EMI Calculator
Plan your home, car or personal loan — see the EMI and total interest before you borrow.
Year-wise repayment schedule
For information only. Results are estimates based on the numbers you enter and a constant rate. They are not financial, tax or investment advice — real returns, fees, taxes and lender terms vary. Speak to a qualified adviser before making financial decisions.
How it works
- Enter the loan amount in rupees.
- Enter the annual interest rate and tenure.
- Check your monthly EMI, total interest and total amount payable.
- Open the year-wise schedule to see principal and interest paid each year.
Frequently asked questions
What is an EMI?
An EMI (equated monthly instalment) is the fixed amount you pay your lender every month until the loan is repaid. Each EMI covers that month's interest plus part of the principal.
What is the EMI 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.
Does a longer tenure reduce my EMI?
Yes, a longer tenure lowers each EMI but increases the total interest you pay. Try 15 and 20 years to see the trade-off.
Are processing fees and insurance included?
No. Banks may add processing fees, insurance and taxes. Check your sanction letter for the exact EMI and charges.
Plan your EMI before applying
Home loans, car loans and personal loans in India are repaid through equated monthly instalments. Knowing your EMI in advance helps you choose an affordable loan amount and tenure — lenders typically prefer total EMIs below 40–50% of take-home pay.
Tenure versus total interest
A longer tenure makes each EMI smaller but increases the total interest dramatically. Compare, for example, a 15-year and a 20-year home loan: the monthly saving is modest, but the extra interest can be lakhs of rupees. Prepaying part of the principal when you can reduces both.