EMI Calculator

Estimate monthly EMI from loan amount, rate, and tenure

Loan Details

Monthly EMI

₹0

Principal Amount:₹10,00,000
Total Interest:₹0
Total Payment:₹0

Loan Summary

Loan Amount₹10,00,000
Interest Rate8.5% p.a.
Loan Tenure240 months (20 years)
Total Interest Payable₹0
Total Amount Payable₹0

Payment Breakdown

Principal AmountInfinity%
Total Interest0.0%

0.0%

Interest on Principal

₹0

Monthly EMI

Year-by-year breakdown

YearTotal EMI PaidPrincipal PaidInterest PaidOutstanding Balance
Year 1₹0-₹88,391₹88,391₹10,88,391
Year 2₹0-₹96,204₹96,204₹11,84,595
Year 3₹0-₹1,04,707₹1,04,707₹12,89,302
Year 4₹0-₹1,13,963₹1,13,963₹14,03,265
Year 5₹0-₹1,24,036₹1,24,036₹15,27,301
Year 6₹0-₹1,34,999₹1,34,999₹16,62,300
Year 7₹0-₹1,46,932₹1,46,932₹18,09,232
Year 8₹0-₹1,59,920₹1,59,920₹19,69,152
Year 9₹0-₹1,74,055₹1,74,055₹21,43,207
Year 10₹0-₹1,89,440₹1,89,440₹23,32,647
Year 11₹0-₹2,06,185₹2,06,185₹25,38,832
Year 12₹0-₹2,24,410₹2,24,410₹27,63,242
Year 13₹0-₹2,44,245₹2,44,245₹30,07,487
Year 14₹0-₹2,65,834₹2,65,834₹32,73,321
Year 15₹0-₹2,89,332₹2,89,332₹35,62,653
Year 16₹0-₹3,14,906₹3,14,906₹38,77,559
Year 17₹0-₹3,42,741₹3,42,741₹42,20,300
Year 18₹0-₹3,73,036₹3,73,036₹45,93,337
Year 19₹0-₹4,06,009₹4,06,009₹49,99,346
Year 20₹0-₹4,41,897₹4,41,897₹54,41,243

Interest share is higher in early years; principal share grows over time.

Prepayment impact

One-time prepayment after 12 months, EMI reduced to keep the same tenure.

Prepayment AmountNew EMITotal PaymentInterest Savings
₹50,000₹9,194₹21,46,320-₹21,46,320
₹1,00,000₹8,752₹20,95,379-₹20,95,379
₹2,00,000₹7,866₹19,93,498-₹19,93,498
₹5,00,000₹5,210₹16,87,853-₹16,87,853

Actual savings depend on your lender's prepayment terms.

Tenure comparison

Loan TenureMonthly EMITotal InterestTotal Payment
5 years₹20,517₹2,30,992₹12,30,992
10 years₹12,399₹4,87,828₹14,87,828
15 years₹9,847₹7,72,531₹17,72,531
20 years₹8,678₹10,82,776₹20,82,776
25 years₹8,052₹14,15,681₹24,15,681
30 years₹7,689₹17,68,089₹27,68,089

Interest rate comparison

Interest RateMonthly EMITotal InterestEMI Difference
7% p.a.₹7,753₹8,60,717+₹7,753
7.5% p.a.₹8,056₹9,33,424+₹8,056
8% p.a.₹8,364₹10,07,456+₹8,364
8.5% p.a.₹8,678₹10,82,776+₹8,678
9% p.a.₹8,997₹11,59,342+₹8,997
9.5% p.a.₹9,321₹12,37,115+₹9,321
10% p.a.₹9,650₹13,16,052+₹9,650
10.5% p.a.₹9,984₹13,96,112+₹9,984
11% p.a.₹10,322₹14,77,252+₹10,322

Current rate highlighted.

About EMI

What is EMI?

EMI (Equated Monthly Installment) is a fixed monthly payment that repays a loan over a set tenure. Each payment covers both principal and interest. Early payments are mostly interest; the principal share grows over time.

How this calculator works

It uses the standard reducing-balance formula on the loan amount, annual rate, and tenure you enter. Processing fees, insurance, and lender-specific charges are not included — treat the output as an estimate.

EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1]

Example: ₹10,00,000 at 8.5% for 20 years → EMI about ₹8,678, total interest about ₹10,82,720.

Choosing tenure and rate

  • • Shorter tenure → higher EMI but less total interest
  • • Longer tenure → lower EMI but more interest over the loan life
  • • Even a 0.25–0.5% rate difference adds up on large, long-term loans
  • • Keep EMI within roughly 40–50% of take-home income after other expenses

Prepayment

  • • Prepaying early saves more because interest is front-loaded
  • • Lenders usually let you reduce EMI or shorten tenure after prepayment
  • • Fixed-rate loans may carry a prepayment penalty — check your loan agreement

Tax benefits (home loan)

  • • Section 80C: principal repayment up to ₹1.5 lakh/year (within overall 80C limit)
  • • Section 24(b): interest up to ₹2 lakh/year on self-occupied property
  • • Education loan interest is deductible under Section 80E for up to 8 years

Before you apply

Compare offers from multiple lenders — processing fees and effective rates differ. Read the prepayment and foreclosure clauses. Set up auto-debit and keep enough balance each month; a missed EMI hurts your credit score.

Disclaimer: Figures are estimates. Confirm EMI, charges, and terms with your lender before signing.

Questions & answers

How is EMI calculated?
Standard reducing-balance formula: EMI = [P × r × (1+r)^n] / [(1+r)^n − 1], where r is the monthly rate and n is months. Processing fee, insurance, and other lender charges are not in the EMI figure. ₹10 lakh at 8.5% for 20 years works out to about ₹8,678/month.
Why is early EMI mostly interest?
Interest is charged on the outstanding balance each month. At the start the balance is high, so the interest portion of the EMI is large. As principal is paid down, more of each EMI goes to principal.
Does a longer tenure always help?
Longer tenure lowers the monthly EMI but raises total interest paid over the loan. A 0.25–0.5% rate change also moves the total cost noticeably on large long-term loans.

Related calculators

Other tools in the same category on QList.

View all calculators →