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Free tool
EMI calculator
See your monthly EMI, the total interest and a year-by-year repayment schedule for any loan — before you talk to a lender.
₹50K₹5 Cr
6%30%
1 yr30 yrs
Your monthly EMI
—
Principal—
Total interest—
Total payable—
For illustration only. The actual EMI depends on the rate, fees and tenure the lender offers you.
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|
How EMI is 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.
In the early years most of each EMI goes towards interest; later, more of it reduces the principal. The schedule above shows how that shifts year by year.
Ways to lower your EMI
- A longer tenure lowers the EMI but raises the total interest.
- A better credit score can get you a lower rate.
- A balance transfer can cut the rate on a loan you already have.
- Part-prepayments reduce the principal, and so the interest.
Takes about 2 minutes
Happy with the numbers?
Apply once and we will find the lenders whose rates and terms fit your profile.