Calculate the EMI (Equated Monthly Installment) for a home, car, or personal loan in India. See your monthly payment, total interest, and total cost.
Estimates only. This tool is provided for educational purposes and is not financial advice. It models the figures you enter — it does not know your credit terms, local taxes, or fees. Talk to a licensed adviser before making a decision.
A ₹10,00,000 (≈ $1,000,000) loan at 9% for 10 years (120 months).
Monthly EMI: $12,668. Over 10 years you repay about $1,520,109 total, of which $520,109 is interest.
EMI (Equated Monthly Installment) is the fixed monthly payment that pays off a loan with interest over its tenure. Each payment covers part principal and part interest, with the interest share falling over time.
EMI = P × r × (1+r)n / ((1+r)n − 1)
Where P is principal, r the monthly rate (annual ÷ 12), and n the number of months.
Why does my first EMI go mostly to interest?
Early payments cover accrued interest first; principal reduction accelerates later. That's standard amortization.
Can I prepay without penalty?
Many Indian floating-rate loans allow prepayment without penalty; check your sanction letter. Prepaying early saves the most interest.
Does this include processing fees?
No. Lenders add processing fees and sometimes insurance, which raise the effective cost above the EMI shown.