EMI calculator
Work out the monthly instalment for any loan, see how much interest you'll pay and view the full repayment schedule.
Monthly EMI
₹10,871
- Principal
- ₹5,00,000
- Interest
- ₹1,52,273
- Total payable
- ₹6,52,273
Illustrative, using the reducing-balance method. Your actual rate and EMI are set by the lender.
What you pay each year
Early EMIs are mostly interest; later ones mostly repay principal.
- Principal repaid
- Interest paid
Repayment schedule
| Year | Principal | Interest | Total paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹79,377 | ₹51,077 | ₹1,30,455 | ₹4,20,623 |
| Year 2 | ₹88,563 | ₹41,892 | ₹1,30,455 | ₹3,32,060 |
| Year 3 | ₹98,811 | ₹31,643 | ₹1,30,455 | ₹2,33,249 |
| Year 4 | ₹1,10,246 | ₹20,209 | ₹1,30,455 | ₹1,23,003 |
| Year 5 | ₹1,23,003 | ₹7,452 | ₹1,30,455 | ₹0 |
Understand your EMI
EMI questions
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.
Why is most of my early EMI interest?
Interest is charged on the outstanding balance. At the start the balance is highest, so a larger share of each EMI goes to interest. As you repay principal, the interest share falls.
How can I reduce my EMI?
Choose a longer tenure, negotiate a lower rate with a stronger credit score, or make a larger down payment. A longer tenure lowers the EMI but increases the total interest you pay.
Does the calculator include processing fees?
No. It shows principal and interest only. Processing fees, insurance and other charges are listed in the lender's Key Fact Statement.