EMI calculator

Enter the loan amount, interest rate and tenure to see your monthly EMI and how much of it goes to interest.

Monthly EMI
₹8,678
Total interest₹10,82,776
Total repayment₹20,82,776
Interest share52.0%
Year-by-year schedule
YearPrincipal paidInterest paidBalance left
1₹19,902₹84,236₹9,80,098
2₹21,661₹82,477₹9,58,436
3₹23,576₹80,563₹9,34,860
4₹25,660₹78,479₹9,09,200
5₹27,928₹76,211₹8,81,272
6₹30,397₹73,742₹8,50,875
7₹33,084₹71,055₹8,17,791
8₹36,008₹68,131₹7,81,784
9₹39,191₹64,948₹7,42,593
10₹42,655₹61,484₹6,99,938
11₹46,425₹57,714₹6,53,513
12₹50,529₹53,610₹6,02,985
13₹54,995₹49,144₹5,47,990
14₹59,856₹44,283₹4,88,134
15₹65,147₹38,992₹4,22,987
16₹70,905₹33,234₹3,52,082
17₹77,172₹26,966₹2,74,910
18₹83,994₹20,145₹1,90,916
19₹91,418₹12,721₹99,498
20₹99,498₹4,640₹0

Typical loan ranges

Home loans usually run 15 to 30 years, car loans 3 to 7 years and personal loans 1 to 5 years. Personal loans carry the highest rates because they are unsecured. Compare the total interest, not only the EMI, when you choose a tenure.

Questions people ask

How is EMI calculated?

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. Banks use this reducing-balance method for home, car and personal loans.

Why is most of my early EMI interest?

Interest is charged on the outstanding balance. At the start the balance is highest, so interest takes a large share of each EMI. As you repay, the interest share falls and more of each EMI reduces the principal.

Does prepaying a loan help?

Yes. A part-prepayment cuts the outstanding balance, which reduces interest for the rest of the loan. RBI rules do not allow prepayment charges on floating-rate loans to individuals for non-business use.

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More calculators

Home loan EMIEMI, interest over 20 to 30 years, and the tax benefit in the old regime.Car loan EMIEMI for new and used car loans over 1 to 7 years.Personal loan EMIEMI and total cost of an unsecured personal loan.Simple interestInterest on the original amount only, for informal loans and short deposits.Compound interestHow interest on interest grows money, compounded yearly to daily.SIP calculatorFuture value of a monthly mutual fund SIP, with optional yearly step-up.

Results are estimates for information only, not financial or tax advice. Rates, rules and limits change, so check with your bank, employer or a qualified adviser before you decide.