Everyday numbers, solved

EMI Calculator

Calculate your loan EMI, total interest, and total payment for a home, car, or personal loan, with a year-by-year repayment schedule.

Results update instantly.Change any value and the estimate recalculates on the spot.

Money

Loan EMI

Find the monthly instalment, total interest, and repayment schedule for any loan.

₹
%
years

Monthly EMI

-

  • Principal-
  • Total interest-
  • Total payment-
  • Interest share of total-
Year-by-year schedule
YearPrincipalInterestBalance

Assumes a fixed rate and equal monthly instalments. Processing fees and insurance are not included.

How it works

How the EMI Calculator works

Quick answer: A ₹30 lakh home loan at 8.5% for 20 years has an EMI of ₹26,035. Over the full tenure you pay ₹32,48,327 in interest, 52.0% of everything you repay.

Formula

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

P is the loan amount, r the yearly rate ÷ 12 ÷ 100, and n the number of monthly instalments.

Worked example

Loan ₹30,00,000, 8.5% a year, 20 years (240 instalments): EMI ₹26,035. Total payment ₹62,48,327, of which ₹32,48,327 is interest.

₹30 lakh at 8.5%: effect of tenure

TenureEMITotal interestTotal payment
10 years₹37,196₹14,63,485₹44,63,485Open
15 years₹29,542₹23,17,594₹53,17,594Open
20 years₹26,035₹32,48,327₹62,48,327Open
25 years₹24,157₹42,47,044₹72,47,044Open
30 years₹23,067₹53,04,266₹83,04,266Open

Assumptions and limits

  • Banks may compute on a daily-reducing balance or round EMIs slightly differently, so your sanction letter can differ by a few rupees.
  • Floating rates change over time; when the rate moves, banks usually change the tenure, the EMI, or both.
  • Processing fees, insurance, and GST on fees are not included.

Frequently asked questions

Is a longer tenure better?

A longer tenure lowers the EMI but raises total interest. On ₹30 lakh at 8.5%, 30 years instead of 20 cuts the EMI by about ₹2,970 but adds about ₹20.6 lakh of interest.

Does prepaying a home loan help?

Yes. Prepayments go straight to principal, which cuts future interest. Most banks do not charge a prepayment penalty on floating-rate home loans for individuals.