Loan EMI calculator
Enter the loan amount, the interest rate and the tenure.
How it is calculated
EMI = P × i × (1 + i)n / ((1 + i)n − 1), where P is the loan, i the yearly rate ÷ 12 and n the number of months. Interest is charged every month on the balance still outstanding (reducing balance).
Worked example
A ₹50 lakh home loan at 8.5% for 20 years has an EMI of ₹43,391; total interest is ₹54.14 lakh.
Common questions
How is EMI calculated?
EMI = P × i × (1 + i)^n / ((1 + i)^n − 1), with i = yearly rate ÷ 12 and n = months. A ₹10 lakh loan at 10% for 20 years has an EMI of ₹9,650.
Should I prepay my home loan or invest?
Compare the loan rate after tax benefits with the return you can reasonably expect after tax. Prepaying gives a certain saving equal to the loan rate; investing may earn more but is not guaranteed.
Does a longer tenure reduce total interest?
No. A longer tenure lowers the EMI but raises total interest, because the balance is paid down more slowly.
Illustrations only, not investment or tax advice. Mutual fund returns are not guaranteed and can be negative; the assumed return is yours to choose. Talk to us before acting on a tax estimate.
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