EMI Calculator
Work out the exact monthly EMI, total interest, and year-wise amortisation for any loan — personal, home, car, or business. Drag the sliders and the numbers update instantly. Free, no signup.
EMI Calculator
Year-wise breakdown
| Year | Principal paid | Interest paid | Outstanding |
|---|---|---|---|
| 1 | ₹1,60,505 | ₹97,421 | ₹8,39,495 |
| 2 | ₹1,78,194 | ₹79,733 | ₹6,61,301 |
| 3 | ₹1,97,831 | ₹60,096 | ₹4,63,470 |
| 4 | ₹2,19,633 | ₹38,294 | ₹2,43,837 |
| 5 | ₹2,43,837 | ₹14,090 | ₹0 |
Get the EMI right before you sign
- Keep total EMIs under 40–50% of net monthly income — banks reject above that, and your budget will too
- A shorter tenure with a tighter EMI almost always beats a longer tenure with prepayments you 'plan' to make
- Compare the effective rate including processing fee — a 1% fee on a 1-year loan adds roughly 1.8% to the true cost
- For floating-rate loans, RBI bars prepayment penalties for individual borrowers — prepay freely
EMI calculator FAQ
What is the EMI calculation formula?
EMI = [P × R × (1+R)^N] / [(1+R)^N − 1], where P is the loan amount, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the number of monthly instalments. Example: a ₹10 lakh loan at 10.5% for 5 years gives an EMI of about ₹21,494.
Does this EMI calculator work for all loan types?
Yes. The reducing-balance EMI formula is identical for personal loans, home loans, car loans, education loans, and business loans. Only the typical rate range differs — home loans are 8.25–9.5%, car loans 8.7–11%, and personal loans 10.5–24% in 2026.
What happens to my EMI at 0% interest?
At 0% interest the EMI is simply the loan amount divided by the number of months — a ₹1.2 lakh loan for 12 months costs exactly ₹10,000 a month with zero interest. Genuine 0% offers exist mainly as no-cost EMI on consumer purchases; check for hidden processing fees, which act like interest.
How does tenure affect my EMI and total interest?
Longer tenure lowers the monthly EMI but raises total interest sharply. A ₹10 lakh loan at 10.5% costs about ₹21,494/month over 5 years (₹2.9 lakh interest), but about ₹13,493/month over 10 years (₹6.2 lakh interest) — more than double the interest for the same loan.
Is the EMI fixed for the whole loan?
For fixed-rate loans, yes. For floating-rate loans (most home loans), the EMI or the tenure changes when the bank's repo-linked rate moves. Banks usually keep the EMI constant and stretch the tenure — ask them to raise the EMI instead if you can afford it, since that saves interest.
Why do early EMIs feel like they don't reduce my loan?
EMIs are interest-heavy at the start. In the first year of a 20-year loan, roughly 70% of each EMI goes to interest. The split flips over time — that's why prepaying in the first few years saves the most money.