EMI Calculator – Home, Personal & Car Loan
Calculate your monthly EMI payment, total interest payable, and amortized repayment breakdown.
Calculation Breakdown
Schedule & Breakdown Table
| Month | EMI | Principal Paid | Interest Paid | Balance |
|---|---|---|---|---|
| Month 1 | ₹21,696 | ₹3,987 | ₹17,708 | ₹24,96,013 |
| Month 2 | ₹21,696 | ₹4,015 | ₹17,680 | ₹24,91,997 |
| Month 3 | ₹21,696 | ₹4,044 | ₹17,652 | ₹24,87,953 |
| Month 4 | ₹21,696 | ₹4,073 | ₹17,623 | ₹24,83,881 |
| Month 5 | ₹21,696 | ₹4,101 | ₹17,594 | ₹24,79,779 |
| Month 6 | ₹21,696 | ₹4,130 | ₹17,565 | ₹24,75,649 |
| Month 7 | ₹21,696 | ₹4,160 | ₹17,536 | ₹24,71,489 |
| Month 8 | ₹21,696 | ₹4,189 | ₹17,506 | ₹24,67,300 |
| Month 9 | ₹21,696 | ₹4,219 | ₹17,477 | ₹24,63,081 |
| Month 10 | ₹21,696 | ₹4,249 | ₹17,447 | ₹24,58,832 |
| Month 11 | ₹21,696 | ₹4,279 | ₹17,417 | ₹24,54,553 |
| Month 12 | ₹21,696 | ₹4,309 | ₹17,386 | ₹24,50,244 |
Calculation Formula & Methodology
Where P = Principal, R = Monthly Interest Rate (Annual Rate / 12 / 100), N = Loan Tenure in Months.
What is EMI (Equated Monthly Installment)?
EMI is a fixed payment made by a borrower to a lender at a specified date each month to repay both principal and interest over a fixed tenure.
How Loan EMI Repayment Works
In initial years, a higher portion of EMI goes towards paying interest. As the loan matures, a larger portion pays down principal.
Example Home Loan EMI
₹25 Lakh loan at 8.5% p.a. for 20 years (240 months):
Monthly EMI is ₹21,696.
Loan Factors
Interest Rate & Tenure
Longer tenure lowers monthly EMI but increases overall interest paid.
Frequently Asked Questions
Yes, prepaying principal reduces remaining loan balance, significantly lowering interest accumulated.
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