How to use the EMI Calculator
Step 1: Enter the loan amount. Commas are fine, for example 25,00,000.
Step 2: Enter the yearly interest rate your bank quotes, such as 8.5.
Step 3: Enter the tenure and choose whether it is in years or months.
Step 4: Read the monthly EMI, total interest and total payment, then scroll to the schedule.
Step 5: Tick Show every month to see each instalment's split between principal and interest.
Features and benefits
Clear headline numbers
Monthly EMI, total interest and total payment, side by side.
Principal versus interest
A simple bar shows how much of your money goes to interest.
Full repayment schedule
Year by year, or every month, with the balance left after each payment.
Years or months
Enter the tenure in whichever unit your loan uses.
Copy the results
Copy a summary to paste into a note or message.
How EMI is calculated
For a reducing-balance loan the EMI is P x r x (1+r)^n divided by ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (the yearly rate divided by 12 and by 100) and n is the number of months. For a loan of 10,00,000 rupees at 10 percent for 10 years the EMI comes to about 13,215 rupees.
Each month the interest is charged on the balance still owed. So in the early years most of your EMI pays interest and only a little reduces the principal, and the balance moves faster later. The schedule shows this split for every year or month.
Why tenure matters so much
A longer tenure gives a smaller EMI but a much larger total interest bill, because the balance stays high for longer. A shorter tenure does the opposite. Try the same loan at 15 and 20 years to see the difference in total interest, then pick the EMI you can comfortably afford. Part-prepayments, floating-rate changes and fees are not included here.
Example use cases
Home loans
Check what a long loan really costs in interest before you commit.
Comparing tenures
See how a shorter tenure raises the EMI but cuts total interest.
Car and personal loans
Test different amounts and rates to fit your monthly budget.
Learning
Understand how early EMIs are mostly interest and later ones mostly principal.
Frequently asked questions
What is an EMI?
EMI means equated monthly instalment: the fixed amount you pay every month to repay a loan, covering both the interest and part of the principal.
Is the total interest shown exact?
It is the exact result of the standard formula for the numbers you enter. Banks may round monthly or add fees, so your real figures can differ slightly.
Does it work for floating-rate loans?
It assumes one fixed rate for the whole loan. If your rate changes, recalculate from the new balance and rate.
Can I enter a 0% interest loan?
Yes. The EMI is then simply the amount divided by the number of months.
Is this financial advice?
No. It is a calculator. Speak to your bank or an adviser for decisions about borrowing.
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Last updated 10 November 2026.