EMI Calculator

Calculate your monthly loan EMI, total interest payable, and a year-by-year amortization schedule for any personal, car, or home loan.

Your loan details

Loan amount: ₹12,36,264

Interest rate: 12% p.a.

Loan tenure: 5 years

Your EMI summary

Monthly EMI

12% p.a.

₹27,500

for 5 years

Total interest payable

₹4.14 Lakhs

₹4,13,737

Total payment

₹16.5 Lakhs

₹16,50,001

33% interest

25%is interest

Principal₹12.4L

Interest₹4.1L

Principal vs. interest over time

Year-by-year amortization schedule

Year	Principal paid	Interest paid	Outstanding balance
1	₹1,91,980	₹1,38,020	₹10,44,284
2	₹2,16,328	₹1,13,673	₹8,27,957
3	₹2,43,763	₹86,237	₹5,84,193
4	₹2,74,679	₹55,322	₹3,09,515
5	₹3,09,515	₹20,485	₹0

Frequently asked questions

EMI stands for Equated Monthly Installment: a fixed amount you pay every month until the loan is fully repaid. It is calculated using the formula EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly installments. For example, a ₹25,00,000 loan at 9% p.a. for 15 years works out to an EMI of roughly ₹25,357.

Each EMI is split into an interest component and a principal component. Interest is charged on the outstanding balance, which is highest at the start of the loan. As you repay principal each month, the outstanding balance shrinks, so the interest portion of each EMI falls and the principal portion rises, even though the EMI itself stays the same.

Yes, spreading the same loan amount over more months reduces each individual EMI. However, a longer tenure also means you pay interest for longer, which increases the total interest payable over the life of the loan. Use the sliders above to compare how tenure affects both your EMI and the total interest.

Most loans in India (including this calculator) use the reducing balance method, where interest is charged only on the outstanding principal. Some loans (often personal or vehicle loans from smaller lenders) use a flat rate, where interest is charged on the original principal for the entire tenure, which works out more expensive even if the quoted rate looks similar.

Yes, making a lump-sum prepayment reduces your outstanding principal, which lowers either your EMI (if the tenure stays the same) or your remaining tenure (if the EMI stays the same). If you have a home loan, try the Home Loan EMI calculator, which lets you model one-time or recurring prepayments.

Popular EMI calculations

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This calculator computes a fixed monthly EMI of ₹27,500 on a loan principal of ₹12,36,264 at 12% p.a., reducing the outstanding balance over 5 years (60 months). Actual EMIs depend on the lender's exact rate, processing fees, and whether the rate is fixed or floating.

EMI Calculator

Calculate your monthly loan EMI, total interest payable, and a year-by-year amortization schedule for any personal, car, or home loan.

Your loan details

Loan amount: ₹12,36,264

Interest rate: 12% p.a.

Loan tenure: 5 years

Your EMI summary

Monthly EMI

12% p.a.

₹27,500

for 5 years

Total interest payable

₹4.14 Lakhs

₹4,13,737

Total payment

₹16.5 Lakhs

₹16,50,001

33% interest

25%is interest

Principal₹12.4L

Interest₹4.1L

Principal vs. interest over time

Year-by-year amortization schedule

Year	Principal paid	Interest paid	Outstanding balance
1	₹1,91,980	₹1,38,020	₹10,44,284
2	₹2,16,328	₹1,13,673	₹8,27,957
3	₹2,43,763	₹86,237	₹5,84,193
4	₹2,74,679	₹55,322	₹3,09,515
5	₹3,09,515	₹20,485	₹0

Frequently asked questions

Popular EMI calculations

Related calculators

EMI Calculator

Frequently asked questions

How is the EMI calculated?

Why does the interest portion reduce over time?

Does a longer tenure always mean lower EMIs?

What is the difference between flat rate and reducing balance interest?

Can I prepay my loan to reduce the EMI or tenure?

EMI Calculator

Frequently asked questions

How is the EMI calculated?

Why does the interest portion reduce over time?

Does a longer tenure always mean lower EMIs?

What is the difference between flat rate and reducing balance interest?

Can I prepay my loan to reduce the EMI or tenure?