EMI Calculator
Calculate loan EMI, total interest and a full amortisation schedule.
21,696
Monthly EMI
2,706,939
Total interest
5,206,939
Total payable
Yearly amortisation
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 49,756 | 210,591 | 2,450,244 |
| 2 | 54,154 | 206,193 | 2,396,091 |
| 3 | 58,940 | 201,407 | 2,337,150 |
| 4 | 64,150 | 196,197 | 2,273,000 |
| 5 | 69,820 | 190,527 | 2,203,180 |
| 6 | 75,992 | 184,355 | 2,127,188 |
| 7 | 82,709 | 177,638 | 2,044,479 |
| 8 | 90,020 | 170,327 | 1,954,459 |
| 9 | 97,977 | 162,370 | 1,856,482 |
| 10 | 106,637 | 153,710 | 1,749,846 |
| 11 | 116,063 | 144,284 | 1,633,783 |
| 12 | 126,321 | 134,026 | 1,507,462 |
| 13 | 137,487 | 122,860 | 1,369,974 |
| 14 | 149,640 | 110,707 | 1,220,335 |
| 15 | 162,866 | 97,480 | 1,057,468 |
| 16 | 177,262 | 83,085 | 880,206 |
| 17 | 192,931 | 67,416 | 687,275 |
| 18 | 209,984 | 50,363 | 477,291 |
| 19 | 228,545 | 31,802 | 248,746 |
| 20 | 248,746 | 11,601 | 0 |
About EMI Calculator
An equated monthly instalment keeps your payment constant across the loan while the split between interest and principal shifts steadily towards principal.
This calculator gives you the monthly instalment, the total interest paid over the term and a year-by-year amortisation schedule, so you can see exactly what a longer tenure or a slightly better rate is worth.
The EMI formula
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments.
How EMI Calculator works in your browser
The instalment comes from the standard annuity formula: principal × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the annual rate divided by twelve and n is the tenure in months. The same figure is then replayed month by month to build the amortisation schedule, charging interest on the outstanding balance and applying the rest of the instalment to principal.
Because the arithmetic runs in your browser, you can change the rate or tenure and watch the total interest move immediately. The result is the pure loan repayment — processing fees, insurance and taxes that a lender adds on top are not included and should be checked separately.
When to use it
- Comparing a 15-year and a 20-year home loan to see what the lower instalment really costs in total interest.
- Checking how much a 0.5% better rate is worth before negotiating with a lender.
- Seeing how slowly principal falls in the early years of a long loan.
- Budgeting a car or personal loan without sharing your figures with a lead-generation site.
Frequently asked questions
How is home loan EMI calculated?
With the annuity formula: P x r x (1+r)^n / ((1+r)^n - 1), where r is the annual rate divided by 12 and n is the tenure in months. The same formula applies to car and personal loans.
Does a longer tenure reduce the cost?
It reduces the monthly instalment but increases total interest, because interest accrues on the outstanding balance for longer. The schedule shows both figures so you can compare.
What formula is used?
The standard annuity formula: P times r times (1+r)^n divided by ((1+r)^n minus 1), where r is the monthly rate and n the number of months.
Why does early EMI go mostly to interest?
Interest is charged on the outstanding balance, which is highest at the start. The principal share grows every month as the balance falls.
Does this include fees or insurance?
No. It calculates the pure loan repayment. Processing fees, insurance and taxes are additional.