EMI Calculator

An EMI (Equated Monthly Instalment) calculator helps you plan your loan repayment by calculating the fixed monthly amount you need to pay your lender. Whether you are planning a home loan, car loan, or personal loan, knowing your EMI in advance helps you budget effectively. Our free EMI calculator uses the standard formula approved by Indian banks and RBI guidelines. Simply enter your loan amount, interest rate, and tenure to instantly see your monthly EMI, total interest payable, and complete amortization schedule. Use this tool to compare different loan offers and choose the most affordable option for your financial situation.

Ad 728×90

Ad 320×100

Loan Details

Loan Amount₹25L

₹1L₹1Cr

Annual Interest Rate8.5%

5%20%

Loan Tenure20 Years

1 Year30 Years

EMI Breakdown

₹21,696

Monthly EMI

Principal Amount

₹25,00,000

Total Interest

₹27,06,939

Total Payment

₹52,06,939

Interest Rate

8.5%

Principal (48.0%)

Interest (52.0%)

Year-wise Payment Schedule

Year	Principal	Interest	Total	Balance
Yr 1	₹49,755	₹2,10,591	₹2,60,352	₹24,50,244
Yr 2	₹54,153	₹2,06,194	₹2,60,352	₹23,96,091
Yr 3	₹58,942	₹2,01,407	₹2,60,352	₹23,37,150
Yr 4	₹64,150	₹1,96,197	₹2,60,352	₹22,73,000
Yr 5	₹69,820	₹1,90,525	₹2,60,352	₹22,03,180

Ad 300×250

Frequently Asked Questions

What is EMI?

EMI stands for Equated Monthly Instalment. It is a fixed payment amount made by a borrower to a lender on a specified date each month. EMIs are used to pay off both interest and principal every month so that over a specified number of years, the loan is fully paid off.

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 (annual rate divided by 12 divided by 100), and n is the loan tenure in months.

What is a good EMI to salary ratio?

Financial experts recommend that your total EMI outflow should not exceed 40% of your monthly take-home salary. For example, if your monthly salary is ₹50,000, your total EMIs across all loans should ideally not exceed ₹20,000 per month.

How can I reduce my EMI?

You can reduce your EMI in three ways: (1) Make a larger down payment to reduce the principal amount, (2) negotiate a lower interest rate with your lender or opt for a lender offering lower rates, or (3) increase the loan tenure — though this increases total interest paid.