Loan EMI Calculator
Find the monthly instalment on a loan, and how much of what you repay is interest rather than principal.
- Principal
- ₹10,00,000
- Total interest
- ₹10,82,776
- Total payable
- ₹20,82,776
- Interest as a share of what you pay
- 52.0%
Over 240 monthly payments at a fixed rate. Processing fees and insurance are not included.
How to use it
- Enter the loan amount.
- Enter the annual interest rate your lender quoted.
- Enter the term in years.
- The instalment and the total interest update as you type.
Questions
What is an EMI? An equated monthly instalment: the same amount every month, covering both interest and repayment of the principal. Early instalments are mostly interest; later ones are mostly principal.
Why is the total interest so large? Interest is charged on the outstanding balance every month, so a long term costs far more in total even at a modest rate. Shortening the term is usually the cheapest change you can make.
Does this include fees? No. Processing fees, insurance and stamp duty are charged separately by lenders and vary widely. Ask for the annual percentage rate, which includes them.