EMI Calculator for Home Loan, Car Loan & Personal Loan
Calculate your monthly EMI, total interest payable, total repayment, and loan schedule.
Payment Break-up
Schedule showing EMI payments starting from
| Year | Principal Paid | Interest Paid | Total Payment | Balance |
|---|
Click any year to expand its monthly payment schedule.
Yearly Principal, Interest & Balance Chart
What is EMI?
EMI stands for Equated Monthly Instalment. It is the fixed amount you pay every month toward a loan until the principal and interest are fully repaid.
Each EMI contains two parts: interest for the outstanding balance and principal repayment. Early payments usually contain more interest; later payments usually reduce more principal.
- P is the principal loan amount.
- r is the monthly interest rate.
- n is the tenure in months.
How to read this emi calculator
Compare a monthly payment with the interest paid over the whole term. A lower EMI can simply mean paying interest for longer. Use the home-loan comparison when you want to model prepayments and ownership costs.
Worked example
₹1,00,000 at 12% nominal annual interest over 12 months, paid in arrears, gives an EMI of ₹8,884.88. Twelve unrounded payments total ₹1,06,618.55; interest is ₹6,618.55.
Method and assumptions
Use principal × monthly rate ÷ (1 − (1 + monthly rate) raised to minus the month count). At zero interest, divide principal by months.
Fixed nominal annual interest divided by 12, with equal monthly payments. Arrears payments are due after a monthly interest period; advance payments start immediately with no first-payment interest. The selected start month labels the first payment. No fees, taxes, insurance or rate changes. Totals use unrounded calculations; displayed schedule amounts round to whole rupees.
Checks and limitations
Example and model checked on . These are software calculation checks, not a professional review of your finances. Displayed rupees may differ slightly from unrounded totals.
Our checking process · Report a calculation issue · More loans tools
Published by Hazoncorp Solution LLP. Report an error.