EMI calculator

Monthly EMI, total interest and the schedule.

Monthly EMI

₹21,494

for 60 months

Principal amount: ₹10,00,000
Total interest: ₹2,89,634
Total amount payable: ₹12,89,634
Interest as % of loan: 28.96%

Early EMIs are mostly interest. Prepaying in the first few years saves far more than the same prepayment near the end. Try the prepay-or-invest tool to compare.

Principal amount₹10,00,000
Total interest₹2,89,634

Where each year's EMIs go

PrincipalInterest

What this calculates

An Equated Monthly Instalment repays a loan's interest and principal in equal monthly payments. Early EMIs are mostly interest; later ones mostly principal.

How it's calculated

EMI = P × R × (1 + R)ᴺ ÷ [(1 + R)ᴺ − 1]

P: loan amount
R: monthly rate = annual rate ÷ 12 ÷ 100
N: tenure in months

Results are illustrations based on the inputs you choose. Returns are not guaranteed and actual outcomes will vary. This is education, not advice.

Questions about this tool

A longer tenure lowers the EMI but raises total interest sharply. Choose the shortest tenure whose EMI you can comfortably afford.

A common guideline is to keep all EMIs under about 40% of take-home pay.

EMI calculator

What this calculates

How it's calculated

Questions about this tool

Shorter or longer tenure?

How much EMI is too much?

EMI calculator

What this calculates

How it's calculated

Questions about this tool

Shorter or longer tenure?

How much EMI is too much?