- Principal
- Interest
- Monthly EMI
- —
- Principal amount
- —
- Total interest
- —
- Total amount payable
- —
| Year | Principal paid | Interest paid | Balance |
|---|
Figures are estimates for planning only, not investment or tax advice.
An equated monthly instalment keeps the payment constant while the split between interest and principal changes every month. This calculator gives the EMI, the total interest, and a year-by-year schedule of what you still owe.
The formula
EMI = P × r × (1 + r)n ÷ [ (1 + r)n − 1 ], where r is the monthly rate and n the number of months. On ₹10 lakh at 10% for 5 years the EMI is ₹21,247 and the total interest ₹2.75 lakh.
Read the schedule, not just the EMI
In the early years most of each instalment is interest. On a 20-year loan you have usually repaid less than a third of the principal by year 10 — which is why prepaying early saves so much more than prepaying late.
Frequently asked questions
Longer tenure or higher EMI?
A longer tenure lowers the monthly outgo and raises the total interest sharply. Take the shortest tenure whose EMI you can comfortably afford.
What happens when the interest rate changes?
On a floating-rate loan lenders usually keep the EMI and extend the tenure. Ask for the EMI to be reset instead if you can afford it.
Does the EMI include insurance and fees?
No. Processing fees and loan insurance are usually charged separately or added to the principal.
Related calculators
See allRead next
Health insurance: the clauses that decide whether your claim is paid
Room rent limits, co-pay and disease-wise sub-limits quietly decide how much of your bill you carry.
New tax regime or old: run the numbers, not the argument
The answer turns on one figure — the total deductions you can genuinely claim.
An emergency fund is not an investment, and that is the point
Six months of expenses in a boring account is what stops one bad month becoming a bad decade.