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⚡ Finance · India Standard

EMI Calculator

Calculate your monthly loan payment, total interest, and total repayment for home, car, or personal loans.

Loan Details

INDIA (INR)
₹10,00,000
₹
₹50,000 ₹1 Crore
8.5%
%
4% 20%
20 Yrs
Years
1 Year 30 Years

Repayment Summary

Instant Math
Monthly Loan EMI
₹8,678
per month for 240 months (20 yrs)
Principal Loan Amount ₹10,00,000
Total Interest Payable ₹10,82,776
Total Amount (Principal + Interest) ₹20,82,776
Principal: 48%
Interest: 52%

Yearly Loan Amortization Schedule

See how each year's payments reduce your principal balance over time.

Period Opening Balance Principal Paid Interest Paid Total Payment Closing Balance

What is an Equated Monthly Instalment (EMI)?

An Equated Monthly Instalment (EMI) is a fixed monthly payment made by a borrower to a bank or non-banking financial company (NBFC) on a specified date each calendar month. EMIs are applied to both the principal loan amount and accrued interest, ensuring the loan is completely paid off by the end of its tenure.

How is Loan EMI Calculated?

In India, home, car, and personal loans use the standard reducing-balance method. The mathematical formula is:

EMI = [P × r × (1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
P = Principal loan amount borrowed (e.g. ₹10,00,000)
r = Monthly interest rate (Annual Interest Rate ÷ 12 ÷ 100)
n = Total loan tenure in months (Number of years × 12)

Real-Life EMI Calculation Example

Example: ₹10,00,000 Home Loan at 8.5% for 20 Years

If you borrow ₹10,00,000 at an annual interest rate of 8.5% for a tenure of 20 years (240 months):

  • Monthly interest rate r = 8.5 ÷ 12 ÷ 100 = 0.0070833
  • Calculated monthly EMI = ₹8,678
  • Total repayment over 20 years = ₹20,82,776
  • Total interest payable = ₹10,82,776 (52% of total payment)
Financial Disclaimer: This calculator provides mathematical estimates for educational and planning purposes. Actual loan EMI, interest rates, processing fees, and amortization schedules may vary depending on your bank, credit score, and lending contract terms.

How to Use This EMI Calculator

1
Enter Loan Amount: Type your target borrowing amount in rupees or adjust the slider.
2
Specify Interest Rate: Enter the annual rate quoted by your bank or lender.
3
Select Tenure: Choose duration in either years or months.
4
Review Instant Breakdown: View monthly installment, total interest, and amortization schedule.

Frequently Asked Questions

EMI stands for Equated Monthly Instalment. It is a fixed monthly repayment amount given to a bank or lender that covers both loan principal and accrued interest.
Yes. A higher interest rate directly increases the monthly interest component, raising both your monthly EMI and the total interest paid over the life of the loan.
Yes. Extending your tenure spreads payments over more months, lowering your monthly EMI. However, it increases the total interest paid to the bank over time.
Yes. This calculator applies to all standard reducing-balance retail loans in India, including Home Loans, Car Loans, Education Loans, and Personal Loans.
Yes, 100% free with unlimited calculations. No sign-up, personal details, or app downloads are ever needed.
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