Calculate Loan EMI with Full Amortization
Home, car, personal, and education loan EMIs. Monthly schedule, total interest, and year-wise breakdown.
Loan Details
240 months
Monthly EMI
₹43,391
for 20 years (240 months)
Principal
₹50.00L
Total Interest
₹54.14L
Total Payment
₹1.04Cr
Amortization Schedule
Balance
₹49.00L
Paid so far
₹5.21L
Balance
₹46.74L
Paid so far
₹15.62L
Balance
₹44.06L
Paid so far
₹26.03L
Balance
₹35.00L
Paid so far
₹52.07L
Balance
₹21.15L
Paid so far
₹78.10L
Balance
₹101.55
Paid so far
₹1.04Cr
EMI calculated using the standard reducing-balance method. Actual bank EMI may vary slightly.
How to use the EMI calculator
- Select a loan preset (Home, Car, Personal, Education) or adjust the sliders manually.
- Set the loan amount — what you plan to borrow.
- Set the interest rate — check your bank's current rate.
- Set the tenure — longer tenure means lower EMI but more total interest.
- Switch to the Schedule tab to see the full month-by-month amortization table.
Tips to reduce your loan interest burden
- Higher down payment — borrow less to pay less interest overall.
- Shorter tenure — the EMI is higher but total interest paid is much lower.
- Prepayments — even one extra EMI per year dramatically shortens the loan.
- Good credit score — a CIBIL score above 750 qualifies for lower interest rates.
- Compare lenders — a 0.5% difference in rate on a ₹50L home loan saves ~₹5L over 20 years.
Frequently asked questions
EMI (Equated Monthly Instalment) is the fixed amount you pay to a lender every month to repay a loan. Each EMI consists of two parts: a principal component that reduces your outstanding loan, and an interest component charged on the remaining balance.
EMI = [P × R × (1+R)^N] ÷ [(1+R)^N − 1], where P is the principal loan amount, R is the monthly interest rate (annual rate ÷ 12 ÷ 100), and N is the number of monthly instalments (tenure in months).
An amortization schedule is a month-by-month table showing how each EMI is split between principal and interest, and what the outstanding loan balance is after each payment. In early months, most of the EMI goes toward interest. Over time, the principal component increases.
Yes, significantly. Making a partial prepayment reduces your outstanding principal, which lowers the interest charged in subsequent months. You can either reduce your EMI or keep the same EMI and shorten the tenure — reducing tenure saves more total interest.
Home loan interest rates in India typically range from 8.35% to 9.5% per annum (as of 2024), depending on the bank and your credit score. Use the preset or enter your bank's offered rate to calculate your exact EMI.
Flat rate interest is calculated on the full principal throughout the tenure — higher effective cost. Reducing balance (used by most banks) calculates interest only on the outstanding principal after each payment — fairer and standard for home, car, and personal loans. This calculator uses the reducing balance method.
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