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EMI calculator for home, car and personal loans

Enter the loan amount, interest rate and tenure. You get the monthly EMI, the total interest you will pay, and how the balance falls year by year.

Runs in your browser. The amounts you enter are not sent to or stored by EpiFive, unless you choose to email yourself the summary.

यह पेज हिंदी में पढ़ें: EMI कैलकुलेटर

₹10,00,000 (10 lakh)
Tenure in
Monthly EMI₹8,997
Total interest₹11,59,34253.7% of what you pay
Total amount payable₹21,59,342240 EMIs

■ Principal ₹10,00,000■ Interest ₹11,59,342

Year-by-year repayment schedule

YearPrincipal paidInterest paidBalance left
1₹18,727₹89,240₹9,81,273
2₹20,484₹87,483₹9,60,789
3₹22,405₹85,562₹9,38,384
4₹24,507₹83,460₹9,13,877
5₹26,806₹81,161₹8,87,070
6₹29,321₹78,646₹8,57,750
7₹32,071₹75,896₹8,25,679
8₹35,080₹72,887₹7,90,599
9₹38,370₹69,597₹7,52,229
10₹41,970₹65,997₹7,10,259
11₹45,907₹62,060₹6,64,352
12₹50,213₹57,754₹6,14,139
13₹54,924₹53,044₹5,59,215
14₹60,076₹47,891₹4,99,140
15₹65,711₹42,256₹4,33,428
16₹71,875₹36,092₹3,61,553
17₹78,618₹29,349₹2,82,935
18₹85,993₹21,974₹1,96,942
19₹94,059₹13,908₹1,02,883
20₹1,02,883₹5,084₹0

Year 1 is the first 12 EMIs from your loan start date. Figures are rounded to the rupee; your bank’s schedule can differ by a few rupees.

How to use it

  1. Type the loan amount in rupees. Commas are fine: 10,00,000 works.
  2. Enter the annual interest rate your bank quoted, for example 8.5.
  3. Enter the tenure in years, or switch to months for short loans such as a phone on EMI.
  4. Read the EMI, total interest and the yearly table, which shows how much principal and interest you pay each year and the balance left.

Worked examples

  • Home loan of ₹10,00,000 at 9% for 20 years: EMI ₹8,997, total interest about ₹11,59,342.
  • Personal loan of ₹5,00,000 at 10.5% for 5 years: EMI ₹10,747.
  • At 0% (a no-cost EMI offer), the EMI is simply the price divided by the months; check that the seller has not built the interest into the price.

Ready-made pages with the EMI at every rate from 7.5% to 12%, the yearly schedule, salary needed and prepayment savings. All EMI tables.

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Questions people ask

How is EMI calculated?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. For ₹10,00,000 at 9% for 20 years, r = 0.0075 and n = 240, which gives an EMI of ₹8,997.

Why is most of my early EMI going to interest?

Interest is charged on the outstanding balance, which is highest at the start. In the first year of a 20-year loan at 9%, about 83% of what you pay is interest. As the balance falls, more of each EMI goes to principal.

Does prepaying a loan save interest?

Yes. A part-prepayment reduces the outstanding principal, so every later EMI carries less interest. RBI rules do not allow banks to charge prepayment penalties on floating-rate loans to individuals. Ask your lender whether to reduce the EMI or the tenure; reducing the tenure usually saves more.

Does this EMI include processing fees and insurance?

No. It covers principal and interest only. Processing fees, loan insurance premiums, GST on fees and late-payment charges are extra, so compare the total cost when choosing a lender.

What happens to my EMI when the repo rate changes?

On a floating-rate loan linked to the repo rate, the bank resets your rate at set intervals. Most banks keep the EMI the same and change the tenure; some change the EMI. Re-run this calculator with the new rate and the remaining balance to see the effect.