EMI Calculator — Home, Car, Personal & Business Loan
Calculate monthly EMI, total interest, and a year-by-year amortization schedule for any loan. Reducing-balance math, no signup.
Loan details
EMI updates live as you type.
Home loan EMI for buying or constructing a residential property. Math is identical across loan types — banks just price rate & tenure differently.
Reducing-balance / annual interest rate quoted by your bank.
Your monthly Home loan EMI
₹43,391/month
Total interest
₹54,13,879
Total payment
₹1,04,13,879
Interest as % of payment
52.0%
Principal
48%
Interest 52%
Year-by-year amortization schedule(click to expand)
| Year | Opening balance | Principal paid | Interest paid | Closing balance | EMIs |
|---|---|---|---|---|---|
| 1 | ₹50,00,000 | ₹99,511 | ₹4,21,182 | ₹49,00,489 | 12 |
| 2 | ₹49,00,489 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 | 12 |
| 3 | ₹47,92,181 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 | 12 |
| 4 | ₹46,74,300 | ₹1,28,300 | ₹3,92,394 | ₹45,46,000 | 12 |
| 5 | ₹45,46,000 | ₹1,39,641 | ₹3,81,053 | ₹44,06,359 | 12 |
| 6 | ₹44,06,359 | ₹1,51,984 | ₹3,68,710 | ₹42,54,375 | 12 |
| 7 | ₹42,54,375 | ₹1,65,418 | ₹3,55,276 | ₹40,88,957 | 12 |
| 8 | ₹40,88,957 | ₹1,80,039 | ₹3,40,655 | ₹39,08,918 | 12 |
| 9 | ₹39,08,918 | ₹1,95,953 | ₹3,24,741 | ₹37,12,965 | 12 |
| 10 | ₹37,12,965 | ₹2,13,274 | ₹3,07,420 | ₹34,99,691 | 12 |
| 11 | ₹34,99,691 | ₹2,32,125 | ₹2,88,569 | ₹32,67,566 | 12 |
| 12 | ₹32,67,566 | ₹2,52,643 | ₹2,68,051 | ₹30,14,923 | 12 |
| 13 | ₹30,14,923 | ₹2,74,974 | ₹2,45,720 | ₹27,39,949 | 12 |
| 14 | ₹27,39,949 | ₹2,99,279 | ₹2,21,415 | ₹24,40,670 | 12 |
| 15 | ₹24,40,670 | ₹3,25,733 | ₹1,94,961 | ₹21,14,937 | 12 |
| 16 | ₹21,14,937 | ₹3,54,525 | ₹1,66,169 | ₹17,60,412 | 12 |
| 17 | ₹17,60,412 | ₹3,85,862 | ₹1,34,832 | ₹13,74,550 | 12 |
| 18 | ₹13,74,550 | ₹4,19,968 | ₹1,00,726 | ₹9,54,582 | 12 |
| 19 | ₹9,54,582 | ₹4,57,090 | ₹63,604 | ₹4,97,492 | 12 |
| 20 | ₹4,97,492 | ₹4,97,492 | ₹23,202 | ₹0 | 12 |
Estimates only. Uses the standard reducing-balance EMI formula at a fixed rate; actual EMIs may differ if your bank charges processing fees, levies a floating rate, or compounds differently. Confirm the exact schedule with your lender before signing.
How to use this calculator
- 1
Pick your loan type
Choose Home, Car, Personal, or Business. The math is identical, but the label and tips on the page adjust.
- 2
Enter loan amount and interest rate
Type the principal you plan to borrow and the annual reducing-balance rate quoted by your bank. Most home loans sit around 8.5%; personal loans are typically 11–18%.
- 3
Set tenure in years or months
Toggle between years and months and pick the duration. Try a few values to see how a shorter tenure crushes your total interest.
- 4
Read the EMI, totals, and amortization
See your monthly EMI, total interest, and the principal-vs-interest pie split. Expand the year-by-year amortization schedule to see how each year retires principal.
Frequently asked questions
How is the EMI on a home loan calculated?
EMI uses the reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the tenure in months. For a ₹50 lakh home loan at 8.5% over 20 years, n = 240 and r = 0.007083, giving an EMI of about ₹43,391/month. Each EMI in the early years is mostly interest; the principal share grows as the balance falls.
Is the EMI math the same for a car loan or personal loan?
Yes. The reducing-balance formula is identical across home, car, personal, and business loans. What changes is the interest rate (typically 8–9% for home loans, 9–11% for car loans, 11–24% for personal loans, and 11–20% for business loans) and the tenure (up to 30 years for home loans, 1–7 years for car loans, 1–5 years for personal/business loans). Plug your bank-quoted rate and tenure into the calculator above to compare.
What is an amortization schedule and why does it matter?
An amortization schedule breaks your EMI down month-by-month (or year-by-year) into principal and interest. It matters because in the first years of a long-tenure loan — say a 20-year home loan — about 70–80% of every EMI is interest. If you make a part-prepayment in year 3, you wipe out a big chunk of future interest, not just the principal, because the bank recomputes the schedule on the lower balance.
Should I take a longer tenure to lower my EMI?
A longer tenure lowers the monthly EMI but raises total interest dramatically. For a ₹10 lakh personal loan at 12%, a 3-year tenure costs about ₹1.96 lakh in interest, while a 5-year tenure costs about ₹3.35 lakh — a 70% jump in interest for the same loan. Pick the shortest tenure where the EMI is comfortably under 40% of your take-home pay.
Does the calculator account for processing fees or GST?
No. The EMI shown is purely the principal-and-interest payment using the rate you enter. Banks typically charge a one-time processing fee of 0.5–2% of the loan amount, plus 18% GST on that fee. Some lenders also bundle insurance or legal charges. Confirm the all-in cost (annual percentage rate, or APR) with your bank before signing.
Is my data saved or shared?
Nothing leaves your browser. The calculation runs entirely client-side — no server call, no cookie, no analytics on your inputs. Refresh the page and the values reset to defaults.
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