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EMI calculator
Work out the monthly EMI for a personal, home, business or car loan — with a year-by-year repayment schedule.
Your loan
Full scheduleYour monthly EMI
₹0
- Principal
- –
- Interest
- –
- Total payable
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Indicative figures. Final rate depends on the lender and your profile.
How to use the EMI calculator
- Pick the loan type to load typical rates and limits.
- Enter or slide the loan amount, interest rate and tenure.
- Your EMI, total interest and total payable update instantly.
- Scroll down for the year-by-year schedule, or apply with the same numbers.
Shorter tenures and prepayments cut the total interest sharply. Try the prepayment calculator to see how much you could save.
Repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
How is EMI calculated?
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.
Does a longer tenure reduce EMI?
Yes, a longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Is the EMI the same every month?
For a fixed-rate loan, yes. For floating-rate loans the EMI or tenure can change when the lender revises its benchmark rate.
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay, more of each EMI goes towards the principal.