Calculate EMI for home loan, car loan, or personal loan in seconds. See full amortization schedule, total interest payable, and tips to reduce your burden.
Select loan type, then adjust values
Quick Presets
Principal vs Interest Breakup
Your EMI Breakdown
Monthly EMI 📅
₹17,356
Principal Amount
₹20,00,000
Total Interest Payable
₹21,65,280
Total Amount Payable
₹41,65,280
Interest share
52%
of total payable amount
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| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|
An Equated Monthly Installment (EMI) is the fixed amount you pay your lender every month until the loan is fully repaid. Each payment is split between two parts: a portion that reduces the outstanding principal, and a portion that pays the interest charged for that month.
In the early months of a loan, most of your EMI goes toward interest. As you repay, the interest component shrinks and the principal component grows — this is called an amortizing loan, and you can see this in the amortization table above.
The EMI Formula (RBI Standard)
EMI = P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1)
This is the standard formula mandated by RBI and used by all scheduled banks in India.
Make a larger down payment
A 30% down payment vs 10% on a ₹1Cr home loan saves you ~₹8,200/month in EMI. The less you borrow, the less you pay.
Negotiate a lower interest rate
Even 0.5% less on a ₹50L home loan over 20 years saves ₹3.5L+ in interest. Compare banks using our calculator.
Choose a longer tenure (carefully)
Extending from 15 to 20 years reduces monthly EMI but significantly increases total interest. Use our calculator to find the balance.
Prepay your loan when possible
Even one extra EMI per year drastically reduces your total interest and can shorten a 20-year loan by 3–4 years.
Improve your CIBIL score first
A CIBIL score above 750 qualifies you for the lowest interest rates. Pay existing EMIs on time and clear credit card dues before applying.
| Loan Type | Typical Rate Range | Max Tenure | Use Calculator With |
|---|---|---|---|
| 🏠 Home Loan | 8.35% – 10.5% | 30 years | 8.5% / 20 yrs |
| 🚗 Car Loan | 8.75% – 13% | 7 years | 9.5% / 5 yrs |
| 👤 Personal Loan | 10.5% – 24% | 5 years | 14% / 3 yrs |
| 🎓 Education Loan | 7.5% – 15% | 15 years | 9% / 10 yrs |
Rahul takes a ₹50 lakh home loan at 8.5% p.a. for 20 years. He's surprised to learn that by the end, he'll have paid nearly double the loan amount.
Monthly EMI
₹43,391
Total Interest
₹54.1L
Total Paid
₹1.04 Cr
*Based on flat interest calculation. Actual may vary slightly by bank.
Everything you need to know about EMI, loan repayment, and this calculator.