EMI calculator
Work out the monthly EMI on a home, car or personal loan, the total interest you will pay, and how each year's EMIs split between interest and principal. Pick a loan type to load an example, then enter your own amount, rate and tenure.
Year-by-year repayment schedule
Each row is one loan year of 12 EMIs, counted from your first EMI. It is not a financial year.
| Year | EMIs paid | Interest | Principal | Balance at year end |
|---|
How the EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1). P is the loan amount. r is the yearly rate divided by 12 and by 100. n is the number of monthly EMIs. Each month, interest is charged on the balance still owed, and the rest of the EMI repays principal. This is the reducing-balance method that banks use for EMI loans.
Take a ₹50,00,000 home loan at 8.5% for 20 years. The EMI is ₹43,391. Over 240 EMIs you repay ₹1,04,13,879, of which ₹54,13,879 is interest. The first EMI carries ₹35,417 of interest and ₹7,974 of principal. Principal overtakes interest only from EMI number 143.
EMI for three example loans
The rates below are examples, not quotes from any lender. Your rate depends on the lender, the loan type, your credit score and, for most floating-rate home loans, an external benchmark such as the RBI repo rate (now 5.50%).
| Example loan | Amount | Rate (example) | Tenure | EMI | Total interest | Total repaid |
|---|---|---|---|---|---|---|
| Home loan | ₹50,00,000 | 8.5% | 20 years | ₹43,391 | ₹54,13,879 | ₹1,04,13,879 |
| Car loan | ₹8,00,000 | 9.5% | 5 years | ₹16,801 | ₹2,08,089 | ₹10,08,089 |
| Personal loan | ₹5,00,000 | 12% | 3 years | ₹16,607 | ₹97,858 | ₹5,97,858 |
EMI per ₹1 lakh borrowed
Multiply by the number of lakhs you borrow. For ₹25 lakh, multiply by 25.
| Interest rate | 3 years | 5 years | 10 years | 15 years | 20 years | 25 years |
|---|---|---|---|---|---|---|
| 8% | ₹3,134 | ₹2,028 | ₹1,213 | ₹956 | ₹836 | ₹772 |
| 8.5% | ₹3,157 | ₹2,052 | ₹1,240 | ₹985 | ₹868 | ₹805 |
| 9% | ₹3,180 | ₹2,076 | ₹1,267 | ₹1,014 | ₹900 | ₹839 |
| 10% | ₹3,227 | ₹2,125 | ₹1,322 | ₹1,075 | ₹965 | ₹909 |
| 12% | ₹3,321 | ₹2,224 | ₹1,435 | ₹1,200 | ₹1,101 | ₹1,053 |
| 14% | ₹3,418 | ₹2,327 | ₹1,553 | ₹1,332 | ₹1,244 | ₹1,204 |
Assumes a fixed rate for the whole tenure, monthly EMIs starting one month after the loan is paid out, and no fees. Figures are rounded to the rupee for display; lenders usually round the EMI and adjust the last instalment.
Before you sign
For loans sanctioned since 1 October 2024, the lender must give you a Key Facts Statement with the annual percentage rate, which includes fees, and the full repayment schedule. Compare that schedule with the one above. If you plan to pay the loan off early, the home loan prepayment calculator shows the interest and years a lump sum or a monthly top-up saves. To see what the same EMI could grow to if invested instead, try the SIP calculator.
Questions people ask
How is EMI calculated?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the yearly interest rate divided by 12 and by 100, and n is the number of monthly instalments. (1 + r)^n means (1 + r) raised to the power n. Each month, interest is charged on the balance still owed, and the rest of the EMI repays principal.
Why does most of my early EMI go to interest?
Interest is charged on the balance, and the balance is highest at the start. On a ₹50,00,000 loan at 8.5% for 20 years, the first EMI of ₹43,391 carries ₹35,417 of interest and only ₹7,974 of principal. Principal overtakes interest only from EMI number 143.
What happens to my EMI when the repo rate changes?
Most new floating-rate home loans are linked to an external benchmark such as the RBI repo rate, now 5.50%. When your lender resets the rate, RBI rules require it to let you choose a higher EMI, a longer tenure, or a mix of both, and to tell you about the change. Enter the new rate here to see the new EMI.
Can I prepay a loan without a penalty?
Under RBI directions issued in July 2025, lenders cannot charge pre-payment charges on floating-rate loans taken by individuals for purposes other than business, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate loans, which include most personal and many car loans, can carry a charge set by the lender. Check your loan agreement.
Is the EMI here the same as my bank's?
It should be very close for a loan with a fixed rate and monthly instalments. Banks usually round the EMI to the rupee and adjust the last instalment, and some charge interest for the days before the first EMI. Your Key Facts Statement shows the lender's own repayment schedule and the annual percentage rate, which includes fees.
Sources: RBI: Key Facts Statement (KFS) for Loans and Advances, RBI/2024-25/18, 15 Apr 2024; RBI: Reset of Floating Interest Rate on EMI based Personal Loans, RBI/2023-24/55, 18 Aug 2023 (updated 1 Oct 2025); RBI: Pre-payment Charges on Loans Directions, 2025, RBI/2025-26/64, 2 Jul 2025.