EMI Calculator
Calculate your Equated Monthly Instalment for home loan, car loan or personal loan.
₹10,00,000
₹50K₹1Cr
8.5%
1%24%
20 years
Monthly EMI
₹8,678
Total Interest
₹10,82,776
Total Payment
₹20,82,776
Breakup
PrincipalInterest
Frequently Asked Questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to repay a loan. It includes both principal and interest components.
How is EMI calculated?
EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly interest rate, and n is number of months.
Does prepayment reduce EMI?
Yes — making a partial prepayment reduces either your outstanding principal (reducing tenure) or your monthly EMI, depending on your bank's policy.
What is the best tenure for a home loan?
Shorter tenure means higher EMI but lower total interest. Longer tenure means lower EMI but more interest paid. Choose based on your monthly budget.