🏦 EMI Calculator
Calculate your monthly EMI, total interest payable, and view a full amortization schedule for home loans, car loans, personal loans and education loans.
EMI Breakdown
Monthly EMI
₹43,391
Total Interest
₹54,13,879
Total Amount
₹1,04,13,879
Principal
₹50,00,000
📋 Amortization Schedule
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹43,391 | ₹7,974 | ₹35,417 | ₹49,92,026 |
| 2 | ₹43,391 | ₹8,031 | ₹35,360 | ₹49,83,995 |
| 3 | ₹43,391 | ₹8,088 | ₹35,303 | ₹49,75,907 |
| 4 | ₹43,391 | ₹8,145 | ₹35,246 | ₹49,67,762 |
| 5 | ₹43,391 | ₹8,203 | ₹35,188 | ₹49,59,559 |
| 6 | ₹43,391 | ₹8,261 | ₹35,130 | ₹49,51,298 |
| 7 | ₹43,391 | ₹8,319 | ₹35,072 | ₹49,42,978 |
| 8 | ₹43,391 | ₹8,378 | ₹35,013 | ₹49,34,600 |
| 9 | ₹43,391 | ₹8,438 | ₹34,953 | ₹49,26,162 |
| 10 | ₹43,391 | ₹8,498 | ₹34,894 | ₹49,17,665 |
| 11 | ₹43,391 | ₹8,558 | ₹34,833 | ₹49,09,107 |
| 12 | ₹43,391 | ₹8,618 | ₹34,773 | ₹49,00,489 |
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is a fixed amount you pay every month to repay your loan. It includes both principal repayment and interest.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the principal amount, r is the monthly interest rate, and n is the total number of monthly instalments.
Does a higher tenure reduce EMI?
Yes, a longer tenure reduces your monthly EMI but increases the total interest you pay over the loan period. A shorter tenure means higher EMI but less total interest.
Can I prepay my loan to reduce EMI?
Yes, most banks allow part-prepayment which reduces either your EMI amount or loan tenure. Home loans typically have no prepayment penalty for floating-rate loans.
What is the difference between flat rate and reducing balance?
Flat rate charges interest on the original principal throughout. Reducing balance (used by most banks) charges interest on the outstanding balance, which decreases over time — making it cheaper overall.
How does interest rate affect my EMI?
Even a 0.5% change in interest rate can significantly impact your total outgo, especially for long-tenure loans like home loans. Always compare rates from multiple lenders.