Loan repayment
Enter your loan details to see the monthly instalment and the full cost of borrowing.
Monthly payment
₹8,997
over 240 months
This is the standard reducing-balance EMI. A lender's actual figure may differ slightly due to processing fees, rounding, or day-count conventions.
An EMI calculator helps you compute your monthly loan instalment (EMI) based on loan amount, interest rate, and tenure. Whether you're planning a home purchase, car loan, or personal borrowing, this tool shows exactly how much you'll pay each month and how much interest accumulates over the loan term.
EMI stands for Equated Monthly Instalment—a fixed amount you pay every month towards repaying a loan. Unlike irregular payments, EMI spreads the principal and interest evenly across the loan tenure, so you know precisely what's due each month. The EMI changes based on three factors: how much you borrow, the annual interest rate lenders charge, and how many months (or years) you have to repay.
The calculator multiplies your loan amount by a standard financial formula that accounts for the interest rate and time period. For each month, the formula allocates more of your early payments toward interest and more of your later payments toward principal reduction. By the final instalment, the balance reaches zero. The tool instantly splits your total repayment into monthly instalments and shows cumulative interest paid.
EMI = [P × r × (1 + r)^n] / [(1 + r)^n − 1]P = principal loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total number of monthly instalments (years × 12).
| Input | Result | Notes |
|---|---|---|
| Loan: ₹25,00,000 | Rate: 7% p.a. | Tenure: 20 years | EMI: ₹17,583 | Total Interest: ₹27,59,760 | Total Paid: ₹52,59,760 | Home loan scenario—over 20 years, you pay nearly as much in interest as the original loan amount |
| Loan: ₹5,00,000 | Rate: 10% p.a. | Tenure: 5 years | EMI: ₹10,614 | Total Interest: ₹1,36,840 | Total Paid: ₹6,36,840 | Car loan example—shorter tenure means less total interest but higher monthly commitment |
| Loan: ₹1,50,000 | Rate: 12% p.a. | Tenure: 3 years | EMI: ₹4,743 | Total Interest: ₹20,948 | Total Paid: ₹1,70,948 | Personal loan scenario—compact tenure keeps interest cost lower than longer-term borrowing |
EMI is your fixed monthly payment. Loan repayment includes the full process of paying back principal plus interest over time. Each EMI instalment is part of your total repayment schedule.
Yes. Most lenders allow extra payments or prepayment without penalty. Paying more than the EMI reduces your principal faster, shrinking total interest paid and shortening the loan term.
The EMI formula front-loads interest. As you pay down the principal, the interest portion of each instalment decreases and the principal portion grows, so later payments retire more of the original loan amount.
Late payment penalties and additional interest charges apply. Your credit score also suffers, making future loans more expensive or difficult to obtain. Always prioritise EMI due dates.
Lower your EMI by extending the tenure (pay longer), negotiating a lower interest rate with your lender, or increasing your down payment so you borrow less principal.
The formula is accurate, but your actual EMI may vary slightly due to rounding, processing fees, or variable interest rates. Always confirm with your lender's official quote.