Financial calculatorsEMI Calculator
EMI Calculator
Work out the monthly EMI and total interest on a home, car or personal loan.
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- Principal amount
- ₹50 L
- Total interest
- ₹54.1 L
- Monthly EMI
- ₹43,391
- Principal amount₹50 L 48%
- Total interest₹54.1 L 52%
Standard reducing-balance EMI. Processing fees, insurance and rate resets are not included; your lender's schedule prevails.
Plan this with us →How this calculator works
Enter the loan amount, the yearly interest rate and the tenure in years. The calculator uses the standard reducing-balance EMI formula and splits the total you repay into principal and interest. Try a shorter tenure to see how much interest a faster repayment saves.
What is an EMI calculator?
An EMI calculator works out the equated monthly instalment on a home, car or personal loan from the loan amount, the interest rate and the tenure, and splits the total you repay into principal and interest. It uses the reducing-balance formula every lender uses.
How is it calculated?
EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1)
- P is the loan amount
- i is the monthly rate: the yearly rate divided by 12
- n is the tenure in months
Processing fees, insurance and rate resets are not included.
Questions people ask
A longer tenure lowers the monthly EMI but raises the total interest, because the balance stays outstanding longer. In the example, moving from 20 to 15 years adds about ₹5,800 a month and saves about ₹15.5 lakh in interest.
A prepayment reduces the outstanding principal, so every later EMI carries less interest and the loan ends sooner. Early prepayments save the most because interest is front-loaded. Floating-rate home loans to individuals carry no prepayment penalty.
Compare the loan's after-tax rate with the return you can reasonably assume on the investment, and weigh the certainty of saving interest against the uncertainty of market returns. Our guide on prepaying a home loan or investing in a SIP works through the cases.
A month-by-month table showing how much of each EMI goes to interest, how much to principal and what balance remains. In the early years most of the EMI is interest; the split reverses towards the end. Your lender provides it.
A fixed rate keeps the EMI unchanged for the fixed period; a floating rate moves with the lender's benchmark, so the EMI or the tenure changes when rates change. Most home loans in India are floating. Re-run the calculator at a higher rate to see what a reset would do.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Figures are illustrations at an assumed rate, not a forecast. Talk to us to match a plan to your goals.