Calculate your monthly EMI, total interest, and plan your loan repayment. Make informed borrowing decisions.
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Monthly EMI
₹17,356
Total Interest Payable
₹21,65,552
Total Payment (Principal + Interest)
₹41,65,552
Principal Amount
₹20,00,000
EMI (Equated Monthly Installment) is a fixed payment you make every month to repay your loan. It includes both principal and interest components.
See how prepayments can reduce your loan tenure and save lakhs in interest. Calculate the impact of part payments!
Home Loan
8% – 9% p.a. | 15 – 30 years
Car Loan
8% – 10% p.a. | 3 – 7 years
Personal Loan
10% – 16% p.a. | 1 – 5 years
Education Loan
8% – 12% p.a. | 5 – 15 years
EMI (Equated Monthly Installment) is the fixed amount you pay every month towards your loan repayment. Understanding how EMI works helps you make better borrowing decisions and plan your finances effectively.
EMI is calculated using the formula:
EMI = [P × r × (1 + r)n] / [(1 + r)n − 1]P = Principal loan amount
r = Monthly interest rate
n = Loan tenure in months
Your EMI is determined by three factors: loan amount, interest rate, and tenure. Lower interest rate or longer tenure reduces EMI but may increase total interest paid. Use this calculator to find the right balance for your budget.
Source: Reserve Bank of India | Last reviewed: 2026-02-28
Source: SEBI Investor Portal | Last reviewed: 2026-02-28
Estimate monthly installment, total payment, and total interest.
Input the amount you plan to borrow.
Use lender quoted interest rate for the loan type.
Choose repayment period in years.
Review monthly EMI, total interest, and total repayment amount.
EMI includes both principal repayment and interest. In early months, interest is usually higher; principal share increases over time.
Higher interest rates raise EMI, while longer tenure lowers monthly EMI but can increase total interest paid across the full loan period.
Yes. Change principal, rate, and tenure values to compare monthly EMI and total interest before selecting a lender.