Loan planning tool
Estimate your monthly loan payment, total interest, and repayment schedule before you borrow.
Repayment summary
Your EMI breakdown will appear here
Enter the loan amount, annual interest rate, and repayment tenure.
Loan guide
Use the EMI formula and practical repayment guidance to compare loans more confidently.
EMI formula
P
Loan principal
r
Monthly rate
n
Payments
The monthly rate is the annual percentage rate divided by 12 and then by 100. This estimate does not include processing fees, insurance, taxes, or lender-specific charges.
Better borrowing
Compare the total interest
A lower EMI can still cost more when the tenure is longer.
Make principal prepayments
Reducing the balance early can save more future interest.
Keep EMI affordable
Leave room in your budget for emergencies and rate changes.
Helpful answers
EMI stands for Equated Monthly Instalment. It is the fixed amount paid to a lender each month and normally includes both principal repayment and interest.
EMI is calculated from the loan principal, monthly interest rate, and number of monthly payments. A reducing-balance formula is used so the interest portion falls as the outstanding balance decreases.
A longer tenure usually lowers the monthly EMI, but it also increases the total interest paid over the life of the loan. Compare both affordability and total cost before choosing.
For the same principal and tenure, a higher interest rate increases both the EMI and total interest. Floating-rate loans may change their EMI or tenure when benchmark rates move.
Yes. A principal prepayment reduces the outstanding balance on which future interest is calculated. Check whether your lender applies prepayment charges or restrictions.
An amortization schedule shows how every payment is divided between principal and interest, along with the outstanding loan balance after each payment.
Practical guidance
Estimate monthly loan EMI, total interest and repayment. Explore monthly or yearly amortization and download a schedule for a fixed-rate scenario.
For ₹10,00,000 at 9% per year for 10 years (120 months), monthly EMI is ₹12,667.58, total interest ₹5,20,109.29 and total repayment ₹15,20,109.29. Summary cards round these to ₹12,668, ₹5,20,109 and ₹15,20,109.
The projection keeps the rate constant and assumes monthly payments. It excludes fees, insurance, missed payments, rate resets and prepayments. Summary amounts use whole rupees; detailed values use two decimals, with unrounded values retained in the calculation.
Each payment covers interest on the opening balance, then reduces principal. Interest usually falls through the schedule. The final payment clears the remaining balance; displayed rows can differ slightly when added after rounding.
Enter the amount borrowed in rupees, annual interest percentage, and tenure in the selected years or months unit. Use the contractual reducing-balance rate, not a flat rate or an APR containing fees.
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1). P is principal, r is annual percentage / 1200, and n is the number of monthly payments. At 0%, EMI = P / n.
Compare both total interest and EMI when changing tenure. Loan offers a compact version of the same basic estimate. A lender may alter EMI or tenure on a floating-rate reset; this schedule does not predict those changes.
There is no prepayment input yet. Changing the original principal is not equivalent to making a payment partway through a loan. Ask the lender for a revised schedule for that date.
Guide checked against the web calculator by an automated coding assistant. Independent professional review is not recorded.
Substantive guide update: .