Calculator
EMI calculator
What will the loan really cost you? Drag the sliders — EMI, interest and total update live.
- Principal: ₹25.00 L
- Interest: ₹28.98 L
- Total: ₹53.98 L
- Monthly EMI₹22,493
- Total interest₹28.98 L
- Total payable₹53.98 L
Hover a bar for that year's principal vs interest split. Early EMIs are mostly interest; principal share rises over time.
Reducing-balance EMI. Works for home, car, personal and education loans — only the rate and tenure change.
What this calculator answers
A ₹25,00,000 loan at 9% over 20 years costs ₹22,493 a month, ₹28.98 lakh in interest and ₹53.98 lakh in total. Enter the amount, rate and tenure to see the EMI and the principal-versus-interest split year by year.
How it is calculated
Reducing-balance EMI: EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1), where i is one-twelfth of the annual rate and n is the number of months. The yearly chart amortises the loan month by month, which is why early EMIs are mostly interest.
Only the principal, rate and tenure are inputs — processing fees, insurance and prepayment charges are not included.
Common questions
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is largest at the start. As the balance falls the interest share shrinks and the principal share rises, while the EMI stays the same.
What does prepayment do?
Prepayment reduces the outstanding balance and therefore the interest charged on it. Entering a smaller principal over a shorter tenure is the quick way to see the effect on total interest.
Can the EMI change during the loan?
On a floating-rate loan the EMI or the tenure can be reset when rates change. This calculator assumes one fixed rate for the whole term.
Source & freshness
- Source
- Deterministic formula in lib/calculators.ts
- Timeliness
- Static-verified
- Method
- calculated
- Note
- Illustrative projection from your inputs — not a market quote.