What is my loan EMI?
Find the EMI on a home, car, or personal loan in rupees, how much of what you repay is interest, and how each instalment splits between principal and interest.
- Your EMI (₹)
- 21,696
A loan of ₹2,500,000 at 8.5% for 240 months has an EMI of ₹21,696 and total interest of ₹2,706,939.
- Total interest (₹)
- 2,706,939
- Total payment (₹)
- 5,206,939
- Principal (₹)
- 2,500,000
- Interest share of the total
- 52%
- Number of EMIs
- 240
- Months
- 240
Your EMI (₹): 21,696. A loan of ₹2,500,000 at 8.5% for 240 months has an EMI of ₹21,696 and total interest of ₹2,706,939.
How much of what you repay is interest?
Where does each year of EMIs go?
What does every EMI look like?
The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use
How to calculate
Computes the EMI (equated monthly instalment) of a home, car, or personal loan in rupees, with the total interest and the month-by-month repayment schedule.
Example with the default inputs (Loan amount (₹) 2,500,000, Interest rate a year 8.5%, Tenure (years) 20, and months 0): A loan of ₹2,500,000 at 8.5% for 240 months has an EMI of ₹21,696 and total interest of ₹2,706,939.
Method: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = yearly rate ÷ 1200 and n = tenure in months.
- Interest is on the reducing balance: each month it is the balance × the yearly rate ÷ 12.
- The rate is fixed for the whole tenure and every EMI is paid at the end of the month.
- Processing fees, insurance, and prepayments are not included.
- Values are not rounded between months; the page shows rupees rounded to the nearest rupee.
Worked examples
Each example is checked against the calculator on every build.
- Loan amount (₹) 2,500,000, Interest rate a year 8.5%, Tenure (years) 20, and months 0 gives Your EMI (₹) 21,695.580834, Total interest (₹) 2,706,939.400193, Interest share of the total 51.98715%, Number of EMIs 240.Source: Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/
- Loan amount (₹) 100,000, Interest rate a year 12%, Tenure (years) 1, and months 0 gives Your EMI (₹) 8,884.878868, Total interest (₹) 6,618.546414, Total payment (₹) 106,618.546414.Source: Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/
- Loan amount (₹) 600,000, Interest rate a year 0%, Tenure (years) 4, and months 6 gives Your EMI (₹) 11,111.111111, Total interest (₹) 0, Number of EMIs 54.Source: Consumer Financial Protection Bureau, What is amortization and how could it affect my auto loan? https://www.consumerfinance.gov/ask-cfpb/what-is-amortization-and-how-could-it-affect-my-auto-loan-en-771/
How it works
Write P for the loan amount in rupees, r for the monthly rate (the yearly rate in percent ÷ 1200), and n for the tenure in months: years × 12 + months. There is no answer when the tenure is 0 months.
- EMI: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). At 0% it is P ÷ n.
- Schedule: each month, interest = balance × r (interest on the reducing balance); the rest of the EMI reduces the balance. The last EMI pays whatever is left, so the principal adds up exactly to P.
- Totals: total interest = n × EMI − P (0 at 0%); total payment = P + total interest; the interest share = 100 × total interest ÷ total payment, left out when the total payment is 0.
Assumptions
- The rate is fixed for the whole tenure; interest is on the reducing balance, charged monthly.
- Every EMI is paid at the end of its month.
- Processing fees, insurance, and prepayments are not included.
- Values are not rounded between months; the page rounds rupees to the nearest rupee for display only.
- The default rate is an example, not a live rate.
Worked examples by hand
₹25,00,000 at 8.5% for 20 years. r = 8.5 ÷ 1200 = 0.0070833 and n = 240. (1 + r)^240 = 5.441243, so EMI = 25,00,000 × 0.0070833 × 5.441243 ÷ 4.441243 = ₹21,696. The total payment is 240 × 21,695.58 = ₹52,06,939, so the interest is ₹27,06,939, 52.0% of the total.
₹1,00,000 at 12% for 1 year. r = 0.01 and n = 12. 1.01^12 = 1.126825, so EMI = 1,00,000 × 0.01 × 1.126825 ÷ 0.126825 = ₹8,885. Twelve EMIs total ₹1,06,619, so the interest is ₹6,619.
₹6,00,000 at 0% for 4 years and 6 months. n = 54, so EMI = 6,00,000 ÷ 54 = ₹11,111 and there is no interest.
Other questions people ask
What is an EMI?
An equated monthly instalment (EMI) is the fixed amount you pay every month on a loan. Each EMI pays that month’s interest first; the rest reduces the loan, so the interest part falls and the principal part grows over the tenure.
How is EMI calculated?
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 tenure in months. A ₹25,00,000 home loan at 8.5% for 20 years has an EMI of ₹21,696.
How can I lower my EMI?
Borrow less, get a lower rate, or choose a longer tenure. A longer tenure lowers the EMI but raises the total interest: the loan above costs ₹27,06,939 in interest over 20 years.
What happens to my EMI when a floating rate changes?
The lender either raises the EMI or lengthens the tenure. Under the Reserve Bank of India’s circular of August 18, 2023 on floating rate personal loans, the lender must tell you how a rate reset affects the EMI and tenure, and offer you the choice of a higher EMI, a longer tenure, or both.
Does the EMI include processing fees?
No. Processing fees, insurance, and other charges are paid separately or deducted from the loan. They raise the true cost of the loan, so ask the lender for every charge.
Why does the page show plain numbers, not lakh and crore?
The page groups digits in thousands (25,00,000 is shown as 2,500,000). The values are the same; 1 lakh is 1,00,000 and 1 crore is 1,00,00,000.
Is the example rate a current bank rate?
No. The page shows no live rates; the default is only an example. Enter the rate your bank or lender quotes.