Enter your loan amount, interest rate, and tenure — this calculator instantly shows your monthly EMI and total interest payable.
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Your loan details
Work out EMI by tenure in years, or switch to months for shorter loans.
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₹50,000₹1Cr
% per year
1%24%
years
1 yr30 yrs
months
3 mo360 mo
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Monthly EMI
Loan amount₹0
Total interest₹0
Total payment₹0
Monthly EMI₹0
Estimate only — assumes a fixed interest rate for the full tenure with standard reducing-balance EMI. Actual EMI may vary with processing fees, floating rates, or prepayments.
How EMI is calculated
Every EMI is a fixed monthly payment that covers both interest and principal, calculated using the reducing-balance method. In early months, more of the EMI goes toward interest; as the outstanding principal shrinks, later EMIs pay off more principal — even though the EMI amount itself stays the same throughout.
1
Enter loan amount
The principal you're borrowing from the lender.
2
Set rate and tenure
Annual interest rate and how many years or months to repay.
3
See your EMI
Monthly instalment plus total interest over the loan.
The EMI formula
EMI = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
P = loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = number of monthly instalments.
Total interest = (EMI × n) − P
A worked example
A ₹25,00,000 home loan at 8.5% for 20 years:
Loan amount
₹25,00,000
Interest rate
8.5% per year
Tenure
20 years (240 months)
Monthly EMI
₹21,696
Total interest paid
₹27,07,040
Total payment
₹52,07,040
Notice the total interest paid is more than the loan amount itself — this is normal for long-tenure loans and is why a shorter tenure, if affordable, usually saves significantly on interest.
Typical interest rate ranges
8–9%
Home loans
9–12%
Car loans
10–16%
Personal loans
16%+
Credit card / unsecured
Frequently asked questions
Does a longer tenure mean a cheaper loan?
No — a longer tenure lowers your monthly EMI but increases the total interest paid over the loan's life, since interest accrues on the outstanding balance for a longer period.
Why does the EMI stay the same but the interest portion change?
Under the reducing-balance method, interest is calculated on the outstanding principal each month. As you repay principal, the outstanding balance shrinks, so a smaller share of each future EMI goes toward interest and a larger share toward principal.
Does this include processing fees?
No — this calculator only estimates the interest-and-principal EMI. Lenders often charge a separate processing fee, typically 0.5–2% of the loan amount, paid upfront.
What happens if I prepay part of the loan?
A part-prepayment reduces your outstanding principal, which either shortens your tenure or lowers your future EMI, depending on what your lender allows — and it reduces the total interest you'd otherwise pay.
Comparing loan offers?
Run each lender's rate and tenure through this calculator to see which one actually costs less overall.
