EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], with r = yearly rate ÷ 12 ÷ 100 and n = months. Processing fees and insurance are not included.
| 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 |
![EMI Calculator formula: EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]; Total payment = EMI × n](https://powercalculators.com/assets/img/calculators/loan-emi-1200x630.jpg?v=0350d6c216 "EMI Calculator — formula explained")
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An EMI (equated monthly instalment) is the fixed amount you pay every month to repay a loan. Each EMI covers that month's interest plus part of the principal, so the interest share is highest in the early years and shrinks as the balance falls.
Use this calculator before you borrow to check whether a home, car or personal loan fits your monthly budget, and to see how the amount, interest rate and tenure change what you pay overall.
| Loan Amount | ₹2,500,000 |
| Annual Interest Rate | 8.5% |
| Loan Term | 20 yrs |
| Monthly EMI | ₹21,696 |
| Total Interest | ₹27,06,939 |
| Total Payment | ₹52,06,939 |
| Interest as % of loan | 108.3% |
| EMI per ₹1 lakh | ₹868 |
| Interest in the first EMI | ₹17,708 of ₹21,696 |
| Other tenures | 15 years: ₹24,618 EMI, ₹19.31 lakh interest · 25 years: ₹20,131 EMI, ₹35.39 lakh interest |
EMI ₹21,696; total interest ₹27,06,939.
Try this example →| Loan Amount | ₹800,000 |
| Annual Interest Rate | 9% |
| Loan Term | 5 yrs |
| Monthly EMI | ₹16,607 |
| Total Interest | ₹1,96,401 |
| Total Payment | ₹9,96,401 |
| Interest as % of loan | 24.6% |
| EMI per ₹1 lakh | ₹2,076 |
| Interest in the first EMI | ₹6,000 of ₹16,607 |
| Other tenures | 10 years: ₹10,134 EMI, ₹4.16 lakh interest |
EMI ₹16,607; total interest ₹1,96,401.
Try this example →| Loan Amount | ₹500,000 |
| Annual Interest Rate | 11% |
| Loan Term | 3 yrs |
| Monthly EMI | ₹16,369 |
| Total Interest | ₹89,297 |
| Total Payment | ₹5,89,297 |
| Interest as % of loan | 17.9% |
| EMI per ₹1 lakh | ₹3,274 |
| Interest in the first EMI | ₹4,583 of ₹16,369 |
| Other tenures | 8 years: ₹7,854 EMI, ₹2.54 lakh interest |
EMI ₹16,369; total interest ₹89,297.
Try this example →It lowers each EMI but increases the total interest you pay, because the balance stays outstanding for longer. Pick the shortest tenure you can afford.
On a fixed-rate loan, yes. On a floating-rate loan, the lender changes either your EMI or your tenure when the benchmark rate changes.
No. The calculator shows principal and interest only. Processing fees, insurance and other charges are extra.
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is the loan, r the monthly rate (yearly rate ÷ 12 ÷ 100) and n the number of months.
About ₹20,750 for 5 years at 9%, ₹12,670 for 10 years at 9%, or ₹8,680 for 20 years at 8.5%.