EMI / Loan Calculator

Calculate monthly EMI, total interest and total payment for a home, car or personal loan, with a yearly table.

Loan amount (₹)

Interest rate (% per year)

Loan tenure

Monthly EMI

₹8,678.23

Principal amount: ₹10,00,000.00
Total interest: ₹10,82,775.76
Total payment: ₹20,82,775.76

Year	Principal	Interest	Balance
1	₹19,902.29	₹84,236.50	₹9,80,097.71
2	₹21,661.47	₹82,477.31	₹9,58,436.23
3	₹23,576.15	₹80,562.64	₹9,34,860.08
4	₹25,660.07	₹78,478.72	₹9,09,200.02
5	₹27,928.18	₹76,210.60	₹8,81,271.83
6	₹30,396.78	₹73,742.01	₹8,50,875.05
7	₹33,083.58	₹71,055.21	₹8,17,791.47
8	₹36,007.87	₹68,130.92	₹7,81,783.60
9	₹39,190.64	₹64,948.15	₹7,42,592.96
10	₹42,654.73	₹61,484.05	₹6,99,938.23
11	₹46,425.02	₹57,713.76	₹6,53,513.20
12	₹50,528.57	₹53,610.21	₹6,02,984.63
13	₹54,994.84	₹49,143.95	₹5,47,989.79
14	₹59,855.88	₹44,282.90	₹4,88,133.91
15	₹65,146.60	₹38,992.19	₹4,22,987.31
16	₹70,904.97	₹33,233.82	₹3,52,082.34
17	₹77,172.32	₹26,966.47	₹2,74,910.02
18	₹83,993.65	₹20,145.14	₹1,90,916.37
19	₹91,417.93	₹12,720.86	₹99,498.44
20	₹99,498.44	₹4,640.35	₹0.00

About This Tool

NinjaFunction's EMI Calculator finds the monthly instalment for a reducing-balance loan. Enter the loan amount, the yearly interest rate and the tenure in years or months. It shows your EMI, the total interest and the total payment, and a year-by-year table of principal paid, interest paid and the balance left. Nothing is sent to a server.

🔑 How to Use

Enter the loan amount in rupees.
Enter the yearly interest rate.
Set the tenure in years or months.
Read your EMI, the total interest and the total payment.
Open the yearly table to see how the balance falls.

💡 Pro Tips

✔ Try a shorter tenure and compare the total interest.
✔ Part-payments early in the loan save the most interest, because early EMIs are mostly interest.
✔ Planning to invest instead? Try the SIP / Compound Interest Calculator.

Example

Loan	Rate	Tenure	EMI
₹10,00,000	8.5%	20 years	₹8,678
₹5,00,000	10%	5 years	₹10,624
₹20,00,000	9%	15 years	₹20,285

What Is in Your EMI?

Every EMI is split into interest and principal. In the early years most of your payment is interest, because the balance is still large. As the balance falls, more of each payment goes to the principal. The yearly table in the result shows this: look at how the principal column grows and the interest column shrinks.

Tenure vs Total Interest

Loan: ₹10,00,000 at 9%	EMI	Total interest
10 years	₹12,668	₹5,20,109
15 years	₹10,143	₹8,25,680
20 years	₹8,997	₹11,59,342

How to Lower the Interest You Pay

Choose the shortest tenure you can afford. A higher EMI saves a lot of interest.
Make part-payments early. Money paid in the first years cuts the balance when interest is highest.
Compare rates. A difference of 0.5% on a 20-year loan can be lakhs of rupees.
Check the fees. Processing fees, insurance and prepayment charges are not in this calculator.

Before You Take a Loan

Keep your total EMIs at or below about 40% of your monthly income, a common rule lenders use.
Keep an emergency fund so one missed month does not become a default.
Ask the lender whether the rate is fixed or floating, and what happens if it changes.
Read the loan agreement for prepayment and foreclosure charges.

Frequently Asked Questions

What is EMI?

EMI (Equated Monthly Instalment) is the fixed amount you pay your lender each month until the loan is repaid. Each EMI covers some interest and some principal.

How is EMI calculated?

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of months.

Does a longer tenure lower the EMI?

Yes, the monthly amount falls, but you pay much more interest in total. Compare a few tenures before you decide.

Will my bank's figure match exactly?

It should be very close. Banks may round differently or add processing fees, insurance or a different day-count, so treat this as a close estimate.

Does this work for floating-rate loans?

It assumes one fixed rate for the whole loan. If your rate changes, run the calculator again with the new balance and rate.

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