EMI Calculator

Work out emi instantly with clear inputs, formula shown and shareable results.

About EMI Calculator

An equated monthly instalment keeps the payment constant while the split between interest and principal shifts over time. The payment comes from the annuity formula using the monthly rate and the number of months in the tenure.

Formula

EMI

EMI = P·r / (1 - (1+r)^-n)

P: Loan amount
r: Monthly rate = annual/12
n: Number of months

Worked example

With the default values below, EMI Calculator returns Monthly EMI of $21,695.58. Change any input above and every figure here is recalculated in your browser.

Inputs used

Loan Amountminimum 0: 2,500,000
Annual Interest Rateaccepts 0–100 %: 8.5 %
Tenure In Yearsaccepts 0.5–40: 20

Results

Monthly EMI: $21,695.58
Total Interest Payable: $2,706,939.40
Total Amount Payable: $5,206,939.40
Interest As Share Of Total Outgo: 51.99%

Step by step

1Values used
2EMI
3Monthly EMI= 21,695.58
4Total Interest Payable= 2,706,939.40
5Total Amount Payable= 5,206,939.40
6Interest As Share Of Total Outgo= 51.99

Assumptions and limits

The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax or fees or charges into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

The idea behind an equated instalment

An EMI is a payment that never changes. What changes is its composition: at the start almost all of it is interest on a large outstanding balance, and by the end almost all of it is principal. Borrowers use this calculator before signing a home, car or education loan, when deciding between a shorter and longer tenure, or when a lender quotes an instalment and they want to check it.

Three inputs drive it: loan amount, annual interest rate, and tenure in years. It returns the monthly EMI, the total interest payable, the total amount payable, and interest as a share of total outgo.

The annuity formula

EMI = P · r / (1 − (1 + r)^−n)

P is the sanctioned loan amount
r is the monthly rate — annual rate ÷ 12, as a decimal
n is tenure in years × 12

Running the defaults

Loan of 25,00,000 at 8.5% for 20 years.

Monthly rate: 0.085 ÷ 12 = 0.00708333
Number of instalments: 20 × 12 = 240
(1.00708333)^−240 = 0.18378
Numerator: 25,00,000 × 0.00708333 = 17,708.33
EMI: 17,708.33 ÷ (1 − 0.18378) = 21,695.58, so about 21,696 a month

Over 240 months that is 52,06,939 paid in total, of which 27,06,939 is interest — 52% of everything you pay goes to interest, slightly more than the amount borrowed.

Where the money goes month by month

The first instalment splits 17,708 interest and 3,987 principal. After five years the balance has only fallen to 22,03,180; after ten years, 17,49,846 — 70% of the original loan is still outstanding at the halfway mark. That back-loading is why prepayments made early save far more than the same rupee amount paid late.

Tenure and rate sensitivity

Change	EMI	Total interest
15 years instead of 20	24,618	19,31,328
20 years, 8.5% (default)	21,696	27,06,939
25 years instead of 20	20,131	35,39,203

Five extra years buys a 1,565 lower EMI and costs 8,32,264 more in interest.

Assumptions worth knowing

One fixed rate for the whole tenure. A floating-rate loan repriced to 9% would need 22,493 a month, 798 more.
Processing fees, insurance premiums and documentation charges are not included.
Lenders round the final instalment and may use a different day-count convention, so expect small differences from your sanction letter.

Not financial advice — confirm figures with your lender.

Guides that use this calculator

How EMI Is Calculated (And What Prepayment Actually Saves)The EMI formula worked through on a 25 lakh loan, why early instalments are mostly interest, and what tenure and prepayment really change.5 min

Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.

Frequently Asked Questions

Why is early EMI mostly interest?

Interest is charged on the outstanding balance, which is largest at the start, so little of the first instalments touches principal.

What happens if the tenure is stretched?

The EMI falls but total interest rises, because the balance stays outstanding for longer.

How much of the default 25 lakh loan is still outstanding after ten years of EMIs?

About 17,49,846 — roughly 70% of the original principal, even though you are halfway through the 240 instalments and have already paid out more than 26 lakh. Interest is charged on the outstanding balance, so the early years retire very little principal. This is the single most useful number for judging whether a prepayment is worthwhile.

What does a half-point rate increase do to the default instalment?

Moving from 8.5% to 9% on 25,00,000 over 20 years lifts the EMI from 21,696 to 22,493 — about 798 more a month. Total interest rises from 27,06,939 to 28,98,356, roughly 1,91,416 extra. Rate sensitivity grows with tenure, which is why long loans are the ones most exposed to repricing.

Should the loan amount be the sanctioned figure or what the bank actually disburses?

Enter the sanctioned principal, because that is the amount the EMI is computed on. Processing fees, legal charges and insurance premiums are usually deducted from the disbursement or charged separately, so you may receive less than you entered while still repaying the full amount. Those costs are outside this calculator and should be added to your total cost of borrowing.

Can I use this for a floating-rate loan with periodic resets?

Only as a snapshot. The formula assumes one rate for all 240 months. For a floating loan, run it at the current rate for today's EMI, then rerun it at a rate one or two points higher to see the instalment your budget would need to absorb. Most lenders keep the EMI fixed and extend the tenure instead, which this model does not show.