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EMI calculator

Work out the monthly EMI for a home, car or personal loan, and see how each payment splits into principal and interest.

Rates as of 11 November 2026

₹

%

Monthly EMI

-

  • Principal-
  • Total interest-
  • Total amount paid-

What you pay each year

PrincipalInterest

Repayment schedule

Estimate only. Results are for planning and learning. They are not tax, legal or financial advice. Rules have conditions this page can not check. Please confirm with a chartered accountant, your bank or the official website before you decide. Rates as of 11 November 2026.

How the EMI is worked out

EMI means equated monthly instalment: the same payment every month until the loan is closed. Banks in India use this formula:

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)

Here P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. For a ₹50,00,000 home loan at 8.5% for 20 years, the EMI is ₹43,391.

In the first years most of each EMI goes to interest. As the balance falls, more of it pays off the principal. The schedule above shows this year by year or month by month.

Tips to pay less interest

  • A shorter tenure means a higher EMI but much less total interest.
  • Part-prepayments early in the loan cut interest the most. Most banks do not charge for prepaying a floating-rate home loan taken by an individual.
  • Compare the yearly rate and the processing fee across lenders.

Questions

Is the EMI the same for the whole loan?

For a fixed rate, yes. For a floating-rate loan the bank changes the rate when its benchmark (usually the RBI repo rate) changes; it then changes the EMI or the tenure.

Does this include processing fees or insurance?

No. It shows only the loan and its interest. Add fees and any loan insurance separately.

Why is my bank's EMI a few rupees different?

Banks round each EMI and may count interest from the exact payout date, so the first and last instalments can differ slightly.

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