EMI Calculator
Calculate your Equated Monthly Installment with principal vs interest breakdown.
Inputs
Results
Yearly Principal vs Interest
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | ₹39,805 | ₹1,68,473 | ₹19,60,195 |
| 2 | ₹43,323 | ₹1,64,955 | ₹19,16,872 |
| 3 | ₹47,152 | ₹1,61,125 | ₹18,69,720 |
| 4 | ₹51,320 | ₹1,56,957 | ₹18,18,400 |
| 5 | ₹55,856 | ₹1,52,421 | ₹17,62,544 |
| 6 | ₹60,794 | ₹1,47,484 | ₹17,01,750 |
| 7 | ₹66,167 | ₹1,42,110 | ₹16,35,583 |
| 8 | ₹72,016 | ₹1,36,262 | ₹15,63,567 |
| 9 | ₹78,381 | ₹1,29,896 | ₹14,85,186 |
| 10 | ₹85,309 | ₹1,22,968 | ₹13,99,876 |
| 11 | ₹92,850 | ₹1,15,428 | ₹13,07,026 |
| 12 | ₹1,01,057 | ₹1,07,220 | ₹12,05,969 |
| 13 | ₹1,09,990 | ₹98,288 | ₹10,95,980 |
| 14 | ₹1,19,712 | ₹88,566 | ₹9,76,268 |
| 15 | ₹1,30,293 | ₹77,984 | ₹8,45,975 |
| 16 | ₹1,41,810 | ₹66,468 | ₹7,04,165 |
| 17 | ₹1,54,345 | ₹53,933 | ₹5,49,820 |
| 18 | ₹1,67,987 | ₹40,290 | ₹3,81,833 |
| 19 | ₹1,82,836 | ₹25,442 | ₹1,98,997 |
| 20 | ₹1,98,997 | ₹9,281 | ₹0 |
About EMI Calculator
Guide1What is EMI?
An Equated Monthly Instalment (EMI) is a fixed monthly payment made by a borrower to a lender on a specified date each month. EMIs are used to repay both the principal and interest on a loan over a set period, ensuring the loan is fully paid off by the end of the tenure.
EMIs are applicable to home loans, car loans, personal loans, education loans, and most other types of credit in India. The amount remains constant throughout the loan tenure, making it easy to plan your monthly budget.
2EMI Formula
The EMI is calculated using the following formula:
EMI = P × r × (1 + r)^n / [(1 + r)^n - 1]
- P = Principal loan amount
- r = Monthly interest rate (annual rate / 12 / 100)
- n = Loan tenure in months
In the early months, a larger portion of the EMI goes toward interest. As the loan matures, more of the EMI goes toward repaying the principal.
3How to Use This EMI Calculator
- Step 1: Enter the loan amount (e.g., ₹25,00,000 for a home loan)
- Step 2: Input the annual interest rate (e.g., 8.5%)
- Step 3: Set the loan tenure in months or years
- Step 4: View your monthly EMI, total interest payable, and amortization schedule
4Types of Loans and Typical EMI Ranges
- Home Loan: Interest rates typically range from 8-10% p.a., tenures up to 30 years
- Car Loan: Interest rates around 8-12% p.a., tenures of 3-7 years
- Personal Loan: Interest rates from 10-24% p.a., tenures of 1-5 years
- Education Loan: Interest rates around 8-14% p.a., with moratorium period during studies
5Tips to Reduce Your EMI Burden
- Higher Down Payment: Reducing the loan principal directly lowers EMI
- Longer Tenure: Spreads payments over more months, but increases total interest
- Negotiate Interest Rate: Compare offers from multiple banks before finalizing
- Prepayment: Making partial prepayments reduces outstanding principal and future interest
- Balance Transfer: Switch to a bank offering a lower interest rate