EMI Calculator
Calculate your monthly loan EMI with a full amortization schedule and prepayment modeling.
₹
60 months (5.0 years)
6 months30 years
₹10,258.27
Monthly EMI
₹6,15,495.94
Total Payment
₹1,15,495.94
Total Interest
- Principal
- Interest
Model a one-time prepayment
About EMI Calculator
The EMI (Equated Monthly Instalment) Calculator helps you plan your loan repayments accurately using the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months. For example, a ₹5,00,000 loan at 8.5% annual interest over 60 months (5 years) works out to a monthly EMI of ₹10,258.27, a total payment of ₹6,15,495.94, and total interest of ₹1,15,495.94 — meaning you'd pay back roughly 23% more than you borrowed over the life of the loan. Enter your own loan amount, annual interest rate, and tenure to see the same breakdown instantly, plus a visual pie chart of principal versus interest. Expand the amortization schedule to see exactly how much of each monthly payment goes to principal versus interest, and how your outstanding balance shrinks over time — early payments are mostly interest, later ones are mostly principal, since interest is charged on whatever balance remains. You can also model a one-time prepayment — a lump sum paid in a specific month — and choose whether it should shorten your loan tenure or lower your monthly EMI, to see exactly how much interest it saves. This tool supports all types of loans: home loans, car loans, personal loans, education loans, and business loans.
Frequently Asked Questions
EMI (Equated Monthly Instalment) is a fixed payment amount made by a borrower to a lender at a specified date each month. EMIs are used to pay off both interest and principal every month.
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is number of months.
Yes, a longer tenure reduces your monthly EMI but increases the total interest paid over the loan period.
Home loan rates in India typically range from 8% to 10% per annum depending on the bank and your credit profile.
Yes, this calculator works for any type of loan — home, car, personal, education, or business loans.
Both apply your lump sum directly to the principal. "Reduce Tenure" keeps your EMI the same and pays off the loan sooner — this saves the most interest. "Reduce EMI" recalculates a lower monthly payment for the remaining months instead, which eases monthly cash flow but saves less interest overall.
Interest is charged on the remaining balance, so as your balance shrinks, less of each fixed EMI goes to interest and more goes to principal — this is normal for any reducing-balance loan.