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EMI Calculator

Know your exact monthly EMI and — more importantly — how much interest the loan really costs you over its life.

Enter your details

₹
%
yrs
Monthly EMI
—
Principal (loan amount)—
Total interest payable—
Total amount payable—

Illustrative projection using the assumptions you entered. Market returns are not guaranteed; actual results will differ. This is an educational tool, not financial advice.

Outstanding balance, year by year

Invested vs Returns

Principal Total interest

How it works

An Equated Monthly Instalment (EMI) blends principal and interest into one fixed monthly payment. In the early years, most of your EMI is interest; the principal share grows slowly as the outstanding balance falls — which is why the balance curve above bends downwards only gradually at first.

EMI = P × i × (1+i)n ÷ [(1+i)n − 1]

Here P is the loan amount, i is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. The donut chart delivers the uncomfortable truth of long loans: at 8.5% over 20 years, total interest can exceed the amount you borrowed. Shortening the tenure raises the EMI but cuts total interest sharply.

Before taking a loan, test three tenures here and look at total interest, not just the EMI. A common affordability guardrail: keep all EMIs together below roughly 40% of your monthly take-home pay.

Frequently asked questions

A large one. A ₹50 lakh loan at 8.5% costs about ₹54 lakh in interest over 20 years, but only about ₹24 lakh over 10 years — even though the EMI rises. Use the tenure slider to see the trade-off on your own numbers.
Prepaying earns you a guaranteed return equal to the loan's interest rate. Investing may earn more but with risk and no guarantee. Many people split the difference — and always clear high-interest debt (credit cards, personal loans) before investing.
With a fixed-rate loan, yes. Most Indian home loans are floating-rate, so the EMI (or tenure) changes when the bank's benchmark rate changes. This calculator assumes a constant rate.

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