07 / EMI calculator
Work out the monthly EMI before you sign.
Enter the loan amount, yearly interest rate, and tenure. The calculator uses the reducing-balance formula used by Indian banks and shows the interest you pay each year.
- Monthly EMI
- ₹20,758.36
- Total interest
- ₹2,45,501.23
- Total payment
- ₹12,45,501.23
- Instalments
- 60
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,65,830.09 | ₹83,270.23 | ₹8,34,169.91 |
| 2 | ₹1,81,386.09 | ₹67,714.23 | ₹6,52,783.82 |
| 3 | ₹1,98,401.35 | ₹50,698.97 | ₹4,54,382.47 |
| 4 | ₹2,17,012.77 | ₹32,087.55 | ₹2,37,369.70 |
| 5 | ₹2,37,369.70 | ₹11,730.25 | ₹0.00 |
This is an estimate for planning. It is not a bank quote, a tax invoice, or financial advice. The calculation stays in your browser.
How to use EMI calculator
1. Enter the loan
Type the principal in rupees, the annual interest rate, and the tenure in years and months.
2. Read the monthly EMI
The figure is the fixed instalment on a reducing balance. Total interest and total payment sit beside it.
3. Check the yearly breakup
Each row shows principal repaid, interest paid, and the balance left at the end of that year.
How this EMI is calculated
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 rate falls on the outstanding balance, so early instalments are mostly interest and later ones are mostly principal. A zero-interest loan is split into equal principal instalments.
What the figure leaves out
Processing fees, insurance, GST on fees, and a broken-period interest before the first EMI are not in this number. The rate here is the rate you type. A floating loan will not stay on that rate for the whole tenure.
Home, car, and business loans
The formula is the same. Only the amount, the rate, and the months change. Use years and months together when the sanction letter says 7 years and 6 months rather than a round number of years.
Questions
Is this a reducing-balance EMI calculator?
Yes. Interest each month is charged on the balance left after the previous instalment, which is how bank EMIs are worked out in India.
Does the EMI include processing fees?
No. It is principal and interest only. Add fees and insurance on top of the total if the sanction letter lists them.
Can I calculate EMI in months?
Yes. Set the years and then the extra months. Five years and six months is 66 instalments.
Are the numbers sent anywhere?
No. The EMI is calculated in your browser. Matoshri Infotech does not receive the loan amount or the rate.
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