What will your loan EMI be — and the total interest?
Enter the loan amount, interest rate and tenure to see your monthly EMI, the total interest, and how much you still owe at the end of each year.
Loan details
Monthly EMI:
Total interest: · Total paid:
% of everything you pay is interest
Year-by-year schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
Example EMIs
| Loan | Amount | Rate | Tenure | EMI | Total interest |
|---|---|---|---|---|---|
| Bike loan | ₹1,00,000 | 10% | 2 yr | ₹4,614 | ₹10,748 |
| Personal loan | ₹2,00,000 | 11% | 3 yr | ₹6,548 | ₹35,719 |
| Car loan | ₹6,00,000 | 9% | 5 yr | ₹12,455 | ₹1,47,301 |
| Education loan | ₹5,00,000 | 9.5% | 7 yr | ₹8,172 | ₹1,86,447 |
| Home loan | ₹30,00,000 | 8.5% | 20 yr | ₹26,035 | ₹32,48,328 |
These rates are examples only. Enter the rate your bank offers in the calculator above.
⚠️ Watch out for loan-app fraud
- Apps or callers who ask for a "processing fee" before paying out the loan are usually scams.
- Do not install instant-loan apps that want access to your contacts or photos.
- If you are threatened, call 1930. Check doubtful messages with our scam checker.
FAQ
How is EMI calculated?
Banks use the reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months.
Why does most of the early EMI go to interest?
Interest is charged on the balance you still owe. Early on that balance is large, so most of the EMI is interest; the principal share grows every month.
Is a longer tenure better?
The EMI falls but the total interest rises a lot. Try both tenures in the calculator and compare the total interest.
Will this match the EMI my bank quotes?
Usually, yes. Processing fees, insurance, rounding and the first EMI date can shift it by a few rupees. This is a calculation, not loan advice.
