- Monthly EMI
- ₹8,678
- Total interest
- ₹10,82,776
- Total payment
- ₹20,82,776
Principal: ₹10,00,000 (48.0%)Interest: ₹10,82,776 (52.0%)
| Year | Paid | Interest | Principal | Balance left |
|---|---|---|---|---|
| 1 | ₹1,04,139 | ₹84,236 | ₹19,902 | ₹9,80,098 |
| 2 | ₹1,04,139 | ₹82,477 | ₹21,661 | ₹9,58,436 |
| 3 | ₹1,04,139 | ₹80,563 | ₹23,576 | ₹9,34,860 |
| 4 | ₹1,04,139 | ₹78,479 | ₹25,660 | ₹9,09,200 |
| 5 | ₹1,04,139 | ₹76,211 | ₹27,928 | ₹8,81,272 |
| 6 | ₹1,04,139 | ₹73,742 | ₹30,397 | ₹8,50,875 |
| 7 | ₹1,04,139 | ₹71,055 | ₹33,084 | ₹8,17,791 |
| 8 | ₹1,04,139 | ₹68,131 | ₹36,008 | ₹7,81,784 |
| 9 | ₹1,04,139 | ₹64,948 | ₹39,191 | ₹7,42,593 |
| 10 | ₹1,04,139 | ₹61,484 | ₹42,655 | ₹6,99,938 |
| 11 | ₹1,04,139 | ₹57,714 | ₹46,425 | ₹6,53,513 |
| 12 | ₹1,04,139 | ₹53,610 | ₹50,529 | ₹6,02,985 |
| 13 | ₹1,04,139 | ₹49,144 | ₹54,995 | ₹5,47,990 |
| 14 | ₹1,04,139 | ₹44,283 | ₹59,856 | ₹4,88,134 |
| 15 | ₹1,04,139 | ₹38,992 | ₹65,147 | ₹4,22,987 |
| 16 | ₹1,04,139 | ₹33,234 | ₹70,905 | ₹3,52,082 |
| 17 | ₹1,04,139 | ₹26,966 | ₹77,172 | ₹2,74,910 |
| 18 | ₹1,04,139 | ₹20,145 | ₹83,994 | ₹1,90,916 |
| 19 | ₹1,04,139 | ₹12,721 | ₹91,418 | ₹99,498 |
| 20 | ₹1,04,139 | ₹4,640 | ₹99,498 | ₹0 |
Runs entirely in your browser. Nothing you enter is sent anywhere.
Please note: this calculator is a free aid for working out numbers, not financial, tax or investment advice. It has not been prepared or checked by a chartered accountant or financial adviser, and results may be inaccurate for your situation. Check important decisions with a qualified professional.
How to use EMI Calculator
- Enter the loan amount, the yearly interest rate your lender quotes, and the tenure in years or months.
- Read the monthly EMI, the total interest and the total you will repay.
- Scroll the schedule to see how much of each year's payments goes to interest and how fast the balance falls.
The EMI formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the amount borrowed, r is the monthly rate (the yearly rate divided by 12, then by 100) and n is the number of monthly instalments.
Each month, interest is charged only on the balance still outstanding. The EMI stays the same, so in the early years most of it pays interest; later, most of it reduces the loan. That is why prepaying early saves the most.
Worked example
A ₹10,00,000 loan at 8.5% a year for 20 years gives r = 0.085 ÷ 12 ≈ 0.00708 and n = 240. The EMI comes to about ₹8,678.
Over 240 months you pay about ₹20,82,776 in total, of which ₹10,82,776 is interest: more than the amount borrowed. Shortening the same loan to 15 years raises the EMI to about ₹9,847 but cuts total interest to roughly ₹7,72,500.
Frequently asked questions
Is this the exact EMI my bank will charge?
It is the standard reducing-balance calculation most lenders use. Your bank's figure can differ slightly because of processing fees, insurance added to the loan, or how it rounds and dates the first instalment.
Does a lower EMI mean a cheaper loan?
Not necessarily. A longer tenure lowers the EMI but increases the total interest. Compare the total interest figure, not just the EMI.
How does a change in the interest rate affect a floating-rate loan?
Lenders usually keep the EMI the same and change the tenure, or keep the tenure and change the EMI. Re-run the calculator with the new rate and the remaining balance to see both options.
Is my data stored?
No. The calculation happens in your browser and nothing you type is sent anywhere.