Know your EMI before you borrow
An EMI (equated monthly instalment) is the fixed amount you pay every month until a loan is repaid. Enter the loan amount, the yearly interest rate and the tenure, and the calculator shows the EMI instantly along with the total interest, the total amount payable and a split of principal versus interest.
Scroll down for a full repayment schedule — year by year or month by month — showing how each EMI reduces your balance. Add an optional extra payment per month to see how much interest you save and how many months earlier the loan closes.
How to calculate EMI
- 1
Enter the loan amount
Use the box or slider; big amounts are also shown in lakh or crore.
- 2
Set the interest rate
The yearly rate offered by your bank or lender.
- 3
Choose the tenure
In years or months.
- 4
Review the results
EMI, total interest, total payable and the schedule update instantly.
Key features
Instant EMI
Updates as you type or drag the sliders.
Repayment schedule
Yearly and monthly principal, interest and balance.
Prepayment planner
See the effect of paying a little extra every month.
Any currency
₹ with lakh/crore formatting, or $, €, £ and AED.
Common uses
- Home loans: Plan an EMI that fits your monthly budget.
- Car and bike loans: Compare tenures before visiting the dealer.
- Personal and education loans: Check affordability and total cost.
How tenure changes your EMI (₹10 lakh at 9.5%)
| Tenure | EMI | Total interest |
|---|---|---|
| 3 years | ₹32,033 | ₹1,53,188 |
| 5 years | ₹21,002 | ₹2,60,112 |
| 7 years | ₹16,344 | ₹3,72,896 |
| 10 years | ₹12,940 | ₹5,52,800 |
A longer tenure lowers the EMI but increases the total interest considerably.
Tips and good to know
- Banks usually recommend keeping all EMIs under 40–50% of your take-home salary.
- Early EMIs are mostly interest, so prepayments made in the first few years save the most.
- Comparing a flat-rate offer? Use the Loan Calculator to see its real reducing-balance rate.