EMI Calculator
Monthly loan EMI, total interest & amortization schedule
Loan summary
- Monthly EMI
- ₹17,356
- Total payment
- ₹41,65,552
- Total interest
- ₹21,65,552
- Tenure
- 240 months
Amortization schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹17,356 | ₹3,190 | ₹14,167 | ₹19,96,810 |
| 2 | ₹17,356 | ₹3,212 | ₹14,144 | ₹19,93,598 |
| 3 | ₹17,356 | ₹3,235 | ₹14,121 | ₹19,90,363 |
| 4 | ₹17,356 | ₹3,258 | ₹14,098 | ₹19,87,105 |
| 5 | ₹17,356 | ₹3,281 | ₹14,075 | ₹19,83,823 |
| 6 | ₹17,356 | ₹3,304 | ₹14,052 | ₹19,80,519 |
| 7 | ₹17,356 | ₹3,328 | ₹14,029 | ₹19,77,191 |
| 8 | ₹17,356 | ₹3,351 | ₹14,005 | ₹19,73,840 |
| 9 | ₹17,356 | ₹3,375 | ₹13,981 | ₹19,70,465 |
| 10 | ₹17,356 | ₹3,399 | ₹13,957 | ₹19,67,066 |
| 11 | ₹17,356 | ₹3,423 | ₹13,933 | ₹19,63,643 |
| 12 | ₹17,356 | ₹3,447 | ₹13,909 | ₹19,60,195 |
How to use
- Enter your loan amount in rupees (e.g. 2000000 for ₹20 lakh).
- Enter the annual interest rate your bank quoted (e.g. 8.5).
- Enter tenure in years (e.g. 20 for a 20-year loan).
- Results update automatically — EMI, chart, and amortization table.
The formula (in simple words)
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is loan amount, r is monthly interest rate (annual rate ÷ 12 ÷ 100), and n is tenure in months. Each month you pay the same EMI, but the interest portion goes down and principal portion goes up.
Frequently asked questions
Not always. A longer tenure lowers EMI but you pay more total interest over the life of the loan. Compare total interest, not just EMI.