EMI calculator
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months.
How much is the EMI on a ₹20 lakh home loan or a ₹5 lakh personal loan? Pick your loan amount for EMIs at every tenure and several interest rates, the total interest and a yearly repayment schedule.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months.
| Loan amount | Monthly EMI | Total interest |
|---|---|---|
| ₹10 Lakh | ₹8,364 | ₹10,07,456 |
| ₹15 Lakh | ₹12,547 | ₹15,11,184 |
| ₹20 Lakh | ₹16,729 | ₹20,14,912 |
| ₹25 Lakh | ₹20,911 | ₹25,18,640 |
| ₹30 Lakh | ₹25,093 | ₹30,22,368 |
| ₹35 Lakh | ₹29,275 | ₹35,26,097 |
| ₹40 Lakh | ₹33,458 | ₹40,29,825 |
| ₹50 Lakh | ₹41,822 | ₹50,37,281 |
| ₹60 Lakh | ₹50,186 | ₹60,44,737 |
| ₹75 Lakh | ₹62,733 | ₹75,55,921 |
| ₹1 Crore | ₹83,644 | ₹1,00,74,562 |
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), with P the loan amount, r the monthly interest rate and n the number of monthly instalments.
Yes, but you pay much more interest in total. A ₹20 lakh home loan at 8% costs about ₹16,729 a month over 20 years (₹20.1 lakh interest) and ₹14,675 over 30 years (₹32.8 lakh interest).