Calculators · ~3 min
“What will my loan EMI be?”
Monthly instalment, total interest and a year-by-year repayment schedule for business, home, car or personal loans.
your repayment
Monthly EMI
₹20,758
Total interest
₹2,45,501
Total amount paid
₹12,45,501
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹1,65,830 | ₹83,270 | ₹8,34,170 |
| 2 | ₹1,81,386 | ₹67,714 | ₹6,52,784 |
| 3 | ₹1,98,401 | ₹50,699 | ₹4,54,383 |
| 4 | ₹2,17,013 | ₹32,088 | ₹2,37,370 |
| 5 | ₹2,37,370 | ₹11,730 | ₹0 |
the guide
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
An EMI (equated monthly instalment) is the fixed amount you pay every month to repay a loan. Each EMI contains some interest and some principal. In the early months most of it is interest; later, most of it repays the principal.
The EMI depends on three things: the loan amount, the interest rate and the tenure. A longer tenure lowers the EMI but increases the total interest you pay.
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is the loan amount, r the monthly interest rate and n the number of months.
No. A longer tenure lowers the monthly EMI but increases the total interest paid over the loan.
Prepayment reduces the outstanding principal, which cuts future interest. Check your loan agreement for any prepayment charges.
For fixed-rate loans, yes. For floating-rate loans, lenders may change the EMI or tenure when rates change.