Skip to content
Neminath Traders

EMI Calculator

Find your monthly loan EMI, total interest and total repayment in seconds.

₹

₹25 lakh

%
yrs

Monthly EMI

₹21,696

for 240 months

Interest52%
Principal
₹25,00,000
Total interest
₹27,06,939
Total payment
₹52,06,939

Year-wise repayment schedule

Year 1: Principal paid ₹49,756, Interest paid ₹2,10,5911Year 2: Principal paid ₹54,154, Interest paid ₹2,06,193Year 3: Principal paid ₹58,940, Interest paid ₹2,01,407Year 4: Principal paid ₹64,150, Interest paid ₹1,96,1974Year 5: Principal paid ₹69,820, Interest paid ₹1,90,527Year 6: Principal paid ₹75,992, Interest paid ₹1,84,355Year 7: Principal paid ₹82,709, Interest paid ₹1,77,6387Year 8: Principal paid ₹90,020, Interest paid ₹1,70,327Year 9: Principal paid ₹97,977, Interest paid ₹1,62,370Year 10: Principal paid ₹1,06,637, Interest paid ₹1,53,71010Year 11: Principal paid ₹1,16,063, Interest paid ₹1,44,284Year 12: Principal paid ₹1,26,321, Interest paid ₹1,34,026Year 13: Principal paid ₹1,37,487, Interest paid ₹1,22,86013Year 14: Principal paid ₹1,49,640, Interest paid ₹1,10,707Year 15: Principal paid ₹1,62,866, Interest paid ₹97,480Year 16: Principal paid ₹1,77,262, Interest paid ₹83,08516Year 17: Principal paid ₹1,92,931, Interest paid ₹67,416Year 18: Principal paid ₹2,09,984, Interest paid ₹50,363Year 19: Principal paid ₹2,28,545, Interest paid ₹31,80219Year 20: Principal paid ₹2,48,746, Interest paid ₹11,60120
Principal paidInterest paidPeak ₹2.60 L
YearPrincipalInterestBalance
1₹49,756₹2,10,591₹24,50,244
2₹54,154₹2,06,193₹23,96,091
3₹58,940₹2,01,407₹23,37,150
4₹64,150₹1,96,197₹22,73,000
5₹69,820₹1,90,527₹22,03,180
6₹75,992₹1,84,355₹21,27,188
7₹82,709₹1,77,638₹20,44,479
8₹90,020₹1,70,327₹19,54,459
9₹97,977₹1,62,370₹18,56,482
10₹1,06,637₹1,53,710₹17,49,846
11₹1,16,063₹1,44,284₹16,33,783
12₹1,26,321₹1,34,026₹15,07,462
13₹1,37,487₹1,22,860₹13,69,974
14₹1,49,640₹1,10,707₹12,20,335
15₹1,62,866₹97,480₹10,57,468
16₹1,77,262₹83,085₹8,80,206
17₹1,92,931₹67,416₹6,87,275
18₹2,09,984₹50,363₹4,77,291
19₹2,28,545₹31,802₹2,48,746
20₹2,48,746₹11,601₹0

An EMI (equated monthly instalment) is the fixed amount you pay your bank or NBFC every month until a loan is repaid. Each EMI contains two parts: interest on the outstanding balance and a repayment of principal. This calculator works for home loans, car loans, personal loans, education loans and any other loan repaid in equal monthly instalments on a reducing balance.

How to use this calculator

  1. Enter the loan amount you plan to borrow (for example, ₹25 lakh).
  2. Enter the annual interest rate quoted by the lender.
  3. Enter the tenure in years or months.
  4. Read the monthly EMI, the total interest payable and the total amount you will repay over the life of the loan.

Change one input at a time to see how sensitive the EMI is to the rate and the tenure.

Formula

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
  • P = principal (loan amount)
  • r = monthly interest rate = annual rate ÷ 12 ÷ 100
  • n = tenure in months

Total repayment = EMI × n. Total interest = (EMI × n) − P.

Worked example

Suppose you take a home loan of ₹25 lakh at 8.5% a year for 20 years.

  • r = 8.5 ÷ 12 ÷ 100 = 0.0070833
  • n = 20 × 12 = 240 months
  • (1 + r)^240 ≈ 5.4422

EMI = 25,00,000 × 0.0070833 × 5.4422 ÷ (5.4422 − 1) ≈ ₹21,696

Item Amount
Monthly EMI ₹21,696
Total repayment (240 EMIs) ≈ ₹52.07 lakh
Total interest ≈ ₹27.07 lakh

Over 20 years you pay more in interest than the amount borrowed. In the first month, interest is about ₹17,708 (₹25 lakh × 0.0070833), so only about ₹3,988 of the first EMI reduces the principal.

Things to keep in mind

  • Reducing balance method. The formula assumes interest is charged on the outstanding balance each month, which is how Indian banks price home, car and personal loans. Some lenders quote a "flat rate" on consumer or vehicle loans; a flat rate looks lower but costs much more, so convert it before comparing.
  • Floating rates. Most home loans in India are linked to an external benchmark such as the RBI repo rate. When the benchmark moves, either your EMI or your tenure changes. The calculator assumes one fixed rate for the whole tenure.
  • Fees are not included. Processing fees (usually with 18% GST), legal and valuation charges, stamp duty and loan insurance are separate costs.
  • Prepayment. Under RBI directions, lenders cannot levy prepayment charges on floating-rate loans taken by individuals for non-business purposes sanctioned or renewed on or after 1 January 2026. Fixed-rate loans may still carry a charge. Use the loan prepayment calculator to see how a part-payment changes your EMI or tenure.
  • Tax benefits. Under the old tax regime, interest on a home loan for a self-occupied house and principal repayment may qualify for deductions, subject to limits. These deductions are largely unavailable in the new regime. Check the current rules under the Income-tax Act 2025 before relying on them.
  • Affordability. Lenders typically cap total EMIs at 40–60% of net monthly income. The loan eligibility calculator estimates how much you may be able to borrow.

The results are estimates for planning and comparison. Your lender's sanction letter and amortisation schedule are the final reference.

Frequently asked questions

How is EMI calculated?

EMI is calculated with the formula P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of monthly instalments. The result is a fixed payment that covers both interest and principal.

Does a longer tenure reduce the total cost of a loan?

No. A longer tenure lowers the monthly EMI but increases the total interest paid, because the outstanding principal stays higher for longer.

Why does most of my early EMI go towards interest?

Interest is charged on the outstanding balance, which is highest at the start of the loan. As the principal reduces, the interest portion of each EMI falls and the principal portion rises.

Will my EMI change if my floating interest rate changes?

Yes, it can. When the rate on a floating-rate loan changes, lenders either revise the EMI or extend the tenure, and many default to extending the tenure first.

Does the EMI calculator include processing fees and insurance?

No. The calculator shows only principal and interest. Processing fees, GST on fees, loan insurance and other charges are extra and should be added separately when comparing offers.

Learn more