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EMI calculator
Work out your monthly payment, see the total interest, and find out how much a small extra payment can save.
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How EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (the yearly rate divided by 12, then by 100) and n is the number of months.
For example, ₹50,00,000 at 8.5% for 20 years gives an EMI of about ₹43,391. Over the full period you would pay about ₹54.1 lakh in interest, which is more than the loan itself.
Why early payments matter most
Interest is charged on what you still owe. In the early years most of your EMI goes to interest, so any extra payment then removes more future interest than the same payment made later. Type an amount in the extra payment box to see the effect on your own loan.
This is an estimate. Your bank's figures can differ because of processing fees, floating rate changes, insurance and prepayment terms. Check your sanction letter before deciding.
Questions
Does this work for home, car and personal loans?
Yes. It uses the reducing balance method that most Indian lenders use for these loans. Enter the amount, rate and period from your offer.
Why does the schedule shorten when I add an extra payment?
Extra money goes straight to the amount you owe, so the loan finishes sooner while the EMI stays the same.
Are my numbers saved?
No. Everything is worked out in your browser and is gone when you close the page.
