🏦 EMI Calculator

Calculate your monthly loan EMI instantly. Home loan, car loan, or personal loan — see the full breakdown.

Enter Loan Details

Loan Amount ₹30,00,000

₹1L₹1Cr

Interest Rate (per annum) 8.5%

5%30%

Loan Tenure 20 Yrs

1 Yr30 Yrs

Monthly EMI

₹26,035

per month

Total Interest

₹32,48,371

over loan period

Total Amount

₹62,48,371

principal + interest

Interest

52%

Principal Amount

₹30,00,000

Total Interest

₹32,48,371

Total Payable

₹62,48,371

📅 Year-wise Amortisation Schedule

Year	EMI Paid	Principal	Interest	Balance

💡 Smart Loan Tips

✅A lower interest rate saves far more than a lower EMI — always compare rates across lenders before finalising.

✅Shorter tenure = higher EMI but significantly less total interest paid. If affordable, choose fewer years.

✅Make part prepayments whenever possible — even one extra EMI per year reduces tenure by months.

✅Maintain a CIBIL score above 750 to qualify for the lowest interest rates from banks and NBFCs.

FAQ

Frequently Asked Questions

EMI (Equated Monthly Instalment) is the fixed amount you pay to the lender every month to repay your loan. Each EMI has two components — principal repayment and interest. In early months, the interest portion is higher; it reduces over time as the principal decreases.

EMI = [P × r × (1+r)^n] / [(1+r)^n – 1], where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), and n = number of monthly instalments. This calculator uses the same standard formula used by all banks in India.

Ideally your total EMIs (all loans combined) should not exceed 40–50% of your net monthly income. Most banks use this ratio (called FOIR — Fixed Obligation to Income Ratio) to decide how much loan to sanction.

When you make a part prepayment, most banks give you the option to either reduce your EMI amount (keeping the same tenure) or reduce the remaining tenure (keeping the same EMI). Reducing tenure saves more interest overall.

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