EMI Calculator — Calculate Equated Monthly Installment
Calculate your monthly EMI, total interest payable, and amortization schedule for any home, car, or personal loan in India.
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Payment Breakdown (Principal vs Interest)
Interest Rate Sensitivity Comparison
See how small changes in interest rates impact your monthly EMI and total interest outgo.
| Interest Rate | Monthly EMI | Monthly Difference | Total Interest Paid | Total Payment |
|---|---|---|---|---|
| 7.50% | ₹24,168 | -₹1,867 | ₹28,00,320 | ₹58,00,320 |
| 8.00% | ₹25,093 | -₹942 | ₹30,22,320 | ₹60,22,320 |
| 8.50% (Current) | ₹26,035 | 0 | ₹32,48,400 | ₹62,48,400 |
| 9.00% | ₹26,992 | +₹957 | ₹34,78,080 | ₹64,78,080 |
| 9.50% | ₹27,964 | +₹1,929 | ₹37,11,360 | ₹67,11,360 |
| 10.00% | ₹28,951 | +₹2,916 | ₹39,48,240 | ₹69,48,240 |
Loan Repayment & Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Payment | Balance Outstanding | Loan Paid % |
|---|---|---|---|---|---|
| Year 1 | ₹59,710 | ₹2,52,710 | ₹3,12,420 | ₹29,40,290 | 2.0% |
| Year 2 | ₹64,988 | ₹2,47,432 | ₹3,12,420 | ₹28,75,302 | 4.2% |
| Year 3 | ₹70,733 | ₹2,41,687 | ₹3,12,420 | ₹28,04,569 | 6.5% |
| Year 4 | ₹76,984 | ₹2,35,436 | ₹3,12,420 | ₹27,27,585 | 9.1% |
| Year 5 | ₹83,791 | ₹2,28,629 | ₹3,12,420 | ₹26,43,794 | 11.9% |
| Year 6 | ₹91,196 | ₹2,21,224 | ₹3,12,420 | ₹25,52,598 | 14.9% |
| Year 7 | ₹99,256 | ₹2,13,164 | ₹3,12,420 | ₹24,53,342 | 18.2% |
| Year 8 | ₹1,08,029 | ₹2,04,391 | ₹3,12,420 | ₹23,45,313 | 21.8% |
| Year 9 | ₹1,17,578 | ₹1,94,842 | ₹3,12,420 | ₹22,27,735 | 25.7% |
| Year 10 | ₹1,27,973 | ₹1,84,447 | ₹3,12,420 | ₹20,99,762 | 30.0% |
| Year 11 | ₹1,39,285 | ₹1,73,135 | ₹3,12,420 | ₹19,60,477 | 34.7% |
| Year 12 | ₹1,51,595 | ₹1,60,825 | ₹3,12,420 | ₹18,08,882 | 39.7% |
| Year 13 | ₹1,64,995 | ₹1,47,425 | ₹3,12,420 | ₹16,43,887 | 45.2% |
| Year 14 | ₹1,79,580 | ₹1,32,840 | ₹3,12,420 | ₹14,64,307 | 51.2% |
| Year 15 | ₹1,95,451 | ₹1,16,969 | ₹3,12,420 | ₹12,68,856 | 57.7% |
| Year 16 | ₹2,12,729 | ₹99,691 | ₹3,12,420 | ₹10,56,127 | 64.8% |
| Year 17 | ₹2,31,532 | ₹80,888 | ₹3,12,420 | ₹8,24,595 | 72.5% |
| Year 18 | ₹2,51,997 | ₹60,423 | ₹3,12,420 | ₹5,72,598 | 80.9% |
| Year 19 | ₹2,74,272 | ₹38,148 | ₹3,12,420 | ₹2,98,326 | 90.1% |
| Year 20 | ₹2,98,326 | ₹13,906 | ₹3,12,232 | ₹0 | 100.0% |
Example: ₹30 Lakh Loan for 20 Years at 8.5%
Suppose you take a loan of ₹30,00,000 from a bank at an annual reducing interest rate of 8.5% for a tenure of 20 years (240 months).
- Loan Principal:₹30,00,000
- Interest Rate:8.50% p.a.
- Tenure:20 Years (240 Months)
- Monthly EMI:₹26,035 / month
- Total Interest Paid:₹32,48,322
- Total Repayment:₹62,48,322
Key Takeaway: Over 20 years, total interest paid (₹32.48 Lakh) exceeds the original principal borrowed. Increasing your EMI slightly or making part-prepayments can save lakhs in interest.
How This Calculation Works (Mathematical Formula)
Where P is Principal loan amount, r is monthly interest rate (Annual Rate / 12 / 100), and n is total number of monthly installments.
Frequently Asked Questions
EMI is calculated using reducing balance formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1). In the initial years, a larger portion of EMI goes towards interest, and gradually the principal component increases.
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