ToolPilot
EMI calculator
Enter your loan amount, interest rate, and tenure to see monthly EMI and full repayment breakdown in Indian Rupees.
Loan details
₹25,00,000
Results
240 monthly instalments
- Monthly EMI
- ₹24,959.50
- Total interest
- ₹34,90,279
- Total payment
- ₹59,90,279
Principal vs interest
Share of what you repay over the loan term
How it works
EMI (Equated Monthly Instalment) uses the standard reducing-balance formula: EMI = P × r × (1 + r)n / ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months. Early in the loan, a larger portion of each EMI is interest; over time, more goes toward principal.
FAQ
Does this EMI calculator match my bank’s quote?
Banks may add processing fees, insurance, or daily/annual rest rules. This tool uses a standard monthly rest EMI formula—use it for planning; confirm final numbers with your lender.
What loan amounts does the EMI calculator support?
You can enter principal from ₹1 lakh up to ₹5 crore, with tenure from 1–30 years or 12–360 months and interest between 1% and 30% per annum.
Why is total interest so high on long tenures?
Interest accrues on the outstanding balance each month. Longer tenure means you borrow the bank’s money for more months, so total interest increases even if EMI is lower.
Can I use this for home, car, and personal loans?
Yes. The same EMI formula applies to any fixed-rate loan amortised in equal monthly payments, as long as your product follows this structure.