EMI calculator

Default result

A ₹30.00 L loan at 8.5% for 20 years works out to an EMI of about ₹26,035. You repay ₹62.48 L in all, ₹32.48 L of it interest.

Year-wise table

Computed from the same engine as the calculator above, using the default inputs. Figures are illustrations, not guarantees.

How to use this calculator

1. Enter the loan principal.
2. Set the annual interest rate and tenure in years.
3. Read EMI, total interest and the amortisation checkpoints.

Formula and worked example

EMI = P·r·(1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly interest rate (annual ÷ 12) and n is the number of monthly instalments — Groww and Indian banking standard (not the SIP effective-monthly rate).

EMI = P × i × (1+i)ⁿ ÷ ( (1+i)ⁿ − 1 )
  P = loan amount   i = annual rate ÷ 12   n = years × 12
Total paid = EMI × n.   Total interest = Total paid − P.

Worked example. ₹30,00,000 · 8.5% · 20 years → EMI ₹26,035, total interest ₹32.48 L, total repaid ₹62.48 L.

Examples

Common Indian retail queries. Outputs are generated from lib/finance.js at build time.

Assumptions and limits

• Reducing-balance interest — the standard for Indian retail loans.
• Fixed rate for the full tenure; no prepayment, processing fee or insurance.
• Reducing-balance EMI with monthly rate = annual ÷ 12.
• Rate used here: whatever you type (illustration—confirm the current lender rate before signing).
• Ignores processing fees, insurance add-ons and prepayments.

Results are illustrations. Actual outcomes depend on markets, interest rates, taxes and charges, none of which are guaranteed.

Home loan EMI calculator

Home loan EMIs dominate many household budgets. A ₹30 lakh loan at 8.5% for 20 years needs about ₹26,035 every month, with total interest near ₹32.48 lakh. Stretching tenure lowers EMI but raises lifetime interest—run both. Confirm the lender’s current card rate; the figure you type is not a live bank feed. Keep FOIR comfortable so a rate reset does not break cash flow. Write the emi inputs you trust into your annual review note so next year’s rerun of “Home loan EMI calculator” starts from recorded figures.

Car loan EMI calculator

Car loans are shorter and often costlier than home loans. Use the same EMI engine with your on-road funded amount, dealer rate and tenure. Scaling from the ₹30 lakh / 8.5% / 20y illustration (₹26,035 EMI) shows why smaller principals and shorter tenures matter for depreciating assets. Avoid balloon tenures that outlast the car’s useful life. Cross-check insurance and extended warranty costs outside this calculator. When household opinions differ on risk for emi under “Car loan EMI calculator”, fund the more conservative case first and treat any extra debit as optional top-ups.

Using the EMI calculator with Indian rupee inputs

Enter principal in rupees, annual interest percent and tenure in years. The amortisation follows standard Indian reducing-balance maths. For ₹30 lakh at 8.5% over 20 years, EMI is about ₹26,035 and total payment about ₹62.48 lakh. Prepayments reduce interest but are not modelled automatically—rerun with a lower principal to approximate a part-prepayment. Fees charged upfront should be added to cost of borrowing mentally. If the emi instalment for “Using the EMI calculator with Indian rupee inputs” looks unaffordable, cut the target or add years before you inflate the assumed return unrealistically.

Frequently asked questions