EMI Calculator
Work out the monthly EMI on a home, personal or car loan, plus the total interest you'll pay.
20 yr
Monthly EMI
₹26,034.70
Year-by-year repayment schedule
Early years are mostly interest; later years mostly principal. Total interest ₹32,48,327 on ₹30,00,000 borrowed.
| Year | Principal paid | Interest paid | Total payment | Balance left |
|---|---|---|---|---|
| 1 | ₹59,707 | ₹2,52,709 | ₹3,12,416 | ₹29,40,293 |
| 2 | ₹64,984 | ₹2,47,432 | ₹3,12,416 | ₹28,75,309 |
| 3 | ₹70,728 | ₹2,41,688 | ₹3,12,416 | ₹28,04,580 |
| 4 | ₹76,980 | ₹2,35,436 | ₹3,12,416 | ₹27,27,600 |
| 5 | ₹83,785 | ₹2,28,632 | ₹3,12,416 | ₹26,43,815 |
| 6 | ₹91,190 | ₹2,21,226 | ₹3,12,416 | ₹25,52,625 |
| 7 | ₹99,251 | ₹2,13,166 | ₹3,12,416 | ₹24,53,374 |
| 8 | ₹1,08,024 | ₹2,04,393 | ₹3,12,416 | ₹23,45,351 |
| 9 | ₹1,17,572 | ₹1,94,844 | ₹3,12,416 | ₹22,27,779 |
| 10 | ₹1,27,964 | ₹1,84,452 | ₹3,12,416 | ₹20,99,815 |
| 11 | ₹1,39,275 | ₹1,73,141 | ₹3,12,416 | ₹19,60,540 |
| 12 | ₹1,51,586 | ₹1,60,831 | ₹3,12,416 | ₹18,08,954 |
| 13 | ₹1,64,985 | ₹1,47,432 | ₹3,12,416 | ₹16,43,969 |
| 14 | ₹1,79,568 | ₹1,32,849 | ₹3,12,416 | ₹14,64,402 |
| 15 | ₹1,95,440 | ₹1,16,977 | ₹3,12,416 | ₹12,68,962 |
| 16 | ₹2,12,715 | ₹99,701 | ₹3,12,416 | ₹10,56,247 |
| 17 | ₹2,31,517 | ₹80,899 | ₹3,12,416 | ₹8,24,730 |
| 18 | ₹2,51,981 | ₹60,435 | ₹3,12,416 | ₹5,72,749 |
| 19 | ₹2,74,254 | ₹38,163 | ₹3,12,416 | ₹2,98,495 |
| 20 | ₹2,98,495 | ₹13,921 | ₹3,12,416 | ₹0 |
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Not financial advice. These tools are for informational purposes only. See how we calculate and our full disclaimer.
How it's calculated
The Equated Monthly Installment (EMI) is:
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
where P is the loan principal, r is the monthly interest rate (annual ÷ 12 ÷ 100) and n is the tenure in months. The maths is identical for home, personal and car loans — only typical rates and tenures differ, which the loan-type toggle sets for you. Total interest = EMI × n − principal.
Home loan rates — top banks
Bank rate comparison coming soon.
We verify and publish EMI-Home rates from the top banks monthly, each with the date it was checked. We never show an unverified rate — see our methodology.
Personal loan rates — top banks
Bank rate comparison coming soon.
We verify and publish EMI-Personal rates from the top banks monthly, each with the date it was checked. We never show an unverified rate — see our methodology.
Car loan rates — top banks
Bank rate comparison coming soon.
We verify and publish EMI-Car rates from the top banks monthly, each with the date it was checked. We never show an unverified rate — see our methodology.
EMI tips
- A shorter tenure costs more each month but far less in total interest.
- Even a small prepayment early in the loan can save a surprising amount of interest.
- Compare the annual rate and processing fees across lenders, not just the EMI.
Frequently asked questions
How is EMI calculated?
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. Each EMI covers both interest and a part of the principal.
Is the EMI formula different for home, personal and car loans?
No — the maths is identical. What differs is the typical interest rate and tenure. The loan-type toggle simply sets sensible starting values for each; you can adjust them to match your actual offer.
How does tenure affect my EMI and total interest?
A longer tenure lowers the monthly EMI but increases the total interest you pay, because you owe the balance for longer. A shorter tenure raises the EMI but reduces total interest.
What is total interest?
Total interest is the sum of all interest across the loan: EMI × number of months − principal. It shows the true cost of borrowing on top of the amount you receive.
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