Calculators
EMI Calculator
Enter the loan amount, interest rate and tenure to see your monthly EMI, the total interest and a full repayment schedule. Add a one-time prepayment to see what it saves.
Monthly EMI
₹21,696
for 20 years (240 EMIs)
- Total interest
- ₹27,06,939
- Total payment
- ₹52,06,939
Prepayment what-if
Assumes the rate stays the same and no prepayment charge. Floating-rate loans to individuals usually have no prepayment charge; fixed-rate loans may. Check your loan agreement.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹49,756 | ₹2,10,591 | ₹24,50,244 |
| 2 | ₹54,154 | ₹2,06,193 | ₹23,96,091 |
| 3 | ₹58,940 | ₹2,01,407 | ₹23,37,150 |
| 4 | ₹64,150 | ₹1,96,197 | ₹22,73,000 |
| 5 | ₹69,820 | ₹1,90,527 | ₹22,03,180 |
| 6 | ₹75,992 | ₹1,84,355 | ₹21,27,188 |
| 7 | ₹82,709 | ₹1,77,638 | ₹20,44,479 |
| 8 | ₹90,020 | ₹1,70,327 | ₹19,54,459 |
| 9 | ₹97,977 | ₹1,62,370 | ₹18,56,482 |
| 10 | ₹1,06,637 | ₹1,53,710 | ₹17,49,846 |
| 11 | ₹1,16,063 | ₹1,44,284 | ₹16,33,783 |
| 12 | ₹1,26,321 | ₹1,34,026 | ₹15,07,462 |
| 13 | ₹1,37,487 | ₹1,22,860 | ₹13,69,974 |
| 14 | ₹1,49,640 | ₹1,10,707 | ₹12,20,335 |
| 15 | ₹1,62,866 | ₹97,480 | ₹10,57,468 |
| 16 | ₹1,77,262 | ₹83,085 | ₹8,80,206 |
| 17 | ₹1,92,931 | ₹67,416 | ₹6,87,275 |
| 18 | ₹2,09,984 | ₹50,363 | ₹4,77,291 |
| 19 | ₹2,28,545 | ₹31,802 | ₹2,48,746 |
| 20 | ₹2,48,746 | ₹11,601 | ₹0 |
Loan years count from the first EMI (months 1–12 are year 1).
Number format
Formula: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), with r = annual rate ÷ 12 ÷ 100 and n = number of monthly instalments. Each month’s interest is the outstanding balance × r.
Your lender’s figures can differ by a few rupees: banks round the EMI, may count interest on actual days, charge broken-period interest before the first EMI, and change floating rates over time. Processing fees, insurance and taxes are not included.
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Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the yearly rate divided by 12 and by 100, and n is the tenure in months. For a ₹20 lakh loan at 7.5% for 10 years, r = 0.00625 and n = 120, so the EMI is about ₹23,740. This is the formula major Indian banks publish with their EMI calculators.
Why is my bank’s EMI a few rupees different?
Banks round the EMI to the rupee, sometimes count interest on the actual number of days in each month, and may charge broken-period interest for the days between disbursal and the first EMI. The rate can also change over the loan on a floating-rate loan. The calculator uses the standard formula with no rounding, so small differences are normal.
Is it better to prepay to reduce tenure or to reduce EMI?
At the same rate, reducing the tenure saves more interest, because you keep paying the larger EMI and the balance falls faster. Reducing the EMI lowers your monthly outgo instead. Try both in the prepayment section to see the difference in rupees for your loan; which suits you depends on your cash flow, not only on the interest saved.
Why is so much of the early EMI interest?
Each month’s interest is charged on the outstanding balance, which is highest at the start. In the first years most of the EMI goes to interest, and the principal share grows every month as the balance falls. The yearly schedule shows this shift clearly.
What does a 0% interest rate give?
With no interest, the EMI is simply the loan amount divided by the number of months, for example ₹1,20,000 over 12 months is ₹10,000 a month. Many “no-cost EMI” offers work this way on paper, though a processing fee or a discount you give up can make them cost something.
Does the calculator include fees, insurance or GST?
No. It covers principal and interest only. Processing fees, loan insurance premiums, GST on fees and any prepayment charges are not included; check them in your loan offer.
About this tool
This EMI calculator works out the equated monthly instalment for a home loan, car loan, personal loan or any loan repaid in equal monthly amounts. Enter the loan amount, the yearly interest rate and the tenure in years or months, and it shows the EMI, the total interest, the total amount repaid and how that total splits between principal and interest. Amounts are shown in lakh and crore by default, with an option for international grouping.
The EMI uses the standard reducing-balance formula EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 ÷ 100. It matches the worked examples published by major Indian banks, checked on 24 September 2026: ICICI Bank (₹10 lakh at 7.25% for 120 months, about ₹11,740), Axis Bank (₹20 lakh at 7.5% for 10 years, ₹23,740) and Kotak Mahindra Bank (₹50 lakh at 7.6% for 20 years, about ₹40,585).
The amortization schedule lists every month or every loan year, with the principal and interest paid and the balance left. Each month’s interest is the outstanding balance × r, and the last instalment is trimmed so the balance ends at exactly zero. Download CSV saves the monthly or yearly view as a spreadsheet file.
The prepayment what-if applies a one-time lump sum after a chosen EMI and recalculates the loan, either keeping the EMI and shortening the tenure, or keeping the end date and lowering the EMI. It assumes the interest rate stays the same and no prepayment charge applies. Your lender’s schedule can differ slightly because of rounding, day counts and broken-period interest. Everything is calculated in your browser.