Raising your EMI even 10% can cut years off a long loan. The last EMI may be smaller than the rest.
| EMI | Tenure | Interest (approx.) |
|---|---|---|
| ₹15,000 (yours) | 7 yrs 9 m | ₹3.91 lakh |
| ₹16,500 (+10%) | 6 yrs 10 m | ₹3.38 lakh |
| ₹18,000 (+20%) | 6 yrs 1 m | ₹2.98 lakh |
| ₹22,500 (+50%) | 4 yrs 7 m | ₹2.21 lakh |
![Loan Term formula: n = ln[ EMI ÷ (EMI − P × r) ] ÷ ln(1 + r) (rounded up); Total payment = EMI × n](https://powercalculators.com/assets/img/calculators/loan-term-1200x630.jpg?v=fe17c41792 "Loan Tenure Calculator — formula explained")
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If you pay a fixed EMI, how long until the loan is cleared? This calculator answers that from your EMI, the loan amount and the interest rate, and also shows the total you will have paid.
It is handy for testing what happens if you raise your EMI: even a small increase can cut years off the loan and save a large amount of interest.
| EMI | ₹15,000 |
| Loan Amount | ₹1,000,000 |
| Annual Interest Rate | 9% |
| Loan tenure | 7 years 9 months (93 EMIs) |
| Total Payment | ₹13,91,497 |
| Total Interest | ₹3,91,497 |
Tenure 7 years 9 months (93 EMIs).
Try this example →| EMI | ₹30,000 |
| Loan Amount | ₹3,000,000 |
| Annual Interest Rate | 8.5% |
| Loan tenure | 14 years 7 months (175 EMIs) |
| Total Payment | ₹52,36,977 |
| Total Interest | ₹22,36,977 |
Tenure 14 years 7 months (175 EMIs); interest ₹22,36,977.
Try this example →If the EMI does not even cover each month's interest, the loan balance keeps growing. Increase the EMI or lower the loan amount.
Yes. Extra payments go straight to the principal, which shortens the loan and cuts the interest on every later month.
The tenure is rounded up to whole months, so the final EMI usually only needs to cover what is left.
n = ln[EMI ÷ (EMI − P × r)] ÷ ln(1 + r), where r is the monthly rate. The answer is in months.