Loan EMI Calculator
Calculate EMI, total interest and view amortization schedule
Monthly EMI
₹10,258.27
for 60 months
Yearly Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | ₹83,815 | ₹39,285 | ₹4,16,185 |
| Year 2 | ₹91,223 | ₹31,876 | ₹3,24,962 |
| Year 3 | ₹99,286 | ₹23,813 | ₹2,25,676 |
| Year 4 | ₹1,08,062 | ₹15,037 | ₹1,17,614 |
| Year 5 | ₹1,17,614 | ₹5,485 | — |
Calculate the exact monthly EMI (Equated Monthly Instalment) for any loan — home, car, personal, education, or business. See the full repayment schedule, total interest, and how much principal is paid off each month.
How EMI is calculated
EMI is calculated using the standard reducing-balance formula. Each month you pay a fixed amount that covers part of the principal and the interest on the remaining balance.
EMI = [P × R × (1 + R)^N] / [(1 + R)^N − 1]- P
- Principal loan amount
- R
- Monthly interest rate (annual rate ÷ 12 ÷ 100)
- N
- Loan tenure in months
Example
For a home loan of ₹50,00,000 at 8.5% annual interest for 20 years (240 months), the monthly EMI is approximately ₹43,391. You pay ₹1,04,13,879 in total, of which ₹54,13,879 is interest.
Tips to reduce your EMI
- Make a larger down payment to reduce the principal.
- Choose a longer tenure for a lower monthly EMI (but you pay more total interest).
- Negotiate a lower interest rate or transfer to a bank with a better rate.
- Pre-pay whenever possible — even one extra EMI per year cuts years off the loan.
- Opt for reducing-balance interest rather than flat interest.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly payment you make to repay a loan. It includes both principal and interest, calculated so the loan is fully paid off at the end of the tenure.
Does this work for home loans?
Yes. Enter the loan amount, interest rate, and tenure (typically 15–30 years) to get the exact home loan EMI and full amortization schedule.
Does this work for car and personal loans?
Yes, the formula is identical for all loan types. Just enter the relevant principal, rate, and tenure.
What is an amortization schedule?
A month-by-month breakdown showing how much of each EMI goes toward principal versus interest, and the outstanding balance after each payment.
Is the interest rate monthly or annual?
Enter the annual rate. The calculator converts it to a monthly rate internally.