EMI Calculator
Calculate monthly loan EMI, total interest and repayment with an amortization schedule.
Monthly EMI
- Principal
- ₹50,00,000.00
- Total Interest
- ₹54,13,878.80
- Total Payment
- ₹1,04,13,878.80
- Tenure
- 20 years
Principal vs interest
Ratio 1.08Amortization Schedule (Yearly)
Preview of the first five years.
| Year | Principal Paid | Interest Paid | Total Payment | Balance | Loan Paid To Date % |
|---|---|---|---|---|---|
| ₹99,511.46 | ₹4,21,182.48 | ₹5,20,693.94 | ₹49,00,488.54 | 2.0% | |
| ₹1,08,307.37 | ₹4,12,386.57 | ₹5,20,693.94 | ₹47,92,181.17 | 4.2% | |
| ₹1,17,880.75 | ₹4,02,813.19 | ₹5,20,693.94 | ₹46,74,300.42 | 6.5% | |
| ₹1,28,300.34 | ₹3,92,393.60 | ₹5,20,693.94 | ₹45,46,000.08 | 9.1% | |
| ₹1,39,640.92 | ₹3,81,053.02 | ₹5,20,693.94 | ₹44,06,359.16 | 11.9% |
This calculator provides estimates for informational purposes only. Actual lender calculations, fees, taxes, insurance, processing charges and repayment terms may differ.
What is EMI?
An equated monthly installment, or EMI, is the scheduled amount paid toward a loan each month. A reducing-balance EMI contains both interest on the outstanding balance and a principal portion that gradually repays the amount borrowed.
How EMI is calculated
The standard formula is EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is the monthly interest rate and n is the number of monthly installments. This calculator converts the annual percentage rate to a monthly rate and handles zero-interest loans separately.
What affects your EMI?
The loan amount, annual interest rate and repayment tenure determine the EMI. A larger principal or higher rate usually increases the monthly payment. Extending the tenure can reduce the monthly amount while increasing the time over which interest accrues.
Principal vs interest
Early payments on a typical reducing-balance loan often contain a larger interest share because the outstanding balance is highest. As principal falls, monthly interest falls and more of the same EMI goes toward principal. The breakdown and schedule show this change over time.
How loan tenure affects EMI
A longer tenure spreads repayment across more installments and generally lowers the monthly EMI, but it usually raises total interest. A shorter tenure generally requires a larger monthly payment and can reduce total interest, assuming the rate and other terms stay the same.
Fixed vs floating interest rates
A fixed rate generally stays constant for the agreed period, while a floating rate may change with a lender benchmark. This calculator uses one annual rate for the full schedule and does not predict future rate changes or lender-specific reset rules.
Why lender EMI may differ
The base EMI uses the loan principal, annual interest rate and tenure. Optional one-time payments, extra monthly payments or EMI multipliers model earlier repayment and interest savings. Home Loan and Car Loan calculators also let you enter processing fees, tax/GST on those fees and other upfront costs separately; these do not increase the EMI principal. Lender dates, rounding, rate changes, insurance and contractual charges can differ, so verify the lender’s repayment schedule.
How to use
- Set the INR loan amount with the slider, or select the displayed value to enter an exact amount.
- Adjust the annual interest rate and loan tenure in years or months.
- Optionally enable Prepayment & Extra EMI. Select Calculate EMI, then review the base payment, prepayment comparison and amortization schedule.
Frequently asked questions
What is EMI?
EMI means equated monthly installment. It is the scheduled monthly loan payment containing principal repayment and interest on the outstanding balance.
How is EMI calculated?
It uses the standard reducing-balance formula with the principal, monthly interest rate and number of monthly installments. At 0% interest, principal is divided equally by the number of months.
How can I reduce my EMI?
A lower loan amount, lower interest rate or longer tenure can reduce the EMI. A longer tenure can increase total interest, and refinancing or prepayment terms should be checked directly with the lender.
Does a longer tenure reduce EMI?
Usually, because the principal is spread over more monthly installments. The exact change depends on the loan amount and interest rate.
Does a longer tenure increase total interest?
Usually yes. Even with a lower EMI, interest is charged over more months, which generally increases the total amount paid.
Can I calculate home loan EMI?
Yes. Enter the financed amount, annual rate and tenure for a base EMI estimate, with optional prepayment scenarios. Use Home Loan Calculator to include property value, down payment and separate upfront fees and tax/GST on fees. Neither calculator predicts floating-rate changes or guarantees lender figures.
Can I calculate car loan EMI?
Yes. Use the financed car-loan principal rather than the vehicle's full price if you are making a down payment.
Can I calculate personal loan EMI?
Yes. The same reducing-balance formula applies when the personal loan uses regular monthly installments and a constant annual rate.
Does this include processing fees?
The base EMI is calculated from principal, rate and tenure, without adding upfront fees. Separate processing-fee, tax/GST-on-fee and other upfront-cost inputs are available in Home Loan and Car Loan calculators, not this standalone EMI Calculator. Prepayment scenarios are available here. Check insurance, late fees and other contractual charges with your lender.
What happens at 0% interest?
The monthly payment is the principal divided by the number of months. Total interest is zero and total payment equals the original principal.
Why is my bank EMI slightly different?
Banks can use different rounding, dates, compounding rules, rate resets or fees. Refer to the lender's repayment schedule for the contractual amount.