Money & Finance
EMI calculator
Enter the loan amount, interest rate and tenure. See the EMI, the interest you will pay, and what a part-payment would save. The schedule downloads as a CSV.
- Free, no sign-up
- Runs in your browser
- Nothing uploaded
Loan
Only changes the symbol and number format. No exchange rates are used.
The amount you borrow.
The annual rate your lender quotes, reducing balance.
Tenure in
Only used to label the CSV.
Part-payments (optional)
Paid on top of the EMI each month.
Month 1 is your first EMI.
Result
Year-by-year schedule
What the EMI calculator works out
An equated monthly instalment (EMI) is the fixed amount that repays a loan, interest included, by the final month. Enter the amount, the yearly rate your lender quotes on a reducing balance and the tenure, and the calculator returns the EMI, the total interest, the total you repay and interest as a share of that total. It also builds a yearly schedule and a monthly CSV, and shows what part-payments would save.
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P = loan amount, r = yearly rate ÷ 12 ÷ 100, n = months
Interest is charged on the balance still owed, so early instalments are mostly interest.
How to use it
- Pick the currency; only the symbol and number format change.
- Enter the loan amount, yearly rate and tenure (1 month to 50 years).
- Optionally add the first EMI month to label the CSV.
- To test prepaying, add an extra monthly amount or a one-time amount and its month, then download the CSV.
Worked example: two loans
₹10 lakh at 9% for 20 years: the EMI is ₹8,997. Over 240 months you repay ₹21,59,342, so interest is ₹11,59,342, or 53.7% of everything you pay.
₹30 lakh home loan at 8.5% for 20 years: the EMI is ₹26,035 and total interest is ₹32,48,327. A one-time ₹2,00,000 part-payment in month 12 closes the loan after 206 months (about 17.2 years), 34 months early, and saves ₹6,87,516 of interest. Paying ₹2,000 extra every month instead ends it after 202 months and saves ₹6,13,186. In both cases the EMI stays the same and the tenure shrinks.
When to use it, and its limits
Use it before you apply, to compare lenders, or to decide whether a bonus should go towards the loan. The rate is held fixed for the whole term. For a floating-rate loan the EMI holds only until the rate is reset, so rerun the numbers with the new rate and the balance on your latest statement.
Processing fees, bundled insurance and pre-EMI interest are not included, and lender rounding can shift the schedule by a few rupees. On prepayment charges, the RBI's directions bar regulated lenders from charging them on floating-rate loans to individuals for non-business purposes, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate loans follow the lender's policy, which must be disclosed in the sanction letter and loan agreement.
Frequently asked questions
Should a part-payment lower my EMI or my tenure?
This calculator keeps the EMI and shortens the tenure, which usually saves more interest. Some lenders let you choose a lower EMI instead; ask yours which option applies.
Does a higher rate or a longer tenure cost more?
Both raise total interest. A longer tenure lowers the EMI, so compare the total-interest row, not just the instalment.
Can I use it for a car or personal loan?
Yes, any loan repaid in equal monthly instalments on a reducing balance works. Flat-rate offers, where interest is charged on the original amount for the whole term, are not modelled and cost more than the same quoted rate here.
Privacy
Your inputs are processed by your browser and are not sent to BeginThings. The loan schedule CSV is created on your device when you press Download.
Sources
- Reserve Bank of India, Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 (2 July 2025)
Last checked: 25 Oct 2026, for the prepayment rules summarised under limits.