Loan Calculators
EMI Calculator
Work out your monthly loan instalment, and see exactly how much of your total repayment goes toward principal versus interest.
Your loan details
Monthly EMI
₹0Over 20 years
Total Interest
₹0Total Payment
₹0Principal vs. interest
How your total repayment splits between the amount borrowed and the interest paid
How the EMI calculator works
An EMI (Equated Monthly Installment) is the fixed amount you pay each month toward a loan until it's fully repaid. Every EMI is a mix of principal (what you borrowed) and interest (the cost of borrowing) — early in the loan, a larger share goes to interest, and that shifts toward principal as the balance shrinks.
The formula
EMI is calculated as P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is the loan principal, r is the monthly interest rate, and n is the number of monthly instalments. This calculator applies that formula and then simulates the full amortization schedule to work out the total interest paid over the loan's life.
Ways to reduce total interest
- Choose a shorter tenure if the higher EMI is affordable
- Make partial prepayments whenever you have surplus funds
- Compare rates across lenders before finalizing the loan
- Consider a shorter fixed-rate period if rates are expected to fall
Frequently asked questions
EMI is calculated using the loan amount, interest rate, and tenure, applying a standard amortization formula. This calculator uses the reducing-balance method, where interest is charged only on the outstanding principal each month.
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