EMI Calculator Free

Enter the loan amount, interest rate and tenure to see your EMI, how much of it is interest, and exactly how the balance falls each month. Add a prepayment to see how much you'd save.

🏠 Loan details

Loan amount

Interest rate (% p.a.)

Tenure (years)

Rate type

Prepayment amount (optional)

Prepayment frequency

✅ Your EMI

Monthly EMI₹ 43,391

Principal₹ 50,00,000

Total interest₹ 54,13,879

Total payable₹ 1,04,13,879

■ Principal 48%■ Interest 52%

📅 Amortisation schedule

Year	Principal paid	Interest paid	Balance
1	₹ 99,511	₹ 4,21,182	₹ 49,00,489
2	₹ 1,08,307	₹ 4,12,387	₹ 47,92,181
3	₹ 1,17,881	₹ 4,02,813	₹ 46,74,300
4	₹ 1,28,300	₹ 3,92,394	₹ 45,46,000
5	₹ 1,39,641	₹ 3,81,053	₹ 44,06,359
6	₹ 1,51,984	₹ 3,68,710	₹ 42,54,375
7	₹ 1,65,418	₹ 3,55,276	₹ 40,88,957
8	₹ 1,80,039	₹ 3,40,655	₹ 39,08,918
9	₹ 1,95,953	₹ 3,24,741	₹ 37,12,965
10	₹ 2,13,274	₹ 3,07,420	₹ 34,99,691
11	₹ 2,32,125	₹ 2,88,569	₹ 32,67,566
12	₹ 2,52,643	₹ 2,68,051	₹ 30,14,923
13	₹ 2,74,974	₹ 2,45,720	₹ 27,39,949
14	₹ 2,99,279	₹ 2,21,415	₹ 24,40,670
15	₹ 3,25,733	₹ 1,94,961	₹ 21,14,937
16	₹ 3,54,525	₹ 1,66,169	₹ 17,60,412
17	₹ 3,85,862	₹ 1,34,832	₹ 13,74,550
18	₹ 4,19,968	₹ 1,00,726	₹ 9,54,582
19	₹ 4,57,090	₹ 63,604	₹ 4,97,492
20	₹ 4,97,492	₹ 23,202	₹ 0

How EMI is calculated

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of monthly instalments. Early EMIs are mostly interest; the principal share grows every month as the balance falls.

Prepayments save more than you think

Because interest is charged on the outstanding balance, every extra payment cuts all future interest on that amount. Even one extra EMI a year can take years off a 20-year home loan. Check your lender's prepayment charges first — floating-rate home loans in India have none for individuals.

📖 Read the full guide: How EMI Is Calculated: Formula, Examples and How Prepayment Saves Interest

More free tools you might need

✅

Loan Eligibility CalculatorFree

Find out how much you can borrow from your income, existing EMIs, rate and tenure.

🏦

Business Loan EMI CalculatorFree

Work out your monthly EMI, total interest, and total payable on any business loan.

📈

SIP CalculatorFree

See what your monthly SIP investment could grow to over time.

💱

Currency ConverterFree

Convert between 160+ currencies with daily exchange rates — AED, INR, USD, SAR and more.

Browse all free tools

FAQ

Frequently asked questions

Does this work for UAE flat-rate loans?

This calculator uses the reducing-balance method used by most home loans and many personal loans. UAE car and personal loans are often quoted at a flat rate, which is roughly half the equivalent reducing rate. Use the flat-rate option to convert.

Is the EMI exact?

It matches the standard formula. Lenders may round, add processing fees, insurance or charge broken-period interest for the first month, so your sanction letter can differ slightly.

Should I choose a longer tenure for a lower EMI?

A longer tenure lowers the EMI but raises total interest substantially. Pick the shortest tenure whose EMI fits comfortably within your budget — many advisers suggest keeping all EMIs under 40–50% of take-home pay.