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EMI Calculator

Work out the monthly EMI on a home, car or personal loan, see how prepaying cuts the interest, and check how much loan you can afford.

Monthly EMI
₹43,391

on ₹50 Lakh for 20 years

Loan amount
₹50 Lakh
Total interest
₹54.14 Lakh
Total payment
₹1.04 Crore
Interest share
52.0%

Principal and interest each year

How much of what you pay in a year reduces the loan, and how much is interest.

₹0₹1.3 L₹2.6 L₹3.91 L₹5.21 LYear 1: Principal paid ₹99,511, Interest paid ₹4,21,1821Year 2: Principal paid ₹1,08,307, Interest paid ₹4,12,387Year 3: Principal paid ₹1,17,881, Interest paid ₹4,02,8133Year 4: Principal paid ₹1,28,300, Interest paid ₹3,92,394Year 5: Principal paid ₹1,39,641, Interest paid ₹3,81,0535Year 6: Principal paid ₹1,51,984, Interest paid ₹3,68,710Year 7: Principal paid ₹1,65,418, Interest paid ₹3,55,2767Year 8: Principal paid ₹1,80,039, Interest paid ₹3,40,655Year 9: Principal paid ₹1,95,953, Interest paid ₹3,24,7419Year 10: Principal paid ₹2,13,274, Interest paid ₹3,07,420Year 11: Principal paid ₹2,32,125, Interest paid ₹2,88,56911Year 12: Principal paid ₹2,52,643, Interest paid ₹2,68,051Year 13: Principal paid ₹2,74,974, Interest paid ₹2,45,72013Year 14: Principal paid ₹2,99,279, Interest paid ₹2,21,415Year 15: Principal paid ₹3,25,733, Interest paid ₹1,94,96115Year 16: Principal paid ₹3,54,525, Interest paid ₹1,66,169Year 17: Principal paid ₹3,85,862, Interest paid ₹1,34,83217Year 18: Principal paid ₹4,19,968, Interest paid ₹1,00,726Year 19: Principal paid ₹4,57,090, Interest paid ₹63,60419Year 20: Principal paid ₹4,97,492, Interest paid ₹23,20220
Principal paidInterest paidYears on the bottom axis

This is an estimate using one fixed rate and equal monthly instalments. Your lender's figures can differ because of rounding, fees, insurance and rate changes on a floating loan. It is not financial advice.

How to use this EMI calculator

  1. Pick Home, Car or Personal to start from typical values, or type your own loan amount, interest rate and tenure. These are starting points, not lender quotes.
  2. Read your monthly EMI, the total interest and the total you will pay.
  3. Add a monthly prepayment to see how much interest and time it saves.
  4. Open the yearly or monthly schedule to see how each instalment splits between principal and interest.
  5. Switch to "Loan I can afford" to start from the EMI you are comfortable with instead.

A worked example

Take a home loan of ₹50,00,000 at 8.5% a year for 20 years. The EMI is ₹43,391. Over 240 instalments you pay ₹1,04,13,879 in total, of which ₹54,13,879 is interest. A car loan of ₹8,00,000 at 9% for 5 years has an EMI of ₹16,607 and costs ₹1,96,401 in interest.

What prepayment does

Paying an extra ₹5,000 a month on the same ₹50 lakh loan closes it in 187 months (15 years and 7 months) instead of 240, and saves about ₹13,89,250 of interest, or 53 months of payments. The saving comes from cutting the balance interest is charged on, so the earlier you prepay, the more it saves. Check your loan agreement for prepayment charges, which are usually nil on floating-rate loans to individuals but can apply on fixed-rate ones.

How much loan can you afford?

Working backwards: an EMI of ₹40,000 at 8.5% over 20 years supports a loan of about ₹46,09,234. A longer tenure lowers the EMI and raises the loan you qualify for, but the total interest grows a lot, so compare a few tenures before settling on one.

Limits of this calculator

It assumes one interest rate for the whole loan and equal monthly instalments paid at the end of each month. It does not include processing fees, insurance, part-payment charges, moratorium periods or changes in a floating rate. Related tools: SIP calculator, in-hand salary calculator and income tax calculator.

Frequently Asked Questions (FAQ)

EMI = P x r x (1 + r)^n / ((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 monthly instalments. The EMI stays the same each month, but the split changes: early instalments are mostly interest and later ones are mostly principal.
Interest is charged on the outstanding balance, which is highest at the start. On a ₹50 lakh home loan at 8.5% over 20 years, about ₹4.21 lakh of the first year's payments is interest and only about ₹0.99 lakh reduces the loan. By the last year the interest share has fallen to about ₹23,000.
This calculator keeps your EMI the same and shortens the loan, which usually saves the most interest. Some lenders let you choose to lower the EMI instead. Extra payments made early save far more interest than the same amount paid late, because they cut the balance that interest is charged on for longer.
On a floating-rate loan the lender changes the rate when its benchmark moves, and either your EMI or your remaining tenure adjusts. This calculator uses one fixed rate for the whole loan, so treat the result as an estimate and re-run it with the new rate when it changes.
No. It covers only principal and interest. Processing fees, loan insurance, valuation and legal charges are separate, and lenders round the EMI to the nearest rupee, so your sanction letter may differ by a small amount.
Lenders look at your total monthly obligations against your income, and many use a figure around 40 to 50% of take-home pay as a ceiling, though policies differ. The "Loan I can afford" mode turns a monthly budget, a rate and a tenure into the largest loan that fits. Leaving some room below your limit is safer.
Under the old tax regime, interest on a self-occupied home loan can be deducted up to ₹2 lakh a year and principal repayment counts within the ₹1.5 lakh Section 80C limit, subject to conditions. Under the new regime these deductions are generally not available for a self-occupied home. Check the current rules or ask a tax adviser.
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