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EMI Calculator

Calculate your monthly loan EMI, total interest, total repayment and repayment schedule in seconds.

₹ 8,678.02 / month
For a ₹10,00,000 loan at 8.50% for 20 years
Monthly EMI ₹ 8,678.02
Total interest ₹ 10,82,724.80
Total repayment ₹ 20,82,724.80

Principal vs Interest

Principal: ₹ 10,00,000 Interest: ₹ 10,82,725

Amortization Schedule

The table shows the yearly summary of principal paid, interest paid and remaining balance.

Year Opening Balance Principal Paid Interest Paid Total Payment Closing Balance

EMI Formula

EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]

P = loan principal, r = monthly interest rate, n = number of monthly instalments.

Example

For a loan of ₹10,00,000 at 8.5% annual interest for 20 years, the monthly EMI is approximately ₹8,678. The exact result depends on the calculation method and rounding used by the lender.

GUIDE

What is EMI?

EMI stands for Equated Monthly Instalment. It is the regular amount paid by a borrower to repay a loan over a specified period. A typical EMI contains both principal repayment and interest.

How to use the EMI Calculator

  1. Enter the loan amount.
  2. Enter the annual interest rate offered by the lender.
  3. Enter the loan tenure in years or months.
  4. Click Calculate EMI.
  5. Review the monthly EMI, total interest, total repayment and yearly amortization schedule.

Does a longer loan tenure reduce EMI?

Generally, a longer tenure reduces the monthly EMI because repayment is spread over more instalments. However, the borrower usually pays more total interest over the life of the loan.

Frequently Asked Questions

What is the EMI for a ₹10 lakh loan?

The EMI depends on the interest rate and tenure. For example, at 8.5% annual interest over 20 years, the EMI is approximately ₹8,678 per month.

Does the EMI calculator include interest?

Yes. The calculator separates the principal and interest components and shows total interest payable over the selected tenure.

Can I calculate EMI for a home loan, car loan or personal loan?

Yes. The standard reducing-balance EMI formula can be used for many loans where the lender applies a monthly reducing-balance interest calculation. Actual lender calculations can vary.

Is this EMI calculator free?

Yes. Plateable's EMI Calculator is free to use and does not require registration.