Loan EMI Calculator
Enter your loan amount, interest rate, and repayment period to calculate your monthly EMI, total interest payable, and total repayment amount.
Check monthly EMI and total interest
Enter loan amount, interest and tenure. The monthly EMI stays visible while you adjust the numbers.
Monthly EMI
₹12,398.57
₹10,00,000 loan at 8.5% for 120 months.
Loan amount
₹10,00,000
Principal entered.
Total interest
₹4,87,828.27
Estimated interest.
Total payment
₹14,87,828.27
Principal plus interest.
Interest saved
₹0
Add extra payment to estimate savings.
More EMI details
Loan closes in
120 months
10 years and 0 months.
Processing fee
₹0
0% of loan amount.
Total with fee
₹14,87,828.27
Payment plus optional fee.
Interest share
32.79%
Interest share of payment.
EMI = [P × R × (1+R)^N] ÷ [(1+R)^N - 1]
Yearly payment breakdown
| Year | Principal | Interest | Payment | Balance |
|---|---|---|---|---|
| 1 | ₹66,327.32 | ₹82,455.51 | ₹1,48,782.83 | ₹9,33,672.68 |
| 2 | ₹72,190.05 | ₹76,592.78 | ₹1,48,782.83 | ₹8,61,482.64 |
| 3 | ₹78,570.99 | ₹70,211.84 | ₹1,48,782.83 | ₹7,82,911.65 |
| 4 | ₹85,515.95 | ₹63,266.87 | ₹1,48,782.83 | ₹6,97,395.69 |
| 5 | ₹93,074.78 | ₹55,708.04 | ₹1,48,782.83 | ₹6,04,320.91 |
| 6 | ₹1,01,301.75 | ₹47,481.08 | ₹1,48,782.83 | ₹5,03,019.16 |
| 7 | ₹1,10,255.9 | ₹38,526.92 | ₹1,48,782.83 | ₹3,92,763.26 |
| 8 | ₹1,20,001.52 | ₹28,781.31 | ₹1,48,782.83 | ₹2,72,761.74 |
| 9 | ₹1,30,608.56 | ₹18,174.26 | ₹1,48,782.83 | ₹1,42,153.17 |
| 10 | ₹1,42,153.17 | ₹6,629.65 | ₹1,48,782.83 | ₹0 |
What this tool does
This calculator uses the standard EMI formula to show your monthly instalment for any loan. Enter the principal amount, the annual interest rate, and the loan tenure in months or years. The result shows your EMI, total repayment, and total interest cost.
When to use it
Use this before taking a home loan, car loan, personal loan, or business loan to understand your monthly commitment. Compare different loan amounts and tenures to find the repayment plan that fits your budget.
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay to a lender every month to repay a loan. Each EMI covers both the principal repayment and the interest for that month.
How is EMI calculated?
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly instalments.
Does a higher down payment reduce EMI?
Yes. A higher down payment reduces the loan principal (P), which directly reduces your monthly EMI and the total interest paid over the loan tenure.
Can I use this for home, car, and personal loans?
Yes. The EMI formula is the same for all loan types. Enter the loan amount, interest rate, and tenure for any loan — home, car, personal, education, or business.
What is the total interest payable?
Total interest = (EMI × number of months) − loan principal. This calculator shows you the total amount paid and the interest component so you can compare loan offers effectively.