EMI Calculator
Loan EMI · total interest · amortization
₹10,00,000
8.5%
15 years
₹9,847
Monthly EMI
₹10,00,000
Principal
₹7,72,440
Total Interest
₹17,72,440
Total Payable
56 : 44
Principal : Interest
Affordability check
Your EMI should ideally be under 40% of your monthly take-home income. If this EMI exceeds that, consider a longer tenure or a smaller loan.
View amortization schedule (yearly)
| Year | Principal | Interest | Balance |
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How is EMI calculated?
Your Equated Monthly Instalment (EMI) is fixed using the standard reducing-balance formula:
Formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P = principal, r = monthly interest rate (annual ÷ 12 ÷ 100), and n = number of monthly instalments.
Tips to reduce your EMI burden
- Make a larger down payment to shrink the principal.
- Pre-pay a portion each year — even 1 extra EMI/year cuts tenure significantly.
- Compare rates across 3–4 lenders; even 0.25% matters over 20 years.
- Keep EMI under 40% of net take-home pay to stay financially safe.