RecoveryPro

EMI Calculator

Work out the monthly EMI for any loan — home, personal, car, two-wheeler or business — and see how much of every instalment goes to interest. Download the full repayment schedule as Excel or PDF.

लोन की EMI कितनी बनेगी? लोन राशि, ब्याज दर और अवधि डालें — EMI और पूरा शेड्यूल तुरंत देखें।

For education and quick estimates only. Banks and NBFCs use their own rules, rounding and charges, so confirm the exact figures with the lender. Nothing you type here is saved to the server.

Loan details

₹10,00,000

% p.a.

Monthly EMI

₹9,650.22

Total interest

₹13,16,052

56.8% of all payments

Total payment

₹23,16,052

240 months (20 years)

Where your money goes

Principal ₹10,00,000Interest ₹13,16,052

Month 1: ₹8,333.33 of the EMI is interest and only ₹1,316.88 reduces the loan. Early EMIs are mostly interest, so part-prepayments early in the loan save the most.

Repayment schedule

YearPaidInterestPrincipalBalance
1₹1,15,803₹99,255₹16,547₹9,83,453
2₹1,15,803₹97,522₹18,280₹9,65,173
3₹1,15,803₹95,608₹20,194₹9,44,978
4₹1,15,803₹93,494₹22,309₹9,22,669
5₹1,15,803₹91,158₹24,645₹8,98,024
6₹1,15,803₹88,577₹27,226₹8,70,799
7₹1,15,803₹85,726₹30,076₹8,40,722
8₹1,15,803₹82,577₹33,226₹8,07,497
9₹1,15,803₹79,098₹36,705₹7,70,792
10₹1,15,803₹75,254₹40,548₹7,30,243
11₹1,15,803₹71,008₹44,794₹6,85,449
12₹1,15,803₹66,318₹49,485₹6,35,964
13₹1,15,803₹61,136₹54,667₹5,81,297
14₹1,15,803₹55,412₹60,391₹5,20,906
15₹1,15,803₹49,088₹66,715₹4,54,191
16₹1,15,803₹42,102₹73,701₹3,80,490
17₹1,15,803₹34,384₹81,418₹2,99,072
18₹1,15,803₹25,859₹89,944₹2,09,128
19₹1,15,803₹16,441₹99,362₹1,09,766
20₹1,15,803₹6,036₹1,09,766₹0

How EMI is worked out

EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan, r is the yearly rate ÷ 12 ÷ 100 and n is the number of months. Each month, interest is charged on the balance still owed; the rest of the EMI reduces the loan (reducing-balance method). Flat-rate loans charge interest on the original amount for the whole tenure, so their true cost is much higher than the quoted rate.

How EMI is calculated

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the yearly interest rate ÷ 12 ÷ 100, and n is the number of monthly instalments.

Each month, interest is charged on the balance still owed, and the rest of the EMI reduces the loan. This is the reducing-balance method used by banks and NBFCs for most loans.

Example: a loan of ₹10,00,000 at 10% a year for 20 years has an EMI of ₹9,650.22. Over 240 months you pay ₹13,16,052 as interest — more than the loan itself. The same loan over 5 years has an EMI of ₹21,247.04, but far less total interest.

How to pay less interest

  • A longer tenure lowers the EMI but raises the total interest. Pick the shortest tenure whose EMI you can comfortably pay.
  • Part-prepayments made early in the loan save the most, because early EMIs are mostly interest.
  • Compare the interest rate and processing fee across lenders before you sign.
  • A "flat rate" loan charges interest on the original amount for the whole tenure, so its real cost is much higher than the quoted rate.

Common questions

EMI kaise calculate hota hai? (How is EMI calculated?)

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan, r is the monthly interest rate and n is the number of months. The calculator above does this for you and shows the full schedule.

₹10 lakh loan ki EMI kitni hogi?

At 10% a year, a ₹10 lakh loan has an EMI of about ₹21,247 for 5 years or about ₹9,650 for 20 years. Change the rate and tenure above to see your own figure.

Does prepayment reduce the EMI or the tenure?

It depends on the lender. Many reduce the tenure and keep the EMI the same unless you ask them to reduce the EMI instead. Either way, you pay less interest.

Is this EMI exactly what my bank will charge?

It is very close, but banks may round differently, charge broken-period interest for the first month, or add fees. Confirm the final EMI with your lender.

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