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Loan EMI Calculator

Break down a loan's monthly EMI, total interest paid, and total amount payable over its full tenure.

Loan EMI calculator

Break down a loan's monthly EMI, total interest, and total payable amount.

Projection
InvestedOutstanding
013.5L27.0L40.5L54.0LY1Y3Y5Y7Y9Y11Y13Y15Y17Y19Y20
💡 A parallel SIP of ₹2,901/mo (12% p.a. assumed) could roughly offset your total interest by loan-end. Estimate only, not guaranteed.
Inputs
Loan Amount₹25.00 L
Tenure20 Yr
Interest (p.a.)9%
Monthly EMI₹22,493
Total Interest₹28,98,356
Total Payable₹53,98,356

What is a Loan EMI?

An EMI (Equated Monthly Installment) is the fixed monthly payment a borrower makes to repay a loan, covering both principal and interest, over an agreed tenure. This calculator computes the EMI for a given loan amount, tenure, and interest rate, and shows the full cost of the loan, not just the monthly figure.

How is it calculated?

EMI = P × r × (1+r)n / [ (1+r)n − 1 ]P = loan principal · r = monthly interest rate (annual rate ÷ 12) · n = number of monthly installments.

Why use this calculator

  • Shows the true total cost of a loan, not just the monthly number
  • Makes it easy to compare loan offers at different rates or tenures side by side
  • Useful for checking loan affordability against a client's monthly surplus before they commit

Who should use it

Anyone evaluating a home, car, or personal loan, and advisors helping a client decide how a new EMI fits into their broader financial plan.

Frequently asked questions

Does a longer tenure always mean a cheaper loan?

It lowers the monthly EMI, but increases the total interest paid over the life of the loan. This calculator's breakdown makes that trade-off explicit.

What's the difference between reducing balance and fixed interest?

Reducing balance charges interest only on the outstanding principal, which falls each month: this is how nearly all mainstream loans work. Fixed interest charges the same rate on the full original principal for the entire tenure, which typically works out more expensive; it’s included here mainly for comparison.

Should I prepay a loan if I can?

Prepaying reduces the outstanding principal, which lowers future interest: often worth it for high-interest loans, less so for very low-interest ones where the money might earn more invested elsewhere. That trade-off is a separate decision from what this calculator shows.