Loan & EMI Planning
EMI / Loan Calculator
Calculate your monthly loan installment (EMI), total interest payable, and total repayment for any car loan, home loan, or personal loan — instantly, with a full breakdown.
Calculate Your EMI
All Currencies
Rs
%
Years
Rs
Processing fees or other one-time charges — used to calculate your true effective rate (APR)
Your Monthly EMI
Rs 0
per month
Rs 0
Principal
Rs 0
Total Interest
0%
Loan APR
Rs 0
Total Payment (Principal + Interest + Fees)
Principal 0%
Interest 0%
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
01How to Use This Calculator
- Enter the loan amount you plan to borrow (principal)
- Enter the annual interest rate your bank/lender quoted
- Enter the loan tenure in years or months
- Click "Calculate EMI" to see your monthly installment, total interest, and a year-by-year payoff schedule
02Formula & Method
EMI is calculated using the standard reducing-balance formula used by banks worldwide:
| Symbol | Meaning |
|---|---|
| EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ − 1] | The core formula |
| P | Principal loan amount |
| r | Monthly interest rate (annual rate ÷ 12 ÷ 100) |
| n | Total number of monthly installments |
03Real-World Examples
Example 1
Car Loan
Loan: Rs 2,000,000 · Rate: 21%/year · Tenure: 5 years
Monthly EMI: Rs 54,107
Total Interest: Rs 1,246,403
Monthly EMI: Rs 54,107
Total Interest: Rs 1,246,403
Example 2
Home Loan
Loan: Rs 10,000,000 · Rate: 18%/year · Tenure: 15 years
Monthly EMI: Rs 161,042
Total Interest: Rs 18,987,579
Monthly EMI: Rs 161,042
Total Interest: Rs 18,987,579
Example 3
Personal Loan
Loan: Rs 500,000 · Rate: 24%/year · Tenure: 3 years
Monthly EMI: Rs 19,616
Total Interest: Rs 206,191
Monthly EMI: Rs 19,616
Total Interest: Rs 206,191
Example 4
Motorbike Loan
Loan: Rs 200,000 · Rate: 20%/year · Tenure: 2 years
Monthly EMI: Rs 10,179
Total Interest: Rs 44,300
Monthly EMI: Rs 10,179
Total Interest: Rs 44,300
04Frequently Asked Questions
What is EMI? ▼
EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan, covering both principal and interest, until the loan is fully paid off.
Why is more interest paid in the early months? ▼
Interest is calculated on the outstanding balance each month. Early on, your balance is highest, so more of each EMI goes toward interest. As the balance shrinks, more goes toward principal.
Does a longer tenure reduce my EMI? ▼
Yes, a longer tenure lowers your monthly EMI, but you'll pay significantly more total interest over the life of the loan. A shorter tenure means higher EMI but less total interest.
Can I prepay my loan to reduce interest? ▼
Most lenders allow partial or full prepayment, which reduces your outstanding principal and therefore future interest — though some charge a prepayment penalty. Check your loan agreement.
Is this calculator accurate for Islamic (Shariah-compliant) financing? ▼
This tool models conventional interest-based EMI. Islamic financing (Murabaha, Ijarah, Diminishing Musharakah) uses different profit-calculation structures, so actual installments may differ — check with your Islamic bank for exact figures.
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