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EMI Calculator

Compute equated monthly installments for any loan.

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Parameters

Display Currency
₹
010 Cr
%
030
Years
130

Calculation Results

Monthly EMI

₹10,379

Total Amount Payable

₹6.23 L

Total Interest Cost

₹1.23 L

Total Payable₹6.23 L
Principal₹5.00 L (80%)
Interest₹1.23 L (20%)

Growth Projection Over Time

Yr 1
Yr 2
Yr 3
Yr 4
Yr 5
Total Investment
Total Interest Earned

Repayment & Amortization Schedule

Month-by-month breakdown of principal, interest, and remaining balance.

MonthPaymentPrincipalInterestBalance
1₹10,379₹6,629₹3,750₹4.93 L
2₹10,379₹6,679₹3,700₹4.87 L
3₹10,379₹6,729₹3,650₹4.80 L
4₹10,379₹6,779₹3,600₹4.73 L
5₹10,379₹6,830₹3,549₹4.66 L
6₹10,379₹6,882₹3,498₹4.59 L
7₹10,379₹6,933₹3,446₹4.53 L
8₹10,379₹6,985₹3,394₹4.46 L
9₹10,379₹7,038₹3,342₹4.39 L
10₹10,379₹7,090₹3,289₹4.31 L
11₹10,379₹7,143₹3,236₹4.24 L
12₹10,379₹7,197₹3,182₹4.17 L
13₹10,379₹7,251₹3,128₹4.10 L
14₹10,379₹7,305₹3,074₹4.03 L
15₹10,379₹7,360₹3,019₹3.95 L
16₹10,379₹7,415₹2,964₹3.88 L
17₹10,379₹7,471₹2,908₹3.80 L
18₹10,379₹7,527₹2,852₹3.73 L
19₹10,379₹7,584₹2,796₹3.65 L
20₹10,379₹7,640₹2,739₹3.58 L
21₹10,379₹7,698₹2,681₹3.50 L
22₹10,379₹7,755₹2,624₹3.42 L
23₹10,379₹7,814₹2,566₹3.34 L
24₹10,379₹7,872₹2,507₹3.26 L
25₹10,379₹7,931₹2,448₹3.18 L
26₹10,379₹7,991₹2,388₹3.10 L
27₹10,379₹8,051₹2,329₹3.02 L
28₹10,379₹8,111₹2,268₹2.94 L
29₹10,379₹8,172₹2,207₹2.86 L
30₹10,379₹8,233₹2,146₹2.78 L
31₹10,379₹8,295₹2,084₹2.70 L
32₹10,379₹8,357₹2,022₹2.61 L
33₹10,379₹8,420₹1,959₹2.53 L
34₹10,379₹8,483₹1,896₹2.44 L
35₹10,379₹8,547₹1,833₹2.36 L
36₹10,379₹8,611₹1,769₹2.27 L
37₹10,379₹8,675₹1,704₹2.19 L
38₹10,379₹8,740₹1,639₹2.10 L
39₹10,379₹8,806₹1,573₹2.01 L
40₹10,379₹8,872₹1,507₹1.92 L
41₹10,379₹8,938₹1,441₹1.83 L
42₹10,379₹9,005₹1,374₹1.74 L
43₹10,379₹9,073₹1,306₹1.65 L
44₹10,379₹9,141₹1,238₹1.56 L
45₹10,379₹9,210₹1,170₹1.47 L
46₹10,379₹9,279₹1,100₹1.37 L
47₹10,379₹9,348₹1,031₹1.28 L
48₹10,379₹9,418₹961₹1.19 L
49₹10,379₹9,489₹890₹1.09 L
50₹10,379₹9,560₹819₹99,636
51₹10,379₹9,632₹747₹90,004
52₹10,379₹9,704₹675₹80,300
53₹10,379₹9,777₹602₹70,523
54₹10,379₹9,850₹529₹60,673
55₹10,379₹9,924₹455₹50,748
56₹10,379₹9,999₹381₹40,750
57₹10,379₹10,074₹306₹30,676
58₹10,379₹10,149₹230₹20,527
59₹10,379₹10,225₹154₹10,302
60₹10,379₹10,302₹77₹0

Calculator Guide & Math

1EMI Mathematics: Equated Monthly Installment Formula & Dynamics

Equated Monthly Installment (EMI) represents a fixed, recurring payment made to a lender on a set day of every calendar month until the loan is fully repaid. This calculator uses the reducing balance model. In the initial years, a larger percentage of your EMI goes toward paying off interest. As time passes and the outstanding loan principal declines, the interest contribution decreases, and a larger portion of your EMI goes toward paying off the principal.

Formula & Math Explanation

EMI = [P x r x (1 + r)^n] / [(1 + r)^n - 1]
  • •P = Principal Loan Amount borrowed from the financial institution
  • •r = Monthly interest rate (Annual Interest Rate / 12 / 100)
  • •n = Total number of monthly installments over the tenure

2Step-by-Step EMI Walkthrough Example

You secure a housing loan of ₹50,00,000 (50 Lakhs) for a tenure of 20 years (240 months) at a reducing rate of 9.5% per annum.

  1. Calculate the monthly reducing rate (r): 9.5% / 12 / 100 = 0.0079167 per month.
  2. Total installments (n): 20 years x 12 = 240 months.
  3. EMI = [5,000,000 x 0.0079167 x (1.0079167)^240] / [(1.0079167)^240 - 1].
  4. Determine exponential factor: (1.0079167)^240 = 6.64366.
  5. Multiply numerator: 5,000,000 x 0.0079167 x 6.64366 = 262,979.64.
  6. Solve denominator: 6.64366 - 1 = 5.64366.
  7. Divide numerator by denominator: 262,979.64 / 5.64366 = ₹46,597.40.
Result Summary: Your monthly EMI will be ₹46,597. Over 20 years, your total payment will be ₹1,11,83,375. This represents the ₹50,00,000 principal plus a total interest expense of ₹61,83,375.

EMI Calculator FAQs

No. Increasing the tenure reduces your monthly EMI amount, making it more manageable. However, it significantly increases the total interest paid because interest accrues over a much longer period of time.