EMI Calculator
Calculate your Equated Monthly Installment (EMI) for any loan.
| Year | Principal | Interest | Total Pay | Balance |
|---|---|---|---|---|
| 1 | ₹66,327 | ₹82,456 | ₹1,48,783 | ₹9,33,673 |
| 2 | ₹72,190 | ₹76,593 | ₹1,48,783 | ₹8,61,483 |
| 3 | ₹78,571 | ₹70,212 | ₹1,48,783 | ₹7,82,912 |
| 4 | ₹85,516 | ₹63,267 | ₹1,48,783 | ₹6,97,396 |
| 5 | ₹93,075 | ₹55,708 | ₹1,48,783 | ₹6,04,321 |
| 6 | ₹1,01,302 | ₹47,481 | ₹1,48,783 | ₹5,03,019 |
| 7 | ₹1,10,256 | ₹38,527 | ₹1,48,783 | ₹3,92,763 |
| 8 | ₹1,20,002 | ₹28,781 | ₹1,48,783 | ₹2,72,762 |
| 9 | ₹1,30,609 | ₹18,174 | ₹1,48,783 | ₹1,42,153 |
| 10 | ₹1,42,153 | ₹6,630 | ₹1,48,783 | ₹0 |
Monthly EMI
₹12,399
Principal Amount
₹10,00,000
Total Interest
₹4,87,828
Total Payment
₹14,87,828
How the EMI Calculator works
EMI (Equated Monthly Instalment) is the fixed amount you repay every month on a loan, covering both interest and principal. This calculator computes your EMI from the loan amount, interest rate and tenure, and shows the total interest you'll pay over the life of the loan.
Early EMIs are mostly interest; as the loan progresses, more of each payment goes toward principal. The amortization view breaks this split down month by month.
EMI formula
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
P = principal, r = monthly interest rate (annual ÷ 12 ÷ 100), n = number of months.
Example
A ₹10,00,000 loan at 9% p.a. for 5 years (60 months) works out to an EMI of about ₹20,758, with roughly ₹2.45 lakh paid as interest over the term.
Frequently asked questions
How is EMI calculated?+
Using the reducing-balance formula above: interest is charged on the outstanding principal each month, and the EMI is set so the loan is fully repaid by the end of the tenure.
Does prepaying a loan reduce the EMI or the tenure?+
Usually the tenure — most lenders keep the EMI the same and shorten the loan when you prepay, which cuts total interest sharply. Some let you choose to lower the EMI instead.
How can I reduce my EMI?+
Choose a longer tenure (lower EMI but more total interest), make a larger down payment, negotiate a lower rate, or refinance to a cheaper loan.
What is loan amortization?+
Amortization is the schedule showing how each EMI splits between interest and principal over time. Early payments are interest-heavy; later ones are principal-heavy.
Is a lower interest rate always better?+
Generally yes, but also compare processing fees and prepayment charges — the effective cost matters more than the headline rate alone.