EMI Calculator
Monthly EMI, total interest, and the full month-by-month amortization schedule for any loan.
Add an extra monthly payment to see how much faster the loan closes and how much interest it saves — reflected instantly in the chart and schedule.
Principal vs Interest, year by year
Hover or tap a year to see the exact principal / interest / balance split. Grouped by year — expand a year in the table below for the month-by-month breakdown.
Amortization Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Extra Paid | Closing Balance |
|---|---|---|---|---|---|
| ▾ Year 1 | ₹25,00,000 | ₹49,756 | ₹2,10,591 | — | ₹24,50,244 |
| Month 1 | ₹25,00,000 | ₹3,987 | ₹17,708 | — | ₹24,96,013 |
| Month 2 | ₹24,96,013 | ₹4,015 | ₹17,680 | — | ₹24,91,997 |
| Month 3 | ₹24,91,997 | ₹4,044 | ₹17,652 | — | ₹24,87,953 |
| Month 4 | ₹24,87,953 | ₹4,073 | ₹17,623 | — | ₹24,83,881 |
| Month 5 | ₹24,83,881 | ₹4,101 | ₹17,594 | — | ₹24,79,779 |
| Month 6 | ₹24,79,779 | ₹4,130 | ₹17,565 | — | ₹24,75,649 |
| Month 7 | ₹24,75,649 | ₹4,160 | ₹17,536 | — | ₹24,71,489 |
| Month 8 | ₹24,71,489 | ₹4,189 | ₹17,506 | — | ₹24,67,300 |
| Month 9 | ₹24,67,300 | ₹4,219 | ₹17,477 | — | ₹24,63,081 |
| Month 10 | ₹24,63,081 | ₹4,249 | ₹17,447 | — | ₹24,58,832 |
| Month 11 | ₹24,58,832 | ₹4,279 | ₹17,417 | — | ₹24,54,553 |
| Month 12 | ₹24,54,553 | ₹4,309 | ₹17,386 | — | ₹24,50,244 |
| ▸ Year 2 | ₹24,50,244 | ₹54,154 | ₹2,06,193 | — | ₹23,96,091 |
| ▸ Year 3 | ₹23,96,091 | ₹58,940 | ₹2,01,407 | — | ₹23,37,150 |
| ▸ Year 4 | ₹23,37,150 | ₹64,150 | ₹1,96,197 | — | ₹22,73,000 |
| ▸ Year 5 | ₹22,73,000 | ₹69,820 | ₹1,90,527 | — | ₹22,03,180 |
| ▸ Year 6 | ₹22,03,180 | ₹75,992 | ₹1,84,355 | — | ₹21,27,188 |
| ▸ Year 7 | ₹21,27,188 | ₹82,709 | ₹1,77,638 | — | ₹20,44,479 |
| ▸ Year 8 | ₹20,44,479 | ₹90,020 | ₹1,70,327 | — | ₹19,54,459 |
| ▸ Year 9 | ₹19,54,459 | ₹97,977 | ₹1,62,370 | — | ₹18,56,482 |
| ▸ Year 10 | ₹18,56,482 | ₹1,06,637 | ₹1,53,710 | — | ₹17,49,846 |
| ▸ Year 11 | ₹17,49,846 | ₹1,16,063 | ₹1,44,284 | — | ₹16,33,783 |
| ▸ Year 12 | ₹16,33,783 | ₹1,26,321 | ₹1,34,026 | — | ₹15,07,462 |
| ▸ Year 13 | ₹15,07,462 | ₹1,37,487 | ₹1,22,860 | — | ₹13,69,974 |
| ▸ Year 14 | ₹13,69,974 | ₹1,49,640 | ₹1,10,707 | — | ₹12,20,335 |
| ▸ Year 15 | ₹12,20,335 | ₹1,62,866 | ₹97,480 | — | ₹10,57,468 |
| ▸ Year 16 | ₹10,57,468 | ₹1,77,262 | ₹83,085 | — | ₹8,80,206 |
| ▸ Year 17 | ₹8,80,206 | ₹1,92,931 | ₹67,416 | — | ₹6,87,275 |
| ▸ Year 18 | ₹6,87,275 | ₹2,09,984 | ₹50,363 | — | ₹4,77,291 |
| ▸ Year 19 | ₹4,77,291 | ₹2,28,545 | ₹31,802 | — | ₹2,48,746 |
| ▸ Year 20 | ₹2,48,746 | ₹2,48,746 | ₹11,601 | — | ₹0 |
How EMI is actually calculated
Your EMI (Equated Monthly Installment) is calculated using the reducing-balance formula banks use in India: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and nis the tenure in months. Every EMI you pay is split into two parts: interest on the outstanding balance, and principal repayment. Early in the loan, most of your EMI goes toward interest, because the outstanding balance is largest then — this is exactly why prepaying early in a loan’s life saves far more interest than prepaying near the end, even for the same rupee amount.
Worked example
A ₹25,00,000 home loan at 8.5% p.a. for 20 years works out to an EMI of about ₹21,696. Over the full tenure, you’d pay roughly ₹27,06,939 in interest alone — more than the loan amount itself, which is normal for a long-tenure loan and exactly why the extra-payment slider above is worth experimenting with.
Common mistakes
- Comparing loans by EMI alone. A lower EMI over a longer tenure can mean paying far more total interest. Always compare total interest, not just the monthly figure.
- Ignoring processing fees and other charges.This calculator shows the pure interest cost; banks typically add a processing fee (often 0.5%–2% of the loan) on top, which isn’t part of the EMI itself.
- Assuming the interest rate stays fixed.Most Indian home and personal loans are on floating rates tied to the repo rate — your EMI or tenure can change when rates move. Treat this as an estimate at today’s rate, not a lifetime guarantee.