EMI calculator
Find the monthly EMI for a home, car or personal loan, and see how much of the total goes to interest. Move the sliders to compare tenures and rates.
₹21,696
| Principal | ₹25,00,000 |
| Total interest | ₹27,06,939 |
| Total payment | ₹52,06,939 |
How to use it
Set the loan amount, the annual interest rate and the tenure in years.
Read the EMI, total interest and total payment. The bar shows principal versus interest.
Try a shorter tenure: the EMI rises but the interest falls sharply.
How EMI is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months. Banks use the same formula; small differences come from processing fees and rounding.
Tenure versus interest
A ₹25 lakh home loan at 8.5% costs about ₹21,700 a month over 20 years and ₹3,100 more a month over 15 years, but the shorter loan saves roughly ₹10 lakh in interest. Prepaying even one extra EMI a year has a similar effect.
Floating versus fixed
Most Indian home loans are floating, linked to the repo rate. When rates move, banks usually change the tenure rather than the EMI unless you ask. Check which you have.
Common questions
Is this EMI calculator accurate?
It uses the standard reducing-balance formula every bank uses. Processing fees, insurance and GST on fees are extra.
Can I use it for a car or personal loan?
Yes. Only the amounts and rates differ.
Does prepayment reduce EMI or tenure?
Your choice, at most banks. Reducing tenure saves more interest.
Why is the first EMI mostly interest?
Interest is charged on the outstanding balance, which is highest at the start.
Need the full version?
Real-estate agents and finance advisers: we put a calculator like this on your own website, with a lead form, so visitors run the numbers and then message you.