Loan EMI, total interest aur total payment turant calculate karo.
Last updated: 7 Oct 2026 · Calculation based on publicly known formulas. This is an estimate — actual values may vary.
Result
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This is an estimate. Actual values may vary.
How we calculated it
EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. Total interest = (EMI × n) − P, and total payable = EMI × n.
For example, a ₹10 lakh loan at 9% annual interest for 20 years (240 months) gives r = 0.0075 and a monthly EMI of about ₹8,997 — roughly ₹11.6 lakh in interest over the life of the loan. Try the tenure in years and months to see how the trade-off changes.
What affects your EMI
Interest rate: even 0.5% less can save lakhs on a long home loan.
Tenure: longer tenure lowers the EMI but raises total interest sharply.
Reducing-balance method: Indian loans charge interest on the outstanding balance, which this formula models.
Prepayments: part-payments cut the principal early and reduce total interest — they are not included here.
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Last updated: 7 Oct 2026. Calculation based on the standard reducing-balance EMI formula used by Indian banks. Processing fees, GST and prepayment charges are not included. This is an estimate. Actual values may vary.
This is an estimate. Actual values may vary. For official figures, always check the relevant authority or official notification.
Frequently asked questions
What is EMI?
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month. Each EMI has two parts — interest on the outstanding loan and repayment of the principal. Early EMIs are mostly interest; later ones are mostly principal.
How is loan interest calculated — flat or reducing balance?
Almost all Indian home, car and personal loans use the reducing-balance method: interest is charged only on the outstanding principal, which shrinks every month. This calculator uses that method.
Should I take a longer tenure to get a lower EMI?
A longer tenure lowers your monthly EMI but increases total interest a lot. Pick the shortest tenure whose EMI fits your budget comfortably — ideally under 40% of monthly income.
Does prepaying my loan reduce the EMI or the tenure?
Most lenders let you choose: keep the EMI and finish earlier (saves more interest), or reduce the EMI and keep the tenure. Prepaying early in the loan saves the most.
Is the interest rate here the same as the bank quotes?
Banks quote an annual rate (usually on a reducing-balance basis). Enter that number directly. Note some lenders quote flat rates for two-wheelers or consumer durables — those need a different conversion.