Calculate your monthly EMI for any home, car, or personal loan. Enter the loan amount, interest rate, and tenure to instantly see your repayment breakdown including total interest payable.
Try:
₹
%
Monthly EMI—
Loan amount (principal)—
Total interest payable—
Total payment—
PrincipalInterest
Tap yr / mo to switch tenure unit. Formula: EMI = P·r·(1+r)^n / ((1+r)^n − 1) where r = monthly rate.
Amortization Schedule
Month-by-month breakdown of principal, interest, and remaining balance.
Enter loan details above to see the schedule.
How to use
Enter the loan amount you wish to borrow in the Loan Amount field.
Set the Annual Interest Rate offered by your bank or lender.
Enter the repayment tenure in years (or tap yr to switch to months).
Your monthly EMI, total interest, and total payment are calculated instantly.
The bar shows the split between principal and interest portions of your total payment.
Use the preset buttons to quickly try common loan scenarios.
Frequently Asked Questions
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly rate (annual rate ÷ 1200), and n is the number of months.
What is the EMI on a ₹50 lakh home loan at 8.5% for 20 years?
Approximately ₹43,391 per month. Total interest paid over 20 years would be around ₹54.1 lakh — more than the principal itself.
Does a shorter tenure reduce total interest?
Yes. A 10-year loan typically costs about half the total interest of a 20-year loan for the same amount, though the monthly EMI is higher.
Can I enter tenure in months instead of years?
Yes — tap the yr/mo toggle next to the tenure field. The value is automatically converted so calculations remain accurate.
How does a 0.5% rate change affect my EMI?
On a ₹50 lakh loan for 20 years, a 0.5% higher rate increases monthly EMI by around ₹1,700 and adds over ₹4 lakh to total interest.
Did you know?
In the early years of a loan, the majority of each EMI goes toward interest. This is why prepaying early has an outsized impact on total cost.
India's home loan market crossed ₹27 lakh crore in outstanding balances in 2024, making it the country's largest retail credit segment.
The EMI formula was popularised by French mathematician Amédée Boudeville in the 19th century and is now the global standard for installment lending.