EMI Calculator
Calculate your Equated Monthly Instalment (EMI) for any loan. Get a complete amortization schedule showing how much goes to principal vs interest each year.
Loan Details
Loan Amount₹30,00,000
Annual Interest Rate8.5%
Loan Tenure (Months)240 mo
Principal vs Interest
Monthly EMI
—
Principal
Interest
Monthly EMI
—
Loan Principal
—
Total Interest
—
Total Amount
—
Interest %
—
📅 Year-wise Amortization Schedule
Showing annual summary| Year | Principal Paid | Interest Paid | Total Paid | Balance Remaining |
|---|
EMI Formula
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
P = Loan principal | r = Monthly interest rate (Annual rate ÷ 12 ÷ 100) | n = Loan tenure in months
💡 Example Scenarios
Home Loan
20-Year Home Loan
₹30 lakh home loan at 8.5% for 20 years. See total interest paid over the loan tenure — often more than the principal itself!
₹30L loan8.5% rate20 years
Car Loan
5-Year Car Loan
₹7 lakh car loan at 9% for 5 years. Calculate your monthly outgo and total interest cost before buying a car on EMI.
₹7L loan9% rate5 years
Personal Loan
3-Year Personal Loan
₹2 lakh personal loan at 14% for 3 years. Personal loans are expensive — see exactly how much extra you pay in interest.
₹2L loan14% rate3 years
📖 How to Use
1
Select Loan Type (Optional)
Click Home Loan, Car Loan, or Personal Loan to auto-fill typical values. You can then fine-tune the inputs to match your actual loan details.
2
Enter Loan Details
Input the loan amount, annual interest rate from your lender, and loan tenure in months. Banks quote annual rates — the calculator converts to monthly automatically.
3
Review Amortization Schedule
Check the year-wise table to see how much of each year's payments go to principal vs interest. In early years, most of your EMI pays interest. Over time, more goes to reducing the principal.
4
Compare Total Interest
Pay attention to "Total Interest" — for a 20-year home loan it can be nearly equal to the principal. Prepaying extra whenever possible significantly reduces total interest paid.