🧮 EMI Calculator
EMI Calculator for Home Loan, Car Loan & Personal Loan
Your Monthly EMI
₹44,986
for 240 months
- Total Interest
- ₹57,96,711
- Total Payment
- ₹1,07,96,711
- Principal + Interest
Break-up of Total Payment
Download or share this calculation
The shared link opens with all your numbers pre-filled — handy for comparing offers with family or your bank.
Principal vs Interest Paid Each Year
EMI payments starting from …
EMI Payment Schedule
Tap a year to see its month-by-month breakdown.
| Year | Principal (A) | Interest (B) | Total Payment (A + B) | Balance | Loan Paid To Date |
|---|
What If the Interest Rate Changes?
Floating-rate loans move with RBI policy. See how your EMI shifts if the rate falls or rises by up to 2%.
7%
₹38,765
−₹6,221 / month
Interest: ₹43,03,587
8%
₹41,822
−₹3,164 / month
Interest: ₹50,37,281
9% · current
₹44,986
per month
Interest: ₹57,96,711
10%
₹48,251
+₹3,265 / month
Interest: ₹65,80,260
11%
₹51,609
+₹6,623 / month
Interest: ₹73,86,261
What is EMI?
An Equated Monthly Instalment (EMI) is the fixed amount you pay your lender every month until your loan is fully repaid. Each EMI has two parts: interest on the balance still outstanding, and a portion that reduces the principal. Because interest is charged on the outstanding balance, it takes up most of the EMI in the early months. As the balance falls, the interest part shrinks and more of each EMI goes towards the principal — even though the EMI itself never changes.
Work out your monthly instalment in seconds. Move the sliders or type your loan amount, interest rate and tenure — the EMI, total interest, payment break-up chart and full year-wise schedule update instantly. Download the schedule as PDF or Excel, or share a link with your numbers pre-filled.
EMI Formula
E = P × r × (1 + r)n ÷ [(1 + r)n − 1]
- E — EMI (monthly instalment)
- P — principal loan amount
- r — monthly interest rate = annual rate ÷ 12 ÷ 100 (10.5% p.a. → 0.00875)
- n — loan tenure in months
Example: borrow ₹10,00,000 at 10.5% a year for 10 years (120 months). EMI = 10,00,000 × 0.00875 × (1.00875)120 ÷ [(1.00875)120 − 1] = ₹13,493. Over 120 months you pay ₹16,19,220 in total, of which ₹6,19,220 is interest. Doing this by hand for every combination of amount, rate and tenure is slow and error-prone — the calculator above does it instantly and also builds the full repayment schedule.
How to Use This EMI Calculator
- 1Choose the loan type — Home, Personal or Car.
- 2Set the loan amount, annual interest rate and tenure with the sliders, or type exact values in the boxes. Switch tenure between years (Yr) and months (Mo).
- 3For car loans, pick EMI in arrears or EMI in advance.
- 4Read your monthly EMI, total interest and total payment, plus the principal-vs-interest break-up chart.
- 5Set the month of your first EMI and choose calendar-year or financial-year view to see the payment schedule. Tap any year to expand it month by month.
- 6Download the schedule as PDF or Excel, or share a link with all your numbers pre-filled.
Planning for Floating Rates
You decide the loan amount and tenure, but on a floating-rate loan the interest rate moves with RBI policy and your lender's benchmark. Before you commit, check two scenarios:
- Rates fall 1–3%: your EMI drops, or you can keep the same EMI and close the loan sooner.
- Rates rise 1–3%: could you still pay comfortably? On a long home loan, even a 2% rise noticeably increases the EMI for the rest of the tenure.
The “What If the Interest Rate Changes?” panel above shows both cases for your numbers. Plan for the worst case and treat the best case as a bonus.
Frequently Asked Questions
What is an EMI?＋
EMI stands for Equated Monthly Instalment — the fixed amount you pay your bank or NBFC every month until a loan is fully repaid. Each EMI covers that month's interest plus a slice of the principal. The EMI stays the same, but the split changes: early EMIs are mostly interest, later EMIs are mostly principal.
How is EMI calculated?＋
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 ÷ 100) and n is the tenure in months. For ₹10,00,000 at 10.5% for 10 years, r = 0.00875 and n = 120, which gives an EMI of ₹13,493.
Can I share or save my EMI calculation?＋
Yes. Use the Share link button to copy or send a link that opens this calculator with your loan amount, rate, tenure and start month already filled in. You can also download the complete schedule as a PDF or an Excel workbook with summary, yearly and monthly sheets.
Is this EMI calculator accurate for my bank?＋
It uses the standard reducing-balance formula used by Indian banks and NBFCs, so the EMI should match your lender's quote to within a rupee or two. Your actual payments can differ if the lender adds processing fees, insurance, broken-period interest or changes a floating rate during the tenure.
What is the difference between calendar year and financial year schedules?＋
A calendar-year schedule groups payments from January to December. A financial-year schedule groups them from April to March — useful when you claim home loan tax deductions, since your interest and principal certificates from the bank follow the financial year.
More Calculators
Figures are indicative and calculated using the standard reducing-balance method. Your lender's actual EMI, fees and schedule may differ. This page is for information only and is not financial advice.