EMI Calculator
Compute monthly EMI for any loan amount, interest rate and tenure. Includes amortization table and a cumulative principal/interest chart.
How to use
Enter your loan amount, annual interest rate and tenure in years. Click Calculate EMI to view the monthly payment amount, total interest payable and a full amortization breakdown. Use the CSV button to export the schedule for record keeping.
Read your EMI the way a lender does
The monthly figure is the part everyone fixates on, but it's the least interesting number on the page. What actually decides whether a loan is a good deal is the total interest you'll hand over by the end — and that's hidden inside the schedule below the EMI. Two loans with nearly identical monthly payments can differ by lakhs once you add up every instalment.
One quirk worth knowing: in the early years almost all of your payment is interest, and barely any chips away at what you borrowed. That balance only flips toward the end. It's the reason prepaying in year two saves so much more than prepaying in year fifteen.
Tenure is the lever you control
The loan amount is fixed by what you're buying and the rate is mostly set by the market, which leaves tenure as your real dial. Stretch it and the EMI drops but the interest balloons; shorten it and you pay less overall but feel the squeeze each month. Try a few combinations here until the monthly figure fits your budget without quietly costing you a fortune. If you want the full breakdown of the maths, we've written it up in The EMI Formula, Demystified.
Frequently Asked Questions
Does prepaying a loan reduce my EMI?
Yes. When you make a part-prepayment, the outstanding principal reduces. You can either keep the same tenure and lower your EMI, or keep the same EMI and reduce your tenure — saving significant interest either way.
What is the difference between flat rate and reducing balance EMI?
In a flat rate loan, interest is charged on the original principal throughout. In a reducing balance loan (most bank loans), interest is charged only on the outstanding balance, making the effective interest lower. Our calculator uses the reducing balance method.
Is the EMI fixed for the entire loan tenure?
For fixed-rate loans, yes — the EMI stays the same every month. For floating-rate loans, the EMI can change when the RBI repo rate changes, which affects your bank's base rate.
What is an amortization table?
An amortization table shows the break-up of each EMI payment — how much goes towards interest and how much reduces the principal. In the early months, most of the EMI goes to interest. Towards the end, most goes to principal repayment.
Can I use this for a home loan EMI calculation?
Absolutely. Enter the home loan amount (e.g. ₹50,00,000), the interest rate (e.g. 8.5%), and the tenure (e.g. 20 years) to instantly see your monthly home loan EMI and total payment over the loan period.