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EMI calculator

See the real monthly weight of a loan.

Estimate EMI, total interest, and repayment pressure before a borrowing decision becomes a family commitment.

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EMI Calculator

Results

Monthly EMI:

₹0

Principal Amount:

₹10,00,000

Total Interest:

₹0

Total Payment:

₹0

How the EMI calculation works

EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is loan principal, r the monthly interest rate (annual ÷ 12 ÷ 100), and n the tenure in months. Early EMIs are mostly interest; the principal share rises with every payment.

Worked example

A ₹30,00,000 home loan at 8.5% for 20 years:

Loan amount₹30,00,000
Interest rate8.5% p.a.
Tenure20 years
Monthly EMI₹26,035
Total interest₹32,48,327
Total payment₹62,48,327

Over 20 years the interest bill exceeds the original loan — the clearest argument for prepaying early, when EMIs are interest-heavy.

Frequently asked questions

What EMI is affordable for my income?
Lenders typically cap total EMIs near 40–50% of net monthly income, but households planning real wealth-building keep all EMIs under 30%, preserving room for SIPs and emergencies.
Does prepaying a loan reduce EMI or tenure?
Both options exist. Tenure reduction saves far more interest for the same prepayment; EMI reduction eases monthly cash flow. Most banks allow either — choose by whether you need relief now or savings overall.
Why does total interest look larger than the loan?
At 8.5% over 20 years, interest compounds on a large outstanding balance for decades. Shorter tenures cut interest sharply: the same loan over 15 years costs roughly ₹9–10 lakh less in interest despite higher EMIs.
Is floating-rate EMI different from fixed?
The EMI formula is identical. Floating rates reset periodically with benchmarks, changing either your EMI or remaining tenure at each reset — worth stress-testing with a 1–2% higher rate before committing.

Calculators answer questions. Your dashboard answers all of them.

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