Tools
EMI Calculator
Find the monthly instalment for any loan — and see exactly how much of what you repay is interest.
Indicative calculation for a reducing-balance loan. Your actual EMI depends on the lender's final rate and schedule.
Your monthly EMI
₹26,992
Principal amount
₹30 L
Total interest
₹34.78 L
- Principal
- ₹30,00,000
- Total interest
- ₹34,78,027
- Total payable
- ₹64,78,027
Questions
About EMIs
The maths behind your instalment, in plain language. For a deeper walkthrough, read our guide to how every EMI rupee is split.
How is EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the principal, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months. Our calculator uses exactly this reducing-balance formula.
Why is my total interest more than expected?
Interest accrues on the outstanding principal for the entire tenure. Longer tenures lower the EMI but raise total interest substantially — try shortening the tenure by a few years in the calculator to see the difference.
Does the EMI change when rates change?
For floating-rate loans, yes. When the benchmark moves, lenders either adjust your EMI or your tenure. You can usually ask them to keep the EMI and change the tenure instead.
Should I prepay or invest the surplus?
As a rule, if your loan rate is higher than what you can safely earn after tax, prepaying wins. For home loans at today's rates, many borrowers prefer a mix — prepay one extra EMI a year and invest the rest.
Want the full picture? Understanding your EMI: where every rupee goes