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Money & CalculatorsFree online tool
Estimate the monthly EMI, total interest and total repayment on a home, car or personal loan using the reducing-balance method.
Quick answer: EMI is the fixed amount you pay each month on a loan. For ₹10,00,000 at 8.5% a year over 5 years, the EMI is about ₹20,517, with total interest of about ₹2,30,992. Enter your own amount, rate and tenure above.
Calculator results are estimates. Check important financial, tax or market figures against the relevant current official source or professional advice.
Enter the values you want to calculate, then review the estimate below.
Related guideFinance Guide
Learn how loan EMI is calculated, understand the principal, interest rate and tenure, and check a monthly payment with a simple example.
Read guideUse the controls above, check the result, then copy or download it when available.
This calculator uses the standard reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n - 1). P is the loan amount, r is the monthly interest rate (the annual rate divided by 12 and by 100) and n is the number of monthly instalments (years × 12).
Each EMI covers that month's interest on the balance still owed plus part of the principal. Early instalments are mostly interest and later ones mostly principal. At a 0% rate the EMI is simply the loan amount divided by the number of months.
| Loan amount | ₹10,00,000 |
|---|---|
| Interest rate | 8.5% a year (about 0.7083% a month) |
| Tenure | 5 years (60 monthly instalments) |
| Monthly EMI | ₹20,517 |
| Total interest | ₹2,30,992 |
| Total repayment | ₹12,30,992 |
Figures are rounded to the nearest rupee and come from the same formula the calculator uses. A lender's schedule can differ slightly because of rounding rules and fees.
A longer tenure lowers the monthly EMI but raises the total interest, because you owe the money for longer. On the same ₹10,00,000 at 8.5%, a 5-year loan has an EMI of about ₹20,517 and total interest of about ₹2,30,992, while a 10-year loan has an EMI of about ₹12,399 and total interest of about ₹4,87,828.
Your lender's sanction letter shows the actual rate, fees and schedule. Since 2024 the RBI has required regulated lenders to give borrowers a Key Facts Statement for retail and MSME term loans, which includes the annual percentage rate (APR) and the repayment schedule. Compare that statement with this estimate, and look at processing fees, insurance and whether the rate is fixed or floating.
Last reviewed 24 October 2026. The example figures were produced with this calculator's own formula. Results are estimates for general information and are not financial, tax or legal advice.
No. It is an estimate based on the inputs and standard EMI mathematics.
Use this tool whenever you need: Comparing loan scenarios before discussing the actual terms with a lender. It offers a fast, client-side workflow without sign-ups, installation or complex software.
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Use the lender's exact annual rate, tenure and principal, and compare the result with the lender's official amortization schedule. Important note: Processing fees, insurance, taxes, floating rates and lender-specific rounding may change the actual payment.
Use EMI = P × r × (1 + r)^n ÷ ((1 + r)^n - 1), or enter the loan amount, yearly rate and tenure in the calculator above.
Yes. A shorter tenure raises the EMI but cuts total interest. Choose the shortest tenure whose EMI you can pay comfortably.
Usually yes, because prepaying lowers the balance and less interest builds up afterwards. Check your lender's prepayment rules and charges. This calculator does not model prepayments.
No. This estimate covers principal and interest only. Fees, insurance and taxes are separate and can raise the real cost.
Finance utility
Enter the loan details to see the monthly payment and total interest.
1. Loan details
Enter a loan amount from ₹1 to ₹100 crore, an interest rate from 0% to 100%, and a whole number of years from 1 to 100.
Quick loan amount
Start with a common amount, then adjust it above.
Quick tenure
Pick a common repayment period.
2. Your estimate
Monthly EMI
₹20,517
Estimated monthly payment
Total interest
₹2,30,992
Interest over the full tenure
Total payment
₹12,30,992
Principal + interest
Calculated using monthly reducing-balance interest. Estimate only. Lender fees, taxes, insurance, prepayments and repayment rules can change your actual payment.