EMI Calculator
Calculate your monthly loan EMI instantly. Adjust loan amount, interest rate, and tenure — see principal vs interest breakdown update in real time.
This calculator works out the monthly EMI on a loan using the standard reducing-balance formula: EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). Enter the loan amount, annual interest rate and tenure to get the monthly instalment, the total interest paid over the loan, and a chart showing how much of the total is principal versus interest.
EMI Breakdown
Monthly EMI
₹20,517
for 60 months
About this tool
A fast, accurate EMI calculator for home loans, car loans, and personal loans. Enter a loan amount, annual interest rate, and tenure — the monthly EMI updates instantly as you type or drag the sliders. Quick preset chips let you jump to common amounts and rates without typing.
The donut chart and progress bars show the split between principal (the amount you borrowed) and interest (the cost of the loan). Toggle tenure between years and months for precise control. All calculations run in your browser — no data is sent to any server.
How to use
Enter the loan amount
Type the principal or drag the slider. Use the quick chips — ₹1L, ₹5L, ₹10L, ₹25L, ₹50L — to jump to common loan amounts instantly.
Set the interest rate
Enter the annual interest rate offered by your lender. Use the preset buttons for common home, car, or personal loan rates.
Choose the tenure
Toggle between years and months for precise control. Adjust the slider or type directly.
Read the results
The monthly EMI, total payment, and total interest update instantly. The donut chart shows the principal vs interest split.
A worked example
Take a home loan of ₹30,00,000 at 8.5% for 20 years. The monthly rate is 8.5 ÷ 12 ÷ 100 = 0.00708, and the tenure is 240 months. Running those through the EMI formula gives a monthly instalment of about ₹26,035. Over the full term you repay roughly ₹62.5 lakh — of which ₹32.5 lakh is interest.
That is the number most borrowers never work out: on a twenty-year loan at this rate, you pay more in interest than you borrowed. The EMI feels manageable precisely because the cost is spread thin enough to disappear.
Now shorten the tenure to 15 years, keeping everything else the same. The EMI rises to about ₹29,542 — ₹3,507 more each month, a 13% increase. But total interest falls to ₹23.2 lakh, saving roughly ₹9.3 lakh. That is the real trade in any loan decision: a modest monthly increase against a very large lifetime saving. Run both tenures in the calculator above before accepting the one your lender proposes.
At a glance
- Formula used
- EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- Method
- Reducing balance — interest is charged on the outstanding principal, which falls with every payment
- Rate conversion
- r = annual rate ÷ 12 ÷ 100, n = tenure in months
- Inputs
- Loan amount, annual interest rate, tenure
- Outputs
- Monthly EMI, total interest, total payment, and a chart splitting principal against interest
- Not included
- Processing fees, insurance and prepayment charges — lenders add these separately to the quoted rate
- Privacy
- All maths runs in your browser; no figure is sent to a server
Sources & references
- Reserve Bank of India — Policy rates, and the rules lenders follow on interest reset and prepayment
- RBI — Retail Direct & consumer education — Guidance on comparing loan offers and understanding the annualised cost
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Frequently asked questions
Common questions about EMI calculation and loan repayment.
Last updated