Finance · Free tool
EMI Calculator
Plan your home, car or personal loan EMI. Adjust loan amount, interest rate and tenure — see your monthly EMI, total interest and the full amortisation schedule instantly.
₹50,00,000
8.50%
240 mo
Monthly EMI
₹43,391
Principal
₹50,00,000
Total interest
₹54,13,879
Total payment
₹1,04,13,879
Tenure
240 months
How is EMI calculated?
EMI uses the standard reducing-balance formula: EMI = P × r × (1+r)n / ((1+r)n − 1), where P is principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is tenure in months. Each month, a larger share of your EMI goes towards principal and a smaller share to interest — you can see this in the year-by-year breakdown.
Tips
- Drop the tenure by 5 years and watch total interest crash — usually a much bigger lever than chasing 0.25% on the rate.
- Floating-rate home loans usually let you prepay without penalty. Even ₹1 lakh prepaid in year 2 saves lakhs in interest.
- For tax planning, home-loan principal qualifies under 80C (up to ₹1.5 L) and interest under Section 24(b) (up to ₹2 L for self-occupied).