EMI Calculator for Home, Car & Personal Loans
Calculate the monthly EMI on a home, car or personal loan, and see how much of your total repayment is interest.
Researched by Mirza Seraj BaigFacts last checked against official sources on 7 September 2026Annual rate quoted by the lender.
Monthly EMI
₹21,696
≈ 21.70 thousand
- Principal
- 48%
- Total interest
- 52%
- Principal
- ₹25,00,000
- Total interest
- ₹27,06,939
- Total payment
- ₹52,06,939
- Interest as share of payments
- 52.0%
- Number of EMIs
- 240
What is an EMI?
An EMI — equated monthly installment — is the fixed amount you pay a lender every month until a loan is repaid. Each EMI first covers that month's interest on what you still owe; the rest reduces the loan itself.
Because interest is charged on the outstanding balance, the early EMIs are mostly interest and the later ones mostly principal. Home loans, car loans and personal loans all use the same formula; what changes is the rate and the tenure.
How is EMI calculated?
EMI = [P × i × (1 + i)^n] ÷ [(1 + i)^n − 1], where P is the loan amount, i the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the tenure in months. Total interest is (EMI × n) − P.
EMI calculation example: ₹25 lakh home loan at 8.5% for 20 years
Take a home loan of ₹25,00,000 at 8.5% a year for 20 years, repaid in 240 EMIs. The monthly rate is 8.5 ÷ 12 ÷ 100 = 0.00708, and the formula gives an EMI of ₹21,696.
Over the 240 months you repay ₹52,06,939, of which ₹27,06,939 is interest — 52.0% of everything you pay. The interest alone is more than the amount borrowed.
Shorten the tenure to 15 years and the EMI rises to ₹24,618, but total interest falls to ₹19,31,328 — ₹7,75,611 less.
8.5% is an example rate, not a quote. Enter the rate your lender offers in the calculator above for your own figure.
Home loan EMI schedule, year by year
For the ₹25,00,000 loan above: how much of each year's EMIs repaid the loan, how much was interest, and what was still owed at the end of the year.
| Year | Principal repaid | Interest paid | Balance owed |
|---|---|---|---|
| 1 | ₹49,756 | ₹2,10,591 | ₹24,50,244 |
| 2 | ₹54,154 | ₹2,06,193 | ₹23,96,091 |
| 3 | ₹58,940 | ₹2,01,407 | ₹23,37,150 |
| 4 | ₹64,150 | ₹1,96,197 | ₹22,73,000 |
| 5 | ₹69,820 | ₹1,90,527 | ₹22,03,180 |
| 6 | ₹75,992 | ₹1,84,355 | ₹21,27,188 |
| 7 | ₹82,709 | ₹1,77,638 | ₹20,44,479 |
| 8 | ₹90,020 | ₹1,70,327 | ₹19,54,459 |
| 9 | ₹97,977 | ₹1,62,370 | ₹18,56,482 |
| 10 | ₹1,06,637 | ₹1,53,710 | ₹17,49,846 |
| 11 | ₹1,16,063 | ₹1,44,284 | ₹16,33,783 |
| 12 | ₹1,26,321 | ₹1,34,026 | ₹15,07,462 |
| 13 | ₹1,37,487 | ₹1,22,860 | ₹13,69,974 |
| 14 | ₹1,49,640 | ₹1,10,707 | ₹12,20,335 |
| 15 | ₹1,62,866 | ₹97,480 | ₹10,57,468 |
| 16 | ₹1,77,262 | ₹83,085 | ₹8,80,206 |
| 17 | ₹1,92,931 | ₹67,416 | ₹6,87,275 |
| 18 | ₹2,09,984 | ₹50,363 | ₹4,77,291 |
| 19 | ₹2,28,545 | ₹31,802 | ₹2,48,746 |
| 20 | ₹2,48,746 | ₹11,601 | ₹0 |
Frequently asked questions
How is EMI calculated?
EMI = [P × i × (1 + i)^n] ÷ [(1 + i)^n − 1], where P is the loan amount, i is the monthly interest rate and n is the number of monthly installments. The EMI stays constant, but the split between interest and principal shifts towards principal over time.
Does a longer tenure reduce my EMI?
Yes, but it increases the total interest you pay. The calculator shows interest as a share of total payments, which makes the trade-off visible — stretching a loan can cut the monthly figure while adding lakhs to the total cost.
What happens to my EMI if interest rates change?
On floating rate loans, a rate change usually alters either the EMI or the tenure. The RBI requires lenders to have a clear policy on this and to communicate the options to borrowers, rather than silently extending the tenure.
Is this EMI figure exactly what my bank will charge?
It is the standard formula every lender uses, so it should be very close. Actual EMIs can differ slightly because of processing fees, insurance added to the loan, the exact disbursement date, or day-count conventions.
What is the EMI on a ₹10 lakh personal loan?
At an example rate of 12% a year over 5 years, a ₹10,00,000 loan costs ₹22,244 a month, with ₹3,34,667 of interest in total. Personal loan rates vary widely between lenders and borrowers, so enter your own offer in the calculator.
What is the EMI on an ₹8 lakh car loan?
At an example rate of 9% a year over 7 years, ₹12,871 a month, with ₹2,81,186 of interest over the life of the loan.
What is the EMI on a ₹50 lakh home loan?
At an example rate of 8.5%, ₹43,391 a month over 20 years, or ₹38,446 over 30 years. The 30-year loan has the lower EMI but costs ₹34,26,564 more in interest.