Loan Amount (Rs)
50,00010 Crore
Interest Rate (% per annum)
420
Loan Tenure (Years)
130
Principal Amount Total Interest
Monthly EMI
Rs. 0
Total Interest Payable
Rs. 0
Total Payment (Principal + Interest)
Rs. 0
What is an EMI Calculator?
EMI stands for Equated Monthly Instalment — the fixed amount you pay every month toward a loan (home loan, car loan, personal loan, etc.) until it’s fully repaid. Each EMI is a mix of principal repayment and interest, with the interest portion being higher in early months and gradually decreasing over the loan tenure.
This calculator shows your fixed monthly EMI, the total interest you’ll pay over the life of the loan, and the total amount you’ll end up paying back — helping you understand the true cost of borrowing before you commit.
How the EMI is Calculated
EMI = [ P × r × (1 + r)n ] / [ (1 + r)n − 1 ]
P Loan amount (principal)
r Monthly interest rate (annual rate ÷ 12)
n Total number of monthly instalments (years × 12)
Note: This calculation assumes a fixed interest rate throughout the tenure. If your loan has a floating interest rate, your actual EMI may change whenever the bank revises its lending rate.
Example: A loan of Rs. 20,00,000 at 8.5% per annum over 20 years results in a monthly EMI of approximately Rs. 17,356, with total interest payable of about Rs. 21,65,552 over the loan’s lifetime.
Frequently Asked Questions
What is an EMI calculator?
It estimates the fixed monthly installment required to repay any loan, based on the principal, interest rate, and tenure.
How is EMI calculated?
EMI = [P x r x (1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the number of months.
What is the difference between reducing balance and flat interest rate?
Reducing balance calculates interest only on the outstanding principal each month, so interest decreases over time. A flat rate calculates interest on the full original principal throughout, resulting in a higher effective rate. This calculator uses the reducing balance method, standard for most loans in India.
How does prepayment affect EMI?
Prepaying part of the loan reduces the outstanding principal, which can either lower future EMIs or shorten the loan tenure, depending on what your lender allows.
Is the EMI shown here exact?
It's an estimate; the actual EMI may include processing fees or other charges not reflected in this calculation.