EMI Calculator

Calculate your monthly EMI, total interest payable, and complete amortisation schedule for any loan. For illustrative and educational purposes only — not a guarantee of actual loan terms.

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How to use this EMI Calculator
Select your loan type, enter the loan amount, interest rate, and tenure. Your monthly EMI, total interest payable, and full amortisation schedule are calculated instantly. Switch to the "Amortisation" tab to see a year-by-year or month-by-month breakdown. Use the Prepayment section to see how a lump-sum prepayment reduces your interest burden.
Home Loan EMI

EMI Calculator

Monthly EMI
₹0
Loan Amount (₹)
₹50,00,000
₹1L₹10 Cr
Interest Rate (% p.a.)
8.5%
5%30%
Loan Tenure (Years)
20 Years
1 Year30 Years
Monthly EMI
₹43,391
Per month
Total Interest
₹54,13,720
Interest payable
Total Payment
₹1,04,13,720
Principal + Interest
48%
Principal
Principal Amount
₹50,00,000
Total Interest
₹54,13,720
Total Payment
₹1,04,13,720
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⚠️ Important Disclaimer

Results shown are hypothetical and illustrative only. Actual EMI will differ based on lender-specific interest calculation methods (reducing balance vs. flat rate), processing fees, insurance premiums, prepayment penalties, GST charges, and other applicable costs.

This calculator does not constitute financial advice. Consult your bank, NBFC, or a AMFI-registered advisor before taking any loan. Compare multiple lenders before making a decision.

What is EMI — Equated Monthly Instalment?

An EMI (Equated Monthly Instalment) is the fixed amount you pay to your lender every month until the loan is fully repaid. Each EMI consists of two components: a portion that repays the principal and a portion that covers the interest. In the early months of a loan, a larger proportion of the EMI goes toward interest — and as the loan matures, the principal repayment portion increases.

Understanding your EMI helps you plan your monthly cash flow, compare loan offers from different lenders, and make informed decisions about prepayment — which can significantly reduce your total interest outgo over the loan tenure.

EMI Formula
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
P = Principal loan amount (₹)
r = Monthly interest rate (Annual rate ÷ 12 ÷ 100)
n = Total number of monthly instalments
EMI = Fixed monthly repayment amount
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Predictable Cash Flow
A fixed EMI makes monthly budgeting simple and predictable — you always know exactly how much goes toward your loan repayment each month.
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Reducing Balance Method
Interest is calculated on the outstanding principal balance — which decreases every month as you pay EMIs. This means you pay less interest over time compared to a flat-rate loan.
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Prepayment Advantage
Making a lump-sum prepayment reduces your outstanding principal, directly lowering the interest component of future EMIs and either shortening your tenure or reducing your EMI amount.
⚖️
Compare Before You Borrow
Even a 0.25% difference in interest rate can save lakhs over a 20-year home loan. Always use this calculator to compare offers from multiple lenders before committing.
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Smart Borrowing Tips
Compare effective rates. Always compare the Effective Annual Rate (EAR) — not the headline rate — across lenders to understand the true cost of your loan.
Prepay early. Making prepayments in the first 5–7 years saves the most interest because the outstanding principal is highest and interest contribution per EMI is greatest.
Shorter tenure = less interest. A 15-year home loan at the same rate costs significantly less total interest than a 20-year loan — even though EMIs are higher.
Check foreclosure charges. Some lenders charge 1–2% for prepayment or foreclosure. Factor this into your prepayment decision.

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