EMI Calculator
Calculate the monthly EMI for a home, car, bike or personal loan, with total interest, total payment and a principal vs interest chart.
Your EMI
₹10,747 /month
Principal
₹5,00,000
Interest
₹1,44,817
Total
₹6,44,817
Enter the loan amount you plan to borrow.
Enter the yearly interest rate offered by the bank or lender.
Choose the tenure in years.
How to use this tool
- Enter the loan amount you plan to borrow.
- Enter the yearly interest rate offered by the bank or lender.
- Choose the tenure in years.
- Read your monthly EMI, total interest and the principal vs interest split.
About EMI Calculator
EMI, or Equated Monthly Instalment, is the fixed amount you pay your lender every month until a loan is closed. Each EMI contains two parts: interest on the outstanding balance and a repayment of the principal. In the early months most of the EMI goes to interest; towards the end, most of it reduces the principal.
This calculator uses the standard reducing-balance formula that Indian banks and NBFCs use: 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 number of months. The chart shows how much of your total payment is the amount you borrowed versus the cost of borrowing.
Use it to compare offers before you sign. A 1% lower rate on a long home loan can save lakhs of rupees, and a shorter tenure raises the EMI but cuts total interest sharply. Try moving the tenure slider to see the trade-off for yourself.
A common guideline is to keep all your EMIs together below 40% of your monthly take-home income, so there is room for savings and emergencies. Remember that processing fees, insurance and GST on fees are not included here, and floating-rate loans can change over time.
This is an estimate for planning, not financial advice or a loan offer. All calculations happen in your browser and nothing you enter is stored.
Examples
- ₹5,00,000 at 10.5% for 5 years → EMI of about ₹10,747 and total interest of about ₹1,44,800.
- ₹30,00,000 home loan at 8.5% for 20 years → EMI of about ₹26,035.