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EMI Calculator

Calculate your monthly loan EMI, total interest and total payment in rupees.

₹25 lakh

Monthly EMI

₹21,696

Principal
₹25,00,000
Total interest
₹27,06,939
Total payment
₹52,06,939
Year-by-year repayment schedule
YearPrincipal paidInterest paidBalance left
1₹49,756₹2,10,591₹24,50,244
2₹54,154₹2,06,193₹23,96,091
3₹58,940₹2,01,407₹23,37,150
4₹64,150₹1,96,197₹22,73,000
5₹69,820₹1,90,527₹22,03,180
6₹75,992₹1,84,355₹21,27,188
7₹82,709₹1,77,638₹20,44,479
8₹90,020₹1,70,327₹19,54,459
9₹97,977₹1,62,370₹18,56,482
10₹1,06,637₹1,53,710₹17,49,846
11₹1,16,063₹1,44,284₹16,33,783
12₹1,26,321₹1,34,026₹15,07,462
13₹1,37,487₹1,22,860₹13,69,974
14₹1,49,640₹1,10,707₹12,20,335
15₹1,62,866₹97,480₹10,57,468
16₹1,77,262₹83,085₹8,80,206
17₹1,92,931₹67,416₹6,87,275
18₹2,09,984₹50,363₹4,77,291
19₹2,28,545₹31,802₹2,48,746
20₹2,48,746₹11,601₹0

How to use the EMI Calculator

  1. Enter the loan amount in rupees, or drag the slider.
  2. Enter the yearly interest rate your bank offers.
  3. Set the loan tenure in years or months.
  4. See your monthly EMI, total interest and total payment instantly. Open the schedule to see each year’s split.

How EMI is calculated

An EMI (Equated Monthly Instalment) is the fixed amount you pay your bank or lender every month until a loan is repaid. Each EMI has two parts: interest on the amount you still owe, and a repayment of the loan itself (principal). Indian banks calculate home, car and personal loan EMIs using this formula:

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

Here P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. For a ₹25 lakh home loan at 8.5% for 20 years, the EMI is about ₹21,696.

In the early years most of each EMI goes towards interest, because the outstanding balance is high. As the balance falls, more of every EMI repays the principal — open the year-by-year schedule to see this.

A longer tenure lowers the EMI but greatly increases the total interest you pay. Part-prepayments early in the loan save the most interest. Before borrowing, compare the total payment, not just the EMI, and keep your total EMIs comfortably within your monthly income. Actual EMIs can differ slightly because of processing fees, insurance and the exact date your loan is disbursed.

Frequently asked questions

Is this EMI calculator accurate for Indian banks?

Yes. It uses the standard reducing-balance formula with monthly rests that SBI, HDFC, ICICI and other banks use. Your actual EMI may differ by a few rupees because of the disbursal date, fees or rounding.

Does a longer tenure save money?

No. A longer tenure lowers the monthly EMI but increases the total interest a lot. For example, extending a ₹25 lakh loan at 8.5% from 15 to 25 years cuts the EMI by about ₹4,500 but adds about ₹16 lakh in interest.

What is the difference between a flat rate and a reducing rate?

With a reducing rate, interest is charged only on the amount you still owe, so it falls over time. A flat rate charges interest on the full original amount for the whole tenure, so a 10% flat rate costs much more than a 10% reducing rate.

Can I use this for home, car and personal loans?

Yes. All these loans use the same EMI formula. Just enter the amount, rate and tenure from your loan offer.

Does the calculator include processing fees or insurance?

No. It calculates the EMI on the loan amount only. Add any fees or insurance that are added to the loan amount if you want to include them.

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