EMI Calculator
Monthly EMI, interest and schedule.
Runs in your browser. Nothing is uploaded.
Year-by-year repayment schedule
| Year | Principal | Interest | Balance |
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How to use EMI Calculator
- 1Enter the loan amount, or drag the slider.
- 2Enter the yearly interest rate your bank quoted.
- 3Set the tenure in years or months.
- 4Read your monthly EMI, total interest and the year-by-year schedule.
Plan your loan before you sign
Whether it’s a home loan, car loan, education loan or personal loan, the EMI decides how comfortable the next few years will be. Change the amount, rate and tenure to see instantly how each one affects your monthly payment and the total interest you’ll pay over the life of the loan.
A common rule of thumb is to keep all EMIs together under about 40% of your monthly take-home pay. This calculator shows estimates only; your bank’s figures may differ slightly because of fees and rounding.
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 monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Does this include processing fees or insurance?
No. It shows the EMI on the loan amount and rate you enter. Banks may add processing fees, insurance or GST on charges, so check the sanction letter.
How can I reduce my EMI?
Choose a longer tenure, negotiate a lower rate, or pay a bigger down payment. A longer tenure lowers the EMI but increases the total interest you pay.
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay, the interest part shrinks and the principal part grows.