HomeLoans & EMI
EMI calculator
Monthly instalment, total interest and a year-by-year repayment table for any loan.
Quick answer
Enter the loan amount, the yearly interest rate and the tenure to see the monthly EMI. A ₹10,00,000 loan at 9% for 20 years has an EMI of about ₹8,997.
Read the guide: How EMI is calculated, with a worked example
Monthly EMI
₹8,997
- Total interest
- ₹11,59,342
- Total payment
- ₹21,59,342
- Interest share of what you pay
- 53.7%
- Principal
- Interest
Year-by-year table
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹1,07,967 | ₹18,727 | ₹89,240 | ₹9,81,273 |
| 2 | ₹1,07,967 | ₹20,484 | ₹87,483 | ₹9,60,789 |
| 3 | ₹1,07,967 | ₹22,405 | ₹85,562 | ₹9,38,384 |
| 4 | ₹1,07,967 | ₹24,507 | ₹83,460 | ₹9,13,877 |
| 5 | ₹1,07,967 | ₹26,806 | ₹81,161 | ₹8,87,070 |
| 6 | ₹1,07,967 | ₹29,321 | ₹78,646 | ₹8,57,750 |
| 7 | ₹1,07,967 | ₹32,071 | ₹75,896 | ₹8,25,679 |
| 8 | ₹1,07,967 | ₹35,080 | ₹72,887 | ₹7,90,599 |
| 9 | ₹1,07,967 | ₹38,370 | ₹69,597 | ₹7,52,229 |
| 10 | ₹1,07,967 | ₹41,970 | ₹65,997 | ₹7,10,259 |
| 11 | ₹1,07,967 | ₹45,907 | ₹62,060 | ₹6,64,352 |
| 12 | ₹1,07,967 | ₹50,213 | ₹57,754 | ₹6,14,139 |
| 13 | ₹1,07,967 | ₹54,924 | ₹53,044 | ₹5,59,215 |
| 14 | ₹1,07,967 | ₹60,076 | ₹47,891 | ₹4,99,140 |
| 15 | ₹1,07,967 | ₹65,711 | ₹42,256 | ₹4,33,428 |
| 16 | ₹1,07,967 | ₹71,875 | ₹36,092 | ₹3,61,553 |
| 17 | ₹1,07,967 | ₹78,618 | ₹29,349 | ₹2,82,935 |
| 18 | ₹1,07,967 | ₹85,993 | ₹21,974 | ₹1,96,942 |
| 19 | ₹1,07,967 | ₹94,059 | ₹13,908 | ₹1,02,883 |
| 20 | ₹1,07,967 | ₹1,02,883 | ₹5,084 | ₹0 |
How it works
A loan is repaid in equal monthly instalments (EMIs). Each EMI has two parts: the interest on the balance still owed, and a slice of the principal.
In the first months most of the EMI is interest. As the balance falls, the interest part shrinks and more of each EMI repays principal. The yearly table below shows this shift.
The calculator uses the standard reducing-balance method that banks use. Your lender may add processing fees or round differently, so the bank schedule can differ by a few rupees.
The formula
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- P = loan amount, r = interest rate per year ÷ 12 ÷ 100, n = number of monthly instalments
A worked example
A loan of ₹10,00,000 at 9% a year for 20 years: r = 9 ÷ 12 ÷ 100 = 0.0075 and n = 240, so EMI = ₹8,997 a month. Over 240 months you pay ₹21,59,342, of which ₹11,59,342 is interest.
Common questions
What does EMI stand for?
Equated Monthly Instalment: the fixed amount you pay your lender every month until the loan is cleared.
Does a longer tenure lower the EMI?
Yes, but you pay far more interest overall. Stretching the example loan from 15 to 25 years lowers the EMI and raises the total interest by lakhs.
Is the interest rate fixed or floating?
The calculator assumes one rate for the whole loan. On a floating-rate loan the EMI or the tenure changes when the rate changes, so treat the result as an estimate.
Are processing fees included?
No. Fees, insurance and taxes charged by the lender are extra and not part of this calculation.
How is interest charged each month?
Each month the interest is the outstanding balance times the yearly rate divided by 12. That is why paying principal early saves interest.