EMI calculator
See your monthly instalment, how much of it is interest, and how the loan balance falls each year.
Runs entirely in your browser. Nothing you type is sent anywhere.
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Monthly EMI—
- Principal
- —
- Total interest
- —
- Total payable
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Principal Interest
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance left |
|---|
How to use the EMI calculator
EMI is worked out as 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 monthly instalments.
- Enter the loan amount.
- Enter the yearly interest rate your lender quoted.
- Enter the tenure in years or months.
- Read your EMI and open the schedule to see the yearly breakdown.
Understanding your result
Your EMI stays the same every month. In the early years a bigger share of each EMI goes to interest, and that share falls as the balance shrinks, which the yearly table shows. A longer tenure lowers the EMI but raises the total interest you pay. Lenders may add processing fees or insurance and may round differently, so the figure in your loan offer is the one to rely on.
Questions
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay, the interest part shrinks and more of each EMI goes towards the principal.
Does a longer tenure save money?
It lowers the EMI but increases the total interest you pay, often by a lot. Try 15 versus 25 years on a home loan to see the difference.
Is this calculation exact?
It uses the standard formula banks and fund houses publish. Your lender or bank may round differently or add fees, so treat the result as a close estimate and confirm with them before you commit.