EMI Calculator

Calculate your Home, Car, and Personal Loan Installments instantly.

Principal Amount LoanRs. 50,00,000
Rate of Interest (p.a)8.5%
Loan Tenure20 Years
Monthly EMIRs. 43,391
Principal AmountRs. 50,00,000
Total InterestRs. 54,13,879
Total PaymentRs. 1,04,13,879

Payment Breakdown

Principal Loan
Total Interest

Yearly Amortization Schedule

YearPrincipal PaidInterest PaidTotal PaymentBalance Remaining
Year 1Rs. 99,511Rs. 4,21,182Rs. 5,20,694Rs. 49,00,489
Year 2Rs. 1,08,307Rs. 4,12,387Rs. 5,20,694Rs. 47,92,181
Year 3Rs. 1,17,881Rs. 4,02,813Rs. 5,20,694Rs. 46,74,300
Year 4Rs. 1,28,300Rs. 3,92,394Rs. 5,20,694Rs. 45,46,000
Year 5Rs. 1,39,641Rs. 3,81,053Rs. 5,20,694Rs. 44,06,359
Year 6Rs. 1,51,984Rs. 3,68,710Rs. 5,20,694Rs. 42,54,375
Year 7Rs. 1,65,418Rs. 3,55,276Rs. 5,20,694Rs. 40,88,957
Year 8Rs. 1,80,039Rs. 3,40,655Rs. 5,20,694Rs. 39,08,918
Year 9Rs. 1,95,953Rs. 3,24,741Rs. 5,20,694Rs. 37,12,965
Year 10Rs. 2,13,274Rs. 3,07,420Rs. 5,20,694Rs. 34,99,691
Year 11Rs. 2,32,125Rs. 2,88,569Rs. 5,20,694Rs. 32,67,566
Year 12Rs. 2,52,643Rs. 2,68,051Rs. 5,20,694Rs. 30,14,923
Year 13Rs. 2,74,974Rs. 2,45,720Rs. 5,20,694Rs. 27,39,949
Year 14Rs. 2,99,279Rs. 2,21,415Rs. 5,20,694Rs. 24,40,670
Year 15Rs. 3,25,733Rs. 1,94,961Rs. 5,20,694Rs. 21,14,937
Year 16Rs. 3,54,525Rs. 1,66,169Rs. 5,20,694Rs. 17,60,412
Year 17Rs. 3,85,862Rs. 1,34,832Rs. 5,20,694Rs. 13,74,550
Year 18Rs. 4,19,968Rs. 1,00,726Rs. 5,20,694Rs. 9,54,582
Year 19Rs. 4,57,090Rs. 63,604Rs. 5,20,694Rs. 4,97,492
Year 20Rs. 4,97,492Rs. 23,202Rs. 5,20,694Rs. 0

What is EMI?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.

How is EMI calculated?

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where P = Principal loan amount, R = Monthly interest rate, N = Number of monthly installments.

Disclaimer:The calculations are estimates. Actual EMI may vary based on processing fees, prepayment charges, and floating interest rate changes by the bank.

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Frequently Asked Questions — EMI Calculator

What is EMI?

EMI stands for Equated Monthly Installment. It is the fixed amount you pay to a bank or financial institution on a specific date each month towards repaying your loan (home loan, car loan, personal loan, etc.).

How is EMI calculated?

EMI is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P is the principal loan amount, R is the monthly interest rate, and N is the total number of monthly installments.

Can I reduce my EMI?

Yes, you can reduce your EMI by: (1) making prepayments to reduce the principal, (2) negotiating a lower interest rate with your bank, (3) extending the loan tenure, or (4) transferring your loan to a bank offering lower rates.

What happens if I miss an EMI payment?

Missing an EMI payment results in a late payment fee, negative impact on your credit score (CIBIL), and a potential increase in overall interest. Repeated defaults can lead to legal action by the lender.