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Work out the monthly instalment on any fixed-rate loan, see how much of it goes to interest, and download a full amortization schedule.
Step 1
Enter the loan amount
Use the amount you actually plan to borrow, after any down payment.
Step 2
Set rate and tenure
Use the lender's nominal annual rate, then pick a tenure in years or months.
Step 3
Add the processing fee
Enter it as a flat amount or a percentage of the principal to see your true cost.
Monthly EMI
₹21,695.58
Payable every month for 20 yrs (240 instalments).
Total interest
₹27,06,939
Total payment
₹52,06,939
₹52,31,939 including the processing fee.
The EMI formula spreads principal and interest into equal monthly payments. Each instalment is identical, but its split shifts from mostly interest to mostly principal over time.
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)Equated monthly instalment
Principal
The amount borrowed.
Monthly interest rate
The annual rate divided by 12 and by 100. A 9% annual rate gives r = 0.0075.
Number of instalments
The tenure expressed in months.
When the rate is zero the formula is undefined, so the calculator falls back to P ÷ n. Total interest is the sum of the interest column in the schedule, which equals (EMI × n) − P.
Use this page when you want the monthly instalment on a fixed-rate, reducing-balance loan and a sense of total interest. It is the same family of maths Indian home, car and personal loans use. It is not a sanction letter, and it does not know your credit score.
If you already know the EMI and want to attack the loan, switch to the Extra EMI calculator. For the vocabulary behind the schedule, read how EMI actually works.
Principal is the amount still to be repaid, after any down payment. The annual rate is converted to a monthly rate inside the formula. Tenure is how many months the lender is willing to wait. Stretching tenure usually cuts the EMI and raises the interest total; shortening it does the reverse. That trade-off is the main thing to watch on the sliders.
Try ₹40 lakh at 8.5% for 20 years with a processing fee of zero. Note EMI, total interest and total repayment. Then change only tenure to 25 years. EMI falls; interest paid over the life of the loan rises. That is reducing-balance arithmetic, not a hidden fee. Your lender will still round the instalment and may add insurance — treat the rupees as a planning sketch.
Early years are mostly interest because the balance is large. Later years are mostly principal. If that looks “unfair,” it is still how reducing-balance loans work. Prepayments change later interest only if they reduce principal — see one extra EMI a year.
Floating rates, moratoriums, part-prepayment rules and foreclosure charges are outside the formula. Compare the methodology note if you want the exact expression Finaura uses.
Answers about the emi calculator.
Continue exploring adjacent tools in this topic.
Guides that explain the ideas behind these numbers.
An EMI is one number on your statement and two jobs inside it. This guide explains principal, reducing-balance interest and why a smaller instalment can cost more over the life of the loan.
Thirteen instalments instead of twelve is not a thirteenth month of interest. It is an extra principal payment. Here is why that shortens the loan and what it does not guarantee.
Prepaying a loan earns a return equal to the interest you no longer pay. Investing might earn more, or less, and with different tax and risk. This is a comparison method, not a verdict.
A sanction letter draws your eye to the interest rate and the EMI. Neither is the number that decides what the loan costs you. Here is what to look at instead, and which clauses are worth negotiating before you sign.
These figures are estimates based on the values and assumptions you enter. Market returns are not guaranteed. Tax, brokerage and other rules can change. Finaura is an educational tool, not personalised financial, tax, investment or legal advice. Confirm important decisions with the relevant institution or a qualified professional.