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Loan EMI Calculator

Work out the monthly instalment on any loan, see how much of the total is interest, and download the full month-by-month repayment schedule.

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How to use EMI Calculator — Loan EMI, Interest & Schedule

  1. 1Enter the loan amount, the annual interest rate and the tenure.
  2. 2Adjust the sliders to see the result update instantly.
  3. 3Read the monthly instalment, the total interest, and open the month-by-month schedule.

About EMI Calculator

An EMI stays the same every month, but what it is doing changes completely over the life of the loan. Interest is charged on whatever principal is still outstanding, so at the start the instalment is nearly all interest and barely dents the balance. On a ₹10,00,000 loan at 9% over 20 years, month one puts ₹7,500 towards interest and ₹1,497 towards principal; the last month is the mirror image, ₹67 interest against ₹8,930 of principal. Over the whole term the interest adds up to ₹11,59,342 — about 54% of everything you pay.

That arithmetic is why the tenure slider matters more than most borrowers expect. Stretching a loan out lowers the monthly figure, which is what makes an unaffordable purchase feel affordable, but it also keeps a large balance outstanding for longer and interest accrues on all of it. Shortening the same loan from 20 years to 15 costs about ₹1,145 more each month and saves roughly ₹3.34 lakh in interest. Move the sliders and watch the principal-versus-interest bar shift — it is the quickest way to see what a decision about tenure is really buying.

What the calculator cannot know is everything outside the three inputs: processing fees, GST on those fees, bundled insurance, prepayment charges, and a floating rate that will move. It also assumes a clean monthly reducing-balance cycle, while some lenders use a slightly different day-count or round each instalment to the rupee. Treat the EMI here as the right way to compare two offers on equal terms, and the sanctioned letter as the authority on what leaves your account.

The downloadable schedule is worth keeping if you plan to prepay. It shows exactly how much principal is outstanding in any given month, which is the number a lump-sum prepayment attacks — and because interest is charged on that balance, the earlier the prepayment lands, the more of the remaining interest disappears with it.

Frequently asked questions

How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, n is the number of months and r is the monthly rate — the annual rate divided by 12 and by 100. A ₹10,00,000 loan at 9% over 240 months works out to an EMI of ₹8,997.26. A zero-interest loan is the exception: it is simply the principal divided by the number of months.
Why is almost all of my early EMI interest?
Interest is charged on the balance still outstanding, which is highest at the start. In the ₹10,00,000 at 9% for 20 years example, the first instalment is ₹7,500 interest and only ₹1,497 principal; by the last instalment it is ₹67 interest and ₹8,930 principal. Open the schedule table and you can watch the crossover happen.
How much does a shorter tenure actually save?
For that same ₹10,00,000 at 9%, cutting the term from 20 years to 15 raises the EMI from ₹8,997.26 to ₹10,142.67 — about ₹1,145 more a month — but total interest falls from ₹11,59,342 to ₹8,25,680. That is roughly ₹3,33,662 less interest for the same borrowing.
Does this include processing fees, insurance or GST?
No. It calculates the instalment on the principal, rate and tenure you enter and nothing else. Lenders commonly add a processing fee, GST on that fee, and sometimes a bundled insurance premium, so the amount actually debited and the effective cost of the loan can both be higher than shown here.
What if my loan is on a floating rate?
The calculator assumes the rate you enter holds for the whole tenure, which a floating-rate loan will not. Use it to see where you stand today, then re-run it with the new rate whenever your lender resets — most lenders keep the EMI and extend the tenure instead, or the other way round, so check which one they changed.
Can I download the repayment schedule?
Yes. The schedule table has copy-CSV and download-CSV buttons and gives opening balance, instalment, interest, principal and closing balance for every month. The final instalment differs from the rest by a few units by design: it absorbs the accumulated rounding so the balance lands exactly on zero.