Calculate your loan EMI, total interest and full repayment schedule for home, car, education and personal loans.
An Equated Monthly Instalment (EMI) is the fixed amount you pay your lender every month until your loan is repaid. Each EMI covers part of the interest and part of the principal. Early EMIs are mostly interest; later EMIs are mostly principal.
For example, a loan of 10,00,000 at 8.5% for 20 years has an EMI of about 8,678.
Choose a longer tenure, negotiate a lower interest rate, or make a larger down payment. A longer tenure lowers the EMI but increases the total interest you pay.
Most lenders let you choose. Keeping the EMI and cutting the tenure usually saves more interest. Use our Loan Calculator to model extra repayments.
For a fixed rate the EMI stays the same. For a floating rate, the EMI or the tenure changes when the lender's benchmark rate changes.