Calculate your monthly EMI (Equated Monthly Instalment) for home loan, car loan, personal loan, or education loan. View total interest payable and year-by-year amortisation schedule.
Monthly EMI
₹0
Total Interest
₹0
Total Payment
₹0
Interest-to-Principal Ratio
0%
Yearly Amortisation Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|
An EMI (Equated Monthly Instalment) calculator is a financial tool that helps you compute the fixed monthly payment you need to make to repay a loan over a specified tenure. Whether you are planning a home loan, car loan, personal loan, or education loan, knowing your exact EMI helps you plan your monthly budget and assess affordability before committing to a loan.
The EMI amount depends on three key factors: the principal loan amount, the annual interest rate charged by the lender, and the loan repayment tenure in years or months. A higher loan amount or interest rate increases your EMI, while a longer tenure reduces it (but increases total interest paid).
Example: Rs 20 Lakh home loan at 8.5% for 20 years
P = 20,00,000 | r = 8.5/12/100 = 0.007083 | n = 240 months
EMI = 20,00,000 x 0.007083 x (1.007083)^240 / [(1.007083)^240 - 1]
Monthly EMI = Rs 17,356
Total payment over 20 years = Rs 41,65,440
Total interest payable = Rs 21,65,440 (108% of principal!)
| Bank / Lender | Interest Rate Range | Processing Fee | Max Tenure |
|---|---|---|---|
| SBI Home Loan | 8.50% - 9.65% | 0.35% of loan amount | 30 years |
| HDFC Bank | 8.75% - 9.65% | Up to Rs 3,000 + taxes | 30 years |
| ICICI Bank | 8.75% - 9.80% | 0.50% + taxes | 30 years |
| Bank of Baroda | 8.40% - 9.65% | Nil to Rs 10,000 | 30 years |
| LIC Housing Finance | 8.50% - 9.50% | Rs 10,000 - Rs 25,000 | 30 years |
| PNB Housing | 8.50% - 9.75% | 0.35% + taxes | 25 years |
An amortisation schedule shows the year-by-year (or month-by-month) breakdown of how your EMI is split between principal repayment and interest payment. A critical insight that every borrower should understand:
In the early years of a home loan, 70-80% of your EMI goes towards paying interest, not principal. This means your outstanding balance reduces very slowly in the first few years. Only towards the second half of the tenure does principal repayment accelerate. This is precisely why early prepayments have such an outsized impact on reducing total interest — they directly reduce the principal on which future interest is calculated.
This is one of the most debated questions in Indian personal finance. The answer depends on your loan interest rate: