EMI calculator
Enter a loan amount, rate and tenure to get the monthly instalment and what the loan costs you in all.
Monthly EMI
₹21,494
- Total interest
- ₹2,89,634
- Total repaid
- ₹12,89,634
- Interest ÷ loan
- 29.0%
- Principal₹10,00,00078%
- Interest₹2,89,63422%
Repayment schedule
| Year | Principal | Interest | Balance left |
|---|---|---|---|
| 1 | ₹1,60,505 | ₹97,421 | ₹8,39,495 |
| 2 | ₹1,78,194 | ₹79,733 | ₹6,61,301 |
| 3 | ₹1,97,831 | ₹60,096 | ₹4,63,470 |
| 4 | ₹2,19,633 | ₹38,294 | ₹2,43,837 |
| 5 | ₹2,43,837 | ₹14,090 | ₹0 |
How it's worked out
The EMI stays the same each month, but its make-up changes. Early on most of it is interest, because the balance is at its highest. As the balance falls, more of each EMI goes to principal.
The formulaEMI = P × i × (1 + i)ⁿ ÷ ((1 + i)ⁿ − 1), where P is the loan, i is the yearly rate ÷ 12 and n is the number of months.
Common questions
Does this include processing fees?
No. Fees, insurance and other charges are extra, so the true cost is higher than the interest shown here.
Is a longer tenure better?
It lowers the EMI but raises total interest. Compare the 'Total interest' figure at both tenures before you choose.
What about floating rates?
The sums assume one rate throughout. If the rate moves, banks usually change the tenure first, and sometimes the EMI.
More loans calculators
All calculatorsIllustrative figures only, from the numbers you enter and the assumptions stated above. Rates and rules change, so check them with the provider or a qualified adviser before acting. Arthscan is not a SEBI-registered research analyst or investment adviser, and nothing here is investment advice.