EMI Calculator
Calculate monthly EMI for home loans, car loans, and personal loans.
Calculate your monthly loan EMI for any home loan, car loan, or personal loan in India. Enter the principal amount, annual interest rate, and tenure — get your EMI, total interest payable, and a full year-by-year amortization schedule instantly. All calculations happen in your browser, no signup required.
Loan Amount₹30.00 L
₹
Interest Rate8.5% p.a.
%
Loan Tenure20 yr
Principal 48.01%Interest 51.99%
Principal amount₹30,00,000.00
Total interest (51.99% of total)₹32,48,328.00
Total amount payable₹62.48 L
Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | ₹59,707 | ₹2.53 L | ₹29.40 L |
| Year 2 | ₹64,984 | ₹2.47 L | ₹28.75 L |
| Year 3 | ₹70,728 | ₹2.42 L | ₹28.05 L |
| Year 4 | ₹76,980 | ₹2.35 L | ₹27.28 L |
| Year 5 | ₹83,785 | ₹2.29 L | ₹26.44 L |
| Year 6 | ₹91,190 | ₹2.21 L | ₹25.53 L |
| Year 7 | ₹99,251 | ₹2.13 L | ₹24.53 L |
| Year 8 | ₹1.08 L | ₹2.04 L | ₹23.45 L |
| Year 9 | ₹1.18 L | ₹1.95 L | ₹22.28 L |
| Year 10 | ₹1.28 L | ₹1.84 L | ₹21.00 L |
| Year 11 | ₹1.39 L | ₹1.73 L | ₹19.61 L |
| Year 12 | ₹1.52 L | ₹1.61 L | ₹18.09 L |
| Year 13 | ₹1.65 L | ₹1.47 L | ₹16.44 L |
| Year 14 | ₹1.80 L | ₹1.33 L | ₹14.64 L |
| Year 15 | ₹1.95 L | ₹1.17 L | ₹12.69 L |
| Year 16 | ₹2.13 L | ₹99,701 | ₹10.56 L |
| Year 17 | ₹2.32 L | ₹80,899 | ₹8.25 L |
| Year 18 | ₹2.52 L | ₹60,435 | ₹5.73 L |
| Year 19 | ₹2.74 L | ₹38,162 | ₹2.98 L |
| Year 20 | ₹2.98 L | ₹13,921 | ₹0 |
Frequently Asked Questions
- What is the EMI for a ₹30 lakh home loan at 8.5% for 20 years?
- The monthly EMI for a ₹30 lakh loan at 8.5% annual interest for 20 years is approximately ₹26,035. Total interest paid over the tenure would be around ₹32.5 lakh.
- How is EMI calculated?
- 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), and n is the number of monthly instalments.
- Does prepaying a loan reduce EMI or tenure?
- It depends on your bank's policy. Most lenders allow you to choose between reducing your EMI amount or shortening the loan tenure. Reducing tenure saves more interest overall.
- What is the difference between flat rate and reducing balance EMI?
- Flat rate EMI calculates interest on the full principal for the entire tenure. Reducing balance calculates interest only on the outstanding principal — making it significantly cheaper. Most bank loans use reducing balance.
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