Tool 07 / Business & Finance
EMI Calculator
Estimate the monthly instalment on a home, vehicle, personal or education loan. You get the EMI, total interest, total repayment and a chart showing how much of the loan is interest.
Reducing balance, as quoted by most lenders.
Loan summary
- Monthly EMI
- ₹26,034.7
- Total interest
- ₹32,48,327.28
- Total payment
- ₹62,48,327.28
- Instalments
- 240 months
- Principal 48.01%
- Interest 51.99%
Formula used and how to read this result
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P = ₹30,00,000 · r = 8.5% ÷ 12 ÷ 100 = 0.007083 per month · n = 240 instalments.
Interest dominates early instalments because the outstanding balance is highest then. The chart shows the lifetime split, not a month-by-month schedule.
Manual
04 stepsHow to use it
- 01Enter the loan amount you plan to borrow.
- 02Add the annual interest rate offered by the lender.
- 03Set the tenure in months or years.
- 04Review the EMI, total interest and repayment chart, then compare scenarios.
Example
What it looks like
- Input
- ₹30,00,000 at 8.5% for 20 years
- Output
- EMI about ₹26,035 · total interest about ₹32,48,000 · total payment about ₹62,48,000
Excludes processing fees, insurance and any rate changes during the loan term.
Method
How it works
The calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
Early instalments are mostly interest because the balance is highest. As the balance falls, the interest portion shrinks and more of each EMI reduces the principal. The chart shows the lifetime split, not a payment schedule.
Floating-rate loans, moratoriums, prepayments and fees all change the real cost, so treat the result as a planning estimate. Ask your lender for an amortisation schedule with the final terms.
FAQ
Before you ask
Specific to emi calculator, including limits and privacy.
Does a longer tenure reduce my EMI?
Yes, a longer tenure spreads repayment over more instalments, lowering the EMI. The trade-off is that you pay interest for longer, so the total interest usually increases.
What is the difference between flat and reducing interest?
Flat interest is calculated on the original principal for the whole term, which costs more. Banks normally use reducing balance, which this calculator models.
Can I see prepayment savings?
Not yet. Prepayment modelling is on the roadmap. As a rule of thumb, an extra payment early in the loan saves more interest than the same amount later.
How accurate is the result?
The arithmetic matches the standard formula to the paisa. Your bank's EMI may differ slightly due to rounding conventions, processing fees, insurance or a changing floating rate.
Privacy
Loan figures are calculated locally and are not saved or shared.
Read the privacy policy for data retention, analytics and contact details.
Limits
This is an estimate, not a loan offer or financial advice. Lenders apply their own rounding, charges and rate-change rules; confirm figures with them before committing.
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