EMI Calculator
Monthly instalment, total interest and the full year-wise amortisation for any loan.
Result
- Total payment
- ₹15,20,109
- Principal plus interest
- Amount borrowed
- ₹10,00,000
- Final instalment
- ₹12,667.08
- Adjusted to clear the balance exactly
| Year | Principal paid | Interest paid | Total paid | Closing balance |
|---|---|---|---|---|
| Year 1 | ₹64,634 | ₹87,377 | ₹1,52,011 | ₹9,35,366 |
| Year 2 | ₹70,697 | ₹81,314 | ₹1,52,011 | ₹8,64,669 |
| Year 3 | ₹77,329 | ₹74,682 | ₹1,52,011 | ₹7,87,340 |
| Year 4 | ₹84,583 | ₹67,428 | ₹1,52,011 | ₹7,02,757 |
| Year 5 | ₹92,517 | ₹59,494 | ₹1,52,011 | ₹6,10,240 |
| Year 6 | ₹1,01,196 | ₹50,815 | ₹1,52,011 | ₹5,09,044 |
| Year 7 | ₹1,10,689 | ₹41,322 | ₹1,52,011 | ₹3,98,355 |
| Year 8 | ₹1,21,072 | ₹30,939 | ₹1,52,011 | ₹2,77,282 |
| Year 9 | ₹1,32,430 | ₹19,581 | ₹1,52,011 | ₹1,44,852 |
| Year 10 | ₹1,44,852 | ₹7,158 | ₹1,52,010 | ₹0 |
Estimates only, on a fixed reducing-balance rate. Actual instalments vary with the lender’s rounding, processing fees, insurance and any rate reset — always check the sanction letter.
Estimated from the numbers you entered — not a projection of guaranteed returns.
About this calculator
An EMI is the fixed monthly payment that clears a loan over its tenure. Early instalments are mostly interest because interest is charged on the balance still outstanding, and the mix tilts towards principal as the balance falls. This calculator shows that shift year by year for any loan amount, rate and tenure.
Formula
- EMI = P × i × (1 + i)^n ÷ ((1 + i)^n − 1)
- P = loan amount, i = annual rate ÷ 12 ÷ 100, n = tenure in months
- When i = 0 the formula collapses to EMI = P ÷ n
- Interest for a month = outstanding balance × i; the rest of the EMI reduces the balance
Frequently asked questions
Why is so much of my early EMI interest?
Interest each month is charged on the balance still outstanding, which is highest at the start. The EMI stays fixed, so as the balance falls the interest slice shrinks and the principal slice grows.
Does a longer tenure make the loan cheaper?
It lowers the monthly instalment but raises the total interest, because the balance stays outstanding for longer. The year-wise table shows both effects — compare two tenures side by side.
Why is the last instalment slightly different?
The EMI is rounded to the paisa, so a few rupees of balance remain after the second-last instalment. The final one is adjusted up or down to close the loan exactly, which is what lenders do too.