How is EMI calculated?

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. For ₹10 lakh at 8.5% for 20 years, the EMI is about ₹8,678.

How can I reduce my EMI or total interest?

A longer tenure lowers the EMI but increases total interest; a shorter tenure does the opposite. Part-prepayments early in the loan save the most interest, because interest is charged on the outstanding balance.

Is this the exact amount my bank will charge?

It's the standard reducing-balance calculation used by banks, but your lender may add processing fees, insurance or round differently. Treat it as a close estimate, not financial advice.

Home Loan EMI Calculator

Know your EMI.
Before you borrow.

Loan amount

₹

Interest rate (per year)

Loan tenure

years

Monthly EMI: ₹43,391
Total interest: ₹54,13,879
Total payment: ₹1,04,13,879

Principal · 48%Interest · 52%

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

Enter the loan amount, interest rate and tenure to get your monthly EMI, total interest and total payment, with a year-by-year (or month-by-month) amortization schedule you can download as CSV.

How to calculate EMI

Enter the loan amount.
Enter the annual interest rate.
Set the tenure in years or months.
Read the EMI and see how each payment splits between principal and interest.

EMI per ₹1 lakh borrowed

Multiply by the number of lakhs you plan to borrow — for a ₹30 lakh loan, multiply the figure by 30.

Reducing-balance EMI, computed with the same formula as the calculator.
Rate	10 years	15 years	20 years	25 years	30 years
7.5%	₹1,187	₹927	₹806	₹739	₹699
8%	₹1,213	₹956	₹836	₹772	₹734
8.5%	₹1,240	₹985	₹868	₹805	₹769
9%	₹1,267	₹1,014	₹900	₹839	₹805
9.5%	₹1,294	₹1,044	₹932	₹874	₹841

Home loan tips

Banks usually cap EMIs at 40–50% of your take-home pay.
A difference of just 0.5% in rate on a 20-year ₹50 lakh loan changes total interest by roughly ₹3–4 lakh.
Prepaying even one extra EMI a year can cut several years off a 20-year loan.

Frequently asked questions

How is EMI calculated?: EMI = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. For ₹10 lakh at 8.5% for 20 years, the EMI is about ₹8,678.
How can I reduce my EMI or total interest?: A longer tenure lowers the EMI but increases total interest; a shorter tenure does the opposite. Part-prepayments early in the loan save the most interest, because interest is charged on the outstanding balance.
Is this the exact amount my bank will charge?: It's the standard reducing-balance calculation used by banks, but your lender may add processing fees, insurance or round differently. Treat it as a close estimate, not financial advice.