EMI Calculator – Kitna EMI Banega? (Oct 2026)
Enter the loan amount, interest rate and tenure to see your monthly EMI, total interest and year-by-year repayment schedule. Works for home, personal, car, bike and education loans.
EMI calculators by loan type
Popular EMI lookups
₹20 Lakh home loan₹30 Lakh home loan₹50 Lakh home loan₹1 Crore home loan₹5 Lakh personal loan₹10 Lakh personal loan₹2 Lakh personal loan₹5 Lakh car loan₹10 Lakh car loan₹1 Lakh bike loan₹10 Lakh education loan
How EMI works
Every EMI has two parts: interest on what you still owe, and a slice of the principal. In the early years most of the EMI goes to interest; as the balance falls, more goes to principal. That is why prepaying early in the loan saves the most interest.
Frequently asked questions
What is an EMI?
An Equated Monthly Instalment is the fixed amount you pay the lender every month until a loan is repaid. Each EMI contains interest on the outstanding balance plus a part of the principal; early EMIs are mostly interest, later ones mostly principal.
What is the EMI formula?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). P is the loan amount, r the monthly rate (annual rate ÷ 1200) and n the number of months.
How can I reduce my EMI?
Take a longer tenure, negotiate a lower rate (a credit score above 750 helps), make a bigger down payment, or prepay part of the principal when you can.
Is a longer tenure better?
It lowers the EMI but raises total interest a lot. For example, ₹30 lakh at 7.5% costs about ₹20 lakh in interest over 15 years but about ₹36.5 lakh over 25 years.
Does the EMI change if rates change?
On a floating-rate loan, when the bank changes its rate it usually keeps the EMI the same and extends the tenure. You can ask the bank to raise the EMI instead, which saves interest.