How is EMI calculated?

The tool uses the standard reducing-balance formula: principal times the monthly rate, multiplied by a compounding factor over the number of months. This matches how Indian banks amortize home and personal loans.

Does the EMI change if interest rates rise later?

The calculator shows a fixed-rate EMI. Floating-rate loans reset when the benchmark moves, so the bank either raises your EMI or extends the tenure. Use this tool to model each rate scenario.

Can I see the total interest over the loan?

Yes. Alongside the EMI, the tool shows total interest and the total amount paid over the full tenure. That total is the number to compare across lenders, not just the monthly payment.

Do my loan details get stored or shared?

No. The calculation runs in your browser and inputs stay on your device. Nothing is sent to a server.

EMI Calculator

Plan any loan — home, car, or personal. See your monthly payment, total interest, and a full month-by-month amortization schedule. 100% client-side.

Loan details

Loan amount (₹)

Interest rate (% / year)

Tenure (years)

Tenure (extra months)

Reducing-balance EMI using the standard monthly-compounding formula — 100% client-side, nothing leaves your browser.

Monthly EMI

₹8,364

for 240 months at 8% p.a.

Total payment

₹20,07,457

Total interest

₹10,07,457

Principal borrowed

₹10,00,000

Principal repaid₹10,00,000 of ₹10,00,000 (100.0%)

Amortization schedule

Month	EMI	Interest	Principal	Balance
1	₹8,364	₹6,667	₹1,698	₹9,98,302
2	₹8,364	₹6,655	₹1,709	₹9,96,593
3	₹8,364	₹6,644	₹1,720	₹9,94,873
4	₹8,364	₹6,632	₹1,732	₹9,93,141
5	₹8,364	₹6,621	₹1,743	₹9,91,397
6	₹8,364	₹6,609	₹1,755	₹9,89,642
7	₹8,364	₹6,598	₹1,767	₹9,87,876
8	₹8,364	₹6,586	₹1,779	₹9,86,097
9	₹8,364	₹6,574	₹1,790	₹9,84,307
10	₹8,364	₹6,562	₹1,802	₹9,82,504
11	₹8,364	₹6,550	₹1,814	₹9,80,690
12	₹8,364	₹6,538	₹1,826	₹9,78,863

Smart Borrowing Checklist

Get a reduced-balance guide to comparing loans — fixed vs floating rates, prepayment strategy, and when zero-interest offers still cost you.

No spam. Unsubscribe anytime.

What problem does this solve?

A loan quote states the interest rate, but not the monthly payment or the total interest over the full term. Borrowers sign before they see the lifetime cost. This tool computes the EMI, total interest, and total payment for any principal, rate, and tenure.

Built for: Home and car loan buyers comparing tenures before signing. Anyone planning a prepayment and wanting to see the interest it saves.

Worked example

Enter a principal of 1,000,000 INR at 8 percent for 20 years, a typical home loan shape.
The tool returns an EMI near 8,360 INR per month.
It shows total interest near 1,010,000 INR, so the loan costs roughly twice the principal.
Shorten the tenure to 15 years and watch the EMI rise modestly while total interest drops by several hundred thousand.
Copy the summary and compare offers from two lenders on the same terms.

Common questions

How is EMI calculated?: The tool uses the standard reducing-balance formula: principal times the monthly rate, multiplied by a compounding factor over the number of months. This matches how Indian banks amortize home and personal loans.
Does the EMI change if interest rates rise later?: The calculator shows a fixed-rate EMI. Floating-rate loans reset when the benchmark moves, so the bank either raises your EMI or extends the tenure. Use this tool to model each rate scenario.
Can I see the total interest over the loan?: Yes. Alongside the EMI, the tool shows total interest and the total amount paid over the full tenure. That total is the number to compare across lenders, not just the monthly payment.
Do my loan details get stored or shared?: No. The calculation runs in your browser and inputs stay on your device. Nothing is sent to a server.

Explore Related Tools

Discover more utility-driven tools designed to enhance your workflow and technical excellence.

SIP Calculator

Project mutual-fund SIP growth or find the monthly amount needed to hit a target corpus.

Personal Finance

Tax Calculator (India)

Compare the new vs old income-tax regime for FY 2025-26 with §87A rebate, marginal relief, and 4% cess.

Personal Finance

GST Calculator (India)

Add or remove Indian GST and compare inclusive and exclusive invoice totals.

Personal Finance