EMI calculator

Your monthly EMI, total interest and the full repayment schedule.

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Loan type

30 lakh

Tenure in
Prepayment

Monthly EMI

₹26,035

for 20 yr (240 EMIs)

Principal 48%, interest 52%
52%interest
Principal
₹30,00,000
Total interest32.48 lakh
₹32,48,327
Total payment
₹62,48,327

Repayment schedule

Tap a year to see its months.

YearPrincipalInterestBalance
59,7072,52,70929,40,293
64,9842,47,43228,75,309
70,7282,41,68828,04,580
76,9802,35,43627,27,600
83,7852,28,63226,43,815
91,1902,21,22625,52,625
99,2512,13,16624,53,374
1,08,0242,04,39323,45,351
1,17,5721,94,84422,27,779
1,27,9641,84,45220,99,815
1,39,2751,73,14119,60,540
1,51,5861,60,83118,08,954
1,64,9851,47,43216,43,969
1,79,5681,32,84914,64,402
1,95,4401,16,97712,68,962
2,12,71599,70110,56,247
2,31,51780,8998,24,730
2,51,98160,4355,72,749
2,74,25438,1632,98,495
2,98,49513,9210

How it is calculated

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

P is the loan amount, r is the monthly rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. For ₹10,00,000 at 10% for 20 years: r = 0.10 ÷ 12 = 0.008333, n = 240, so the EMI is ₹9,650.

Each month the interest is the balance × r. The EMI pays that interest first and the rest lowers the balance. A prepayment comes straight off the balance, and the EMI stays the same, so the loan ends sooner.

How to work out a loan EMI

  1. Enter the loan

    Pick the loan type for a typical rate, then set the amount, interest rate and tenure in years or months. Type in the boxes or drag the sliders.

  2. Read the EMI

    The monthly EMI, total interest and total payment update as you type, with a chart of principal against interest.

  3. Plan prepayments

    Add a one-time or yearly prepayment to see how many months sooner the loan ends and how much interest you save. Download the schedule as CSV or print it.

Good to know

  • A longer tenure lowers the EMI but raises the total interest a lot. Compare 15 and 20 years on the same amount to see it.
  • Loan type only fills in a typical rate. Use the rate on your own sanction letter for a true figure.
  • Every input is saved in the page link, so Copy link shares the exact calculation with family.
  • Ctrl+C with nothing selected copies the summary.
  • The schedule CSV opens in any spreadsheet. Print gives a clean page for your files.

Questions people ask

What is an EMI?

An Equated Monthly Instalment is the fixed amount you pay the lender every month. Each EMI pays that month's interest first and the rest goes to reduce the loan, so early EMIs are mostly interest and later ones mostly principal.

Does prepaying a loan really help?

Yes. A prepayment goes straight to the principal, so less interest is charged every month after it. With the EMI kept the same, the loan ends sooner. The earlier you prepay, the more interest you save.

Should I reduce the EMI or the tenure after a prepayment?

Keeping the EMI and cutting the tenure saves the most interest, which is what this calculator shows. Lowering the EMI instead gives more room in the monthly budget but saves less in total.

Is a floating rate loan shown correctly?

The calculator assumes one rate for the whole loan. When a floating rate changes, enter the new rate with the balance and the months left to see the new EMI.

Why is my bank's EMI slightly different?

Banks may round the EMI up to the next rupee, count interest by days, or add fees and insurance to the loan. The difference is usually a few rupees.

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