EMI Calculator
Monthly EMI for any loan, with total interest and a year-by-year repayment breakdown.
- Principal
- ₹40,00,000.00
- Total interest
- ₹43,31,103.04
- Total repayment
- ₹83,31,103.04
Shares the figure you see above, with a link back to this calculator. Nothing is uploaded.
Year by year
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹79,609 | ₹3.37 lakh | ₹39.20 lakh |
| 2 | ₹86,646 | ₹3.30 lakh | ₹38.34 lakh |
| 3 | ₹94,305 | ₹3.22 lakh | ₹37.39 lakh |
| 4 | ₹1.03 lakh | ₹3.14 lakh | ₹36.37 lakh |
| 5 | ₹1.12 lakh | ₹3.05 lakh | ₹35.25 lakh |
| 6 | ₹1.22 lakh | ₹2.95 lakh | ₹34.04 lakh |
| 7 | ₹1.32 lakh | ₹2.84 lakh | ₹32.71 lakh |
| 8 | ₹1.44 lakh | ₹2.73 lakh | ₹31.27 lakh |
| 9 | ₹1.57 lakh | ₹2.60 lakh | ₹29.70 lakh |
| 10 | ₹1.71 lakh | ₹2.46 lakh | ₹28.00 lakh |
| 11 | ₹1.86 lakh | ₹2.31 lakh | ₹26.14 lakh |
| 12 | ₹2.02 lakh | ₹2.14 lakh | ₹24.12 lakh |
| 13 | ₹2.20 lakh | ₹1.97 lakh | ₹21.92 lakh |
| 14 | ₹2.39 lakh | ₹1.77 lakh | ₹19.53 lakh |
| 15 | ₹2.61 lakh | ₹1.56 lakh | ₹16.92 lakh |
| 16 | ₹2.84 lakh | ₹1.33 lakh | ₹14.08 lakh |
| 17 | ₹3.09 lakh | ₹1.08 lakh | ₹11.00 lakh |
| 18 | ₹3.36 lakh | ₹80,581 | ₹7.64 lakh |
| 19 | ₹3.66 lakh | ₹50,883 | ₹3.98 lakh |
| 20 | ₹3.98 lakh | ₹18,561 | ₹0 |
Notice how the interest share falls every year. That is why prepaying early saves far more than prepaying later.
- The rate is fixed for the whole tenure. A floating-rate loan resets your EMI or your tenure whenever the benchmark moves.
- No processing fee, insurance, prepayment charge or GST on the fee is included — add those to the loan amount if you want them in the EMI.
- Interest is charged on the reducing balance, which is the standard method for home, car, personal and education loans in India.
Pro is coming
PlaceholderA PDF report of your result, saved history across tools and CSV export. The buttons below are placeholders — nothing is charged and nothing is sent.
- Downloadable PDF report of any result
- Saved history you can reopen later
- CSV export for your own records
About the emi calculator
An EMI is fixed, but the split inside it is not. In the first months almost everything you pay goes towards interest; by the last months almost everything goes towards principal. Seeing that shift is the fastest way to understand why prepaying early saves so much more than prepaying late.
Enter the loan amount, the annual interest rate and the tenure to get your monthly EMI, the total interest over the life of the loan, and the total amount you will repay. The year-by-year table shows how much of each year's payment is interest and how the outstanding balance falls.
The formula behind the EMI is the standard reducing-balance one every Indian bank uses: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n the number of months.
Frequently asked questions
How is EMI calculated on a loan?
On a reducing balance: interest for the month is charged on the outstanding principal, and the rest of your fixed EMI reduces that principal. Because the principal shrinks every month, the interest portion shrinks too and the principal portion grows.
Does a longer tenure reduce my EMI?
It lowers the monthly EMI but raises the total interest, usually by a lot. Stretching a ₹40 lakh home loan from 20 to 30 years cuts the EMI by roughly a fifth while adding well over ₹20 lakh of extra interest at 8.5%.
Should I choose a shorter tenure or a bigger EMI?
If the EMI fits comfortably in your budget, take the shorter tenure — you pay materially less interest. A common middle path is the longest tenure for the sanction, with voluntary prepayments whenever you have surplus cash.
How much does prepaying a loan save?
Every rupee prepaid removes future interest on that rupee. Prepaying in year two of a 20-year loan typically saves far more than prepaying the same amount in year fifteen, because the rupees you remove would have compounded for longer.
Is the EMI the same for floating and fixed rates?
The formula is the same; what changes is that a floating-rate loan resets your EMI or your tenure whenever the benchmark rate moves. The number this calculator shows is exact only for as long as the rate holds.
Disclaimer
These calculators are for estimates and general information only. They are not financial, investment, tax or legal advice, and they do not replace a chartered accountant, a financial adviser or the official rules. Rates, slabs and thresholds change — verify anything important against the source before acting on it.
More free tools
SIP Calculator
Project a monthly SIP with an optional 10% annual step-up and a starting lumpsum, in seconds.
FD & RD Calculator
Maturity value for an FD or an RD, with the compounding option banks actually use and a TDS check.
Crypto Profit Calculator
Your true crypto profit after trading fees, GST, 1% TDS and 30% tax — not just the headline gain.