EMI Calculator
An EMI is the same amount every month, but what it is made of changes: in the early years most of it is interest and very little touches the principal. That is why a twenty-year home loan can cost roughly as much in interest as the house did, and why the year-by-year table below is worth reading before signing anything.
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Your numbers
Change anything below — the result updates as you type. Nothing you enter leaves your browser.
Use the rate on your sanction letter. Home loans are usually floating, so this figure will move over the term.
Monthly instalment
₹26,035
for 240 months
- You borrow
- ₹30,00,000
- Total interest
- ₹32,48,327
- Total you repay
- ₹62,48,327
- Interest as a share of repayment
- 52%
- Principal₹30,00,000 · 48%
- Interest₹32,48,327 · 52%
Interest is 52% of everything you will repay — ₹32,48,327 on a ₹30,00,000 loan. Shortening the term, rather than lowering the EMI, is what cuts that figure.
Look at the first few rows of the table below: early instalments are almost entirely interest. That is why a lump sum paid off in the first years saves far more than the same amount paid near the end.
Year-by-year repayment
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹59,707 | ₹2,52,709 | ₹29,40,293 |
| 2 | ₹64,984 | ₹2,47,432 | ₹28,75,309 |
| 3 | ₹70,728 | ₹2,41,688 | ₹28,04,580 |
| 4 | ₹76,980 | ₹2,35,436 | ₹27,27,600 |
| 5 | ₹83,785 | ₹2,28,632 | ₹26,43,815 |
| 6 | ₹91,190 | ₹2,21,226 | ₹25,52,625 |
| 7 | ₹99,251 | ₹2,13,166 | ₹24,53,374 |
| 8 | ₹1,08,024 | ₹2,04,393 | ₹23,45,351 |
| 9 | ₹1,17,572 | ₹1,94,844 | ₹22,27,779 |
| 10 | ₹1,27,964 | ₹1,84,452 | ₹20,99,815 |
| 11 | ₹1,39,275 | ₹1,73,141 | ₹19,60,540 |
| 12 | ₹1,51,586 | ₹1,60,831 | ₹18,08,954 |
| 13 | ₹1,64,985 | ₹1,47,432 | ₹16,43,969 |
| 14 | ₹1,79,568 | ₹1,32,849 | ₹14,64,402 |
| 15 | ₹1,95,440 | ₹1,16,977 | ₹12,68,962 |
| 16 | ₹2,12,715 | ₹99,701 | ₹10,56,247 |
| 17 | ₹2,31,517 | ₹80,899 | ₹8,24,730 |
| 18 | ₹2,51,981 | ₹60,435 | ₹5,72,749 |
| 19 | ₹2,74,254 | ₹38,163 | ₹2,98,495 |
| 20 | ₹2,98,495 | ₹13,921 | ₹0 |
What this calculator assumes
- The interest rate stays the same for the whole term. Most Indian home loans are floating-rate and will not.
- Every instalment is paid on time and no part-payment is made. A prepayment early in the term saves far more interest than the same amount paid later.
- Processing fees, insurance sold alongside the loan, GST and any penalty charges are not included.
Please read this
This is an illustration only, not a loan offer, a sanction or a quote. We are not a lender, a bank or a lending intermediary and we do not arrange loans. The rate, eligibility and charges that apply to you are decided entirely by your lender. Please check the sanction letter and the key facts statement before you commit.
The figures shown are an illustration produced from the numbers you typed in. They are not a quote, a guarantee, an offer or personal financial advice, and nothing here takes account of your own circumstances. Read the full disclaimer before acting on any of it.
Questions people ask us about this
How much does prepaying actually save?
A great deal, if it is early. Interest is charged on the outstanding balance, so a lump sum knocked off in year three removes interest on that amount for the entire remaining term. The same payment in year fifteen saves comparatively little. Where a lender offers the choice, reducing the tenure saves more than reducing the EMI.
Should I take the loan insurance the bank offers?
Cover for a large loan is a sensible idea; the single-premium policy bundled at the branch is often an expensive way to buy it. A plain term plan for the loan amount and tenure is usually cheaper and, unlike a reducing-cover loan policy, the payout goes to your family rather than only clearing the balance. We are happy to compare the two for you.
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