EMI Calculator
Calculate your monthly EMI for home loans, car loans, personal loans, and more.
Loan Details
Enter your loan information
₹1 L₹5 Cr
5%20%
1 year30 years
Monthly EMI
₹43,391
per month for 20 years
Principal Amount₹50.00 L
Total Interest₹54.14 L
Total Payment₹1.04 Cr
Principal vs Interest
Principal (48%)
Interest (52%)
Yearly Amortization Schedule
See how your EMI is split between principal and interest
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| Year 1 | ₹99,511 | ₹4.21 L | ₹49.00 L |
| Year 2 | ₹1.08 L | ₹4.12 L | ₹47.92 L |
| Year 3 | ₹1.18 L | ₹4.03 L | ₹46.74 L |
| Year 4 | ₹1.28 L | ₹3.92 L | ₹45.46 L |
| Year 5 | ₹1.40 L | ₹3.81 L | ₹44.06 L |
| Year 6 | ₹1.52 L | ₹3.69 L | ₹42.54 L |
| Year 7 | ₹1.65 L | ₹3.55 L | ₹40.89 L |
| Year 8 | ₹1.80 L | ₹3.41 L | ₹39.09 L |
| Year 9 | ₹1.96 L | ₹3.25 L | ₹37.13 L |
| Year 10 | ₹2.13 L | ₹3.07 L | ₹35.00 L |
EMI Calculation Formula
EMI (Equated Monthly Installment) is calculated using the formula:EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]Where P = Principal, R = Monthly interest rate, N = Number of months
Tips to Reduce Your EMI
- Higher Down Payment: Reduce loan amount by paying more upfront
- Longer Tenure: Spread payments over more years (but pay more interest)
- Better Credit Score: Get lower interest rates with good CIBIL score (750+)
- Compare Lenders: Shop around for the best interest rates
- Part Prepayment: Make lump sum payments to reduce principal faster
Tax Benefit: Home loan principal repayment qualifies for Section 80C deduction (up to ₹1.5 lakh), and interest payment qualifies for Section 24 deduction (up to ₹2 lakh for self-occupied property).