EMI Calculator
See the monthly EMI, the total interest, and the full cost of any loan — home, car or personal. Or start from a budget and see how much loan it buys.
The interest is the story.
Set the loan, rate and tenure, then look at the green bar: for long tenures, interest can rival or exceed the amount borrowed. Slide the years down and watch the total payment collapse — that is prepayment's power, visible in one number.
- Loan EMI — enter a loan amount and see the monthly EMI.
- Afford a loan — enter the EMI you can pay and see the loan it buys.
Illustration only. Assumes a fixed rate and equal monthly instalments; actual loans carry processing fees and floating rates.
| Year | Principal paid | Interest paid | Balance |
|---|
The formula behind the numbers
P = loan · i = annual rate ÷ 12 · n = months
Example: ₹30 lakh at 8.5% for 20 years gives an EMI of ₹26,035 — and total interest of about ₹32.5 lakh. You pay back more than double what you borrowed; that is what 20 years of 8.5% does.
The “Afford a loan” mode does this live — ₹30,000 a month at 8.5% for 20 years supports about ₹34.6 lakh.
Tenure is the strongest lever: the same loan over 15 years costs roughly ₹9 lakh less in interest than over 20. For what the saved EMI could build instead, try the SIP calculator.
Frequently asked questions
What is EMI in simple words?
Equated Monthly Instalment — the fixed payment that clears a loan over its tenure. Each EMI splits into interest on the remaining balance and repayment of principal; early EMIs are mostly interest, later ones mostly principal.
How can I reduce my EMI?
Three levers: borrow less, choose a shorter tenure (higher EMI, far less total interest), or negotiate a lower rate — especially by refinancing an old high-rate loan. Prepaying principal when you can also shortens the loan.
Is a longer tenure better because the EMI is smaller?
The EMI is smaller but the total interest is much larger — a 30 lakh loan at 8.5% costs roughly 32.5 lakh in interest over 20 years and about 51 lakh over 30. Choose the shortest tenure whose EMI you can comfortably sustain.
Does prepayment help if the EMI stays the same?
Yes — a prepayment goes straight to principal, so the remaining tenure shrinks while the EMI stays fixed. Even one extra EMI a year can cut years off a long home loan.
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