EMI Calculator
An Equated Monthly Instalment (EMI) is the fixed amount you pay every month toward your loan. It includes both the interest charged by the bank and a repayment of the principal borrowed.
Use the calculator below to find your EMI instantly and download the full repayment schedule as a CSV.
Loan Details
Enter the total loan amount
20 years 0 months
EMI Summary
- Monthly EMI
- ₹8,678
- Total Payment
- ₹20.83 L
- Total Interest
- ₹10.83 L
- Loan Amount
- ₹10.00 L
Full Schedule
Repayment Schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹8,678 | ₹1,595 | ₹7,083 | ₹9,98,405 |
| 2 | ₹8,678 | ₹1,606 | ₹7,072 | ₹9,96,799 |
| 3 | ₹8,678 | ₹1,618 | ₹7,061 | ₹9,95,181 |
| 4 | ₹8,678 | ₹1,629 | ₹7,049 | ₹9,93,552 |
| 5 | ₹8,678 | ₹1,641 | ₹7,038 | ₹9,91,912 |
| 6 | ₹8,678 | ₹1,652 | ₹7,026 | ₹9,90,260 |
| 7 | ₹8,678 | ₹1,664 | ₹7,014 | ₹9,88,596 |
| 8 | ₹8,678 | ₹1,676 | ₹7,003 | ₹9,86,920 |
| 9 | ₹8,678 | ₹1,688 | ₹6,991 | ₹9,85,232 |
| 10 | ₹8,678 | ₹1,700 | ₹6,979 | ₹9,83,533 |
| 11 | ₹8,678 | ₹1,712 | ₹6,967 | ₹9,81,821 |
| 12 | ₹8,678 | ₹1,724 | ₹6,955 | ₹9,80,098 |
Frequently Asked Questions
What is an EMI?
EMI (Equated Monthly Instalment) is a fixed payment made every month to repay a loan. Each EMI covers both the interest accrued and a portion of the principal, so your loan balance reduces every month.
How is EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = principal, R = monthly interest rate (annual rate ÷ 12 ÷ 100), and N = tenure in months.
Does a longer loan tenure reduce EMI?
Yes. A longer tenure lowers your monthly EMI but significantly increases total interest paid. For example, a ₹50L loan at 8.5% for 15 years costs ₹49,285/month; stretching to 20 years drops it to ₹43,391/month but adds ~₹10L in extra interest.
What happens if I make a prepayment?
A prepayment reduces the principal outstanding, which in turn reduces future interest. Most lenders allow part-prepayments — use our Loan Amortization calculator to model the savings.
What is a good EMI-to-income ratio?
Financial advisors recommend keeping total EMIs under 40% of your monthly take-home pay. Above 50% is considered high risk.