An EMI calculator shows the fixed monthly instalment for a loan, how much of it is interest, and the total you will repay. Enter the loan amount, interest rate and tenure.
EMI Calculator
Work out the monthly EMI, total interest and full repayment schedule for a home, car or personal loan.
- Principal amount
- ₹10,00,000₹10 lakh
- Total interest
- ₹2,45,501₹2.46 lakh
- Total amount payable
- ₹12,45,501₹12.46 lakh
Results are estimates for educational purposes only and are not financial, tax or legal advice. For more details, do consult a lawyer or a subject-matter expert.
Principal vs interest
View chart data as a table
| Principal | ₹10,00,000 |
|---|---|
| Interest | ₹2,45,501 |
Year-wise amortisation schedule
Tap a year to see its monthly breakdown. Amounts in the schedule are shown to the paisa.
| Year | Principal | Interest | Total paid | Balance |
|---|---|---|---|---|
| ₹1,65,830.02 | ₹83,270.24 | ₹2,49,100.26 | ₹8,34,169.98 | |
| ₹1,81,386.02 | ₹67,714.24 | ₹2,49,100.26 | ₹6,52,783.95 | |
| ₹1,98,401.28 | ₹50,698.98 | ₹2,49,100.26 | ₹4,54,382.67 | |
| ₹2,17,012.69 | ₹32,087.57 | ₹2,49,100.26 | ₹2,37,369.98 | |
| ₹2,37,369.98 | ₹11,730.28 | ₹2,49,100.26 | ₹0.00 |
Explain this result
You borrow ₹10,00,000 at 9.00% a year for 5 years. Banks charge interest monthly, so the monthly rate is 9.00% ÷ 12.
The EMI formula is EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r the monthly rate and n the number of months (60).
Your EMI stays the same every month, but its split changes: early EMIs are mostly interest, later ones mostly principal. Over the full tenure you pay ₹2,45,501 as interest – that is 19.71% of everything you repay (₹12,45,501).
Tip: a shorter tenure or part-prepayments sharply reduce the total interest.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the annual interest rate divided by 12 (as a decimal) and n is the tenure in months. For ₹10 lakh at 9% for 20 years the EMI is about ₹8,997.
Does a longer tenure reduce my EMI?
Yes, but you pay much more interest in total. Choose the shortest tenure whose EMI fits comfortably within your budget.
Is the EMI shown here exactly what my bank will charge?
It is a close estimate. Banks may round differently, add processing fees or insurance, or use a floating rate that changes over time.
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Worked example
A loan of ₹10 lakh at 9% a year for 5 years has an EMI of about ₹20,758. Over 60 months you repay ₹12,45,501, of which ₹2,45,501 is interest – about 20% of everything you pay.
How to use this calculator
- Pick the loan type (home, car or personal) – this sets sensible limits.
- Enter the amount. You can type shorthand like “10L” or “1.5cr”.
- Enter the yearly interest rate from your lender’s offer letter.
- Choose the tenure in years or months.
- Open the schedule to see how each year’s EMIs split between interest and principal.
Tips for Indian borrowers
- Most home loans are linked to the RBI repo rate. When the repo rate changes, your bank usually changes the tenure, not the EMI – ask which they will do.
- Early EMIs are mostly interest. Prepaying in the first few years saves the most.
- Compare the APR (rate plus fees), not just the headline rate.
Next steps
See how much you can borrow with the home loan eligibility calculator, check today’s home loan interest rates, or work out savings with the loan prepayment calculator.