EMI calculator
Work out the monthly instalment on a home, car or personal loan, and see how much of what you pay goes to interest.
- Monthly EMI
- ₹8,678.23
- Total interest
- ₹10,82,775.76₹10.8 lakh
- Total amount payable
- ₹20,82,775.76₹20.8 lakh
Year-by-year repayment schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹19,902 | ₹84,236 | ₹9,80,098 |
| 2 | ₹21,661 | ₹82,477 | ₹9,58,436 |
| 3 | ₹23,576 | ₹80,563 | ₹9,34,860 |
| 4 | ₹25,660 | ₹78,479 | ₹9,09,200 |
| 5 | ₹27,928 | ₹76,211 | ₹8,81,272 |
| 6 | ₹30,397 | ₹73,742 | ₹8,50,875 |
| 7 | ₹33,084 | ₹71,055 | ₹8,17,791 |
| 8 | ₹36,008 | ₹68,131 | ₹7,81,784 |
| 9 | ₹39,191 | ₹64,948 | ₹7,42,593 |
| 10 | ₹42,655 | ₹61,484 | ₹6,99,938 |
| 11 | ₹46,425 | ₹57,714 | ₹6,53,513 |
| 12 | ₹50,529 | ₹53,610 | ₹6,02,985 |
| 13 | ₹54,995 | ₹49,144 | ₹5,47,990 |
| 14 | ₹59,856 | ₹44,283 | ₹4,88,134 |
| 15 | ₹65,147 | ₹38,992 | ₹4,22,987 |
| 16 | ₹70,905 | ₹33,234 | ₹3,52,082 |
| 17 | ₹77,172 | ₹26,966 | ₹2,74,910 |
| 18 | ₹83,994 | ₹20,145 | ₹1,90,916 |
| 19 | ₹91,418 | ₹12,721 | ₹99,498 |
| 20 | ₹99,498 | ₹4,640 | ₹0 |
Estimates for illustration only. Actual returns and loan terms vary, and market-linked investments carry risk. This is not financial advice.
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Join the betaHow it's calculated
The monthly rate is the annual rate divided by 12, and the number of instalments is the tenure in months.
EMI = loan amount × monthly rate × (1 + monthly rate)^months ÷ ((1 + monthly rate)^months − 1). At 0% interest, the EMI is simply the loan amount divided by the number of months.
Each month, interest is charged on the balance still owed; the rest of the EMI reduces the balance. Total interest is the EMI times the number of months, minus the loan amount.
Questions
What is an EMI?
An equated monthly instalment is the fixed amount you pay each month until a loan is repaid. Early EMIs are mostly interest; later ones are mostly principal.
Why might my bank's EMI differ from this?
Banks may add processing fees, insurance or GST on charges, use a floating rate that changes over the loan, or count days differently. Use your loan agreement for the exact figure.
Does a longer tenure save money?
A longer tenure lowers the EMI but usually raises the total interest you pay, because the balance stays outstanding for longer. Compare the total interest for different tenures above.