Calculator
EMI Calculator
Enter the loan amount, the interest rate and the tenure to see your monthly EMI, the total interest you will pay, and how each year’s payments split between interest and principal.
What will your loan EMI be?
Monthly EMI
₹43,391
Total interest
₹54.1 L
Total amount
₹1.04 Cr
Interest makes up 52% of what you repay over 20 years. Prepaying in the early years, when most of each EMI goes to interest, saves the most.
Years
Monthly amortisation table
| No. | Month | EMI | Principal | Interest | Balance |
|---|
The figures presented are strictly for illustrative purposes, based on user-defined assumptions, and do not constitute a forecast or guarantee of future returns. All projections and calculations are powered by our proprietary, in-house Gammasphere Analytics software. Mutual fund investments are subject to market risks; please read all scheme-related documents carefully before investing.
The method
How it works
- 01EMI = P × r × (1 + r) ^ n ÷ ((1 + r) ^ n − 1), where P is the loan, r the monthly interest rate (yearly rate ÷ 12) and n the number of months.
- 02This is the standard reducing-balance method: interest is charged only on the amount still owed.
- 03Early EMIs are mostly interest; the principal share grows over time.
Questions
Asked often
How can I reduce my EMI?
A larger down payment, a longer tenure or a lower interest rate all reduce it. A longer tenure lowers the EMI but raises the total interest you pay.
Does prepaying a loan help?
Prepayments reduce the amount owed, so they cut the total interest. Check your lender’s terms for any prepayment charges first.
How much EMI is affordable?
A common rule of thumb is to keep all EMIs together within about 30–40% of take-home pay, leaving room for saving and emergencies.
Want to talk it through?
Book a free 30-minute call and we’ll look at what fits your goals, with no obligation.