prepayment. Prepaying early in the tenure saves more interest since the outstanding principal is higher in the initial years.
No, this calculator only computes the principal and interest based EMI. Add any processing fee, GST or insurance premium separately as charged by your lender.
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