EMI Calculator
Find the equated monthly instalment (EMI) for a home, car, or personal loan, and see how each year's payments split between interest and principal.
Your numbers
Year-by-year repayment
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | ₹18,727 | ₹89,240 | ₹9,81,273 |
| Year 2 | ₹20,484 | ₹87,483 | ₹9,60,789 |
| Year 3 | ₹22,405 | ₹85,562 | ₹9,38,384 |
| Year 4 | ₹24,507 | ₹83,460 | ₹9,13,877 |
| Year 5 | ₹26,806 | ₹81,161 | ₹8,87,070 |
| Year 6 | ₹29,321 | ₹78,646 | ₹8,57,750 |
| Year 7 | ₹32,071 | ₹75,896 | ₹8,25,679 |
| Year 8 | ₹35,080 | ₹72,887 | ₹7,90,599 |
| Year 9 | ₹38,370 | ₹69,597 | ₹7,52,229 |
| Year 10 | ₹41,970 | ₹65,997 | ₹7,10,259 |
| Year 11 | ₹45,907 | ₹62,060 | ₹6,64,352 |
| Year 12 | ₹50,213 | ₹57,754 | ₹6,14,139 |
| Year 13 | ₹54,924 | ₹53,044 | ₹5,59,215 |
| Year 14 | ₹60,076 | ₹47,891 | ₹4,99,140 |
| Year 15 | ₹65,711 | ₹42,256 | ₹4,33,428 |
| Year 16 | ₹71,875 | ₹36,092 | ₹3,61,553 |
| Year 17 | ₹78,618 | ₹29,349 | ₹2,82,935 |
| Year 18 | ₹85,993 | ₹21,974 | ₹1,96,942 |
| Year 19 | ₹94,059 | ₹13,908 | ₹1,02,883 |
| Year 20 | ₹1,02,883 | ₹5,084 | ₹0 |
What this calculator shows
An EMI is the fixed amount you pay every month so that the loan, with interest, is fully repaid by the end of the tenure. The calculator shows that monthly figure, the total interest you would pay over the life of the loan, and a yearly table of principal repaid, interest paid, and the balance still owed.
The formula, in plain words
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. Each month, interest is charged on the balance, and whatever is left of the EMI reduces the principal.
A worked example
A ₹10 lakh loan at 9% for 20 years has an EMI of about ₹8,997. Over 240 payments you would pay about ₹21.6 lakh in total — roughly ₹11.6 lakh of it interest, more than the amount borrowed. In the first year, only about ₹18,700 of the roughly ₹1.08 lakh you pay goes towards principal. Cut the tenure to 15 years and the EMI rises to about ₹10,143, but total interest falls to roughly ₹8.3 lakh.
Assumptions and limits
- The interest rate stays the same. Floating-rate loans change with the lender's benchmark rate.
- No prepayments, fees, or insurance premiums are included.
- Lenders may round or calculate slightly differently, so their figure can differ by a few rupees.
Frequently asked questions
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay principal, the interest part shrinks and more of the same EMI goes towards principal.
Does a shorter tenure save money?
Usually a lot. A shorter tenure means a higher EMI but far less total interest, because the balance is paid down faster.
Does this include processing fees or insurance?
No. It calculates the EMI on the loan amount and rate only. Fees, insurance, and floating-rate changes are not included.
These figures are estimates for learning and planning, not investment, tax, or legal advice. Returns on market-linked investments are not guaranteed, and real outcomes depend on fees, taxes, timing, and actual returns. See our disclaimer.