Free tool
EMI calculator
Work out the monthly EMI, total interest and total cost of any reducing-balance loan in seconds.
Works for home, car, personal or any reducing-balance loan. EMI stays fixed; early months are mostly interest, later months mostly principal.
Over 20 years you repay ₹53,98,355.74, of which ₹28,98,355.74 is interest.
How EMIs are calculated
An EMI (Equated Monthly Instalment) is the fixed amount you pay each month on a loan. It uses the reducing-balance formula: EMI = P × r × (1+r)ⁿ ⁄ ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate and n is the number of months. The instalment stays constant, but early payments are mostly interest and later ones mostly principal.
Comparing a shorter tenure against a longer one is the fastest way to see how much interest a loan really costs. Many traders fund their capital partly through loans, knowing the true monthly outflow keeps your risk budgeting honest.
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