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EMI Calculator

Monthly EMI, total interest, and full amortization schedule

Loan Type

₹30.00 L
8.5%
20 yrs
0.5%

Deducted from disbursement. Typical: 0.5–2% of loan.

Monthly EMI

₹26,035

× 240 months = ₹62.48 L

Loan amount₹30.00 L
Processing fee (0.5%)−₹15,000
Net disbursement₹29.85 L
Total interest₹32.48 L
Total payment₹62.48 L
APR (incl. processing fee)-483%
PrincipalInterest (108%)

Principal vs Interest — Year by Year

Notice how interest dominates early EMIs (front-loaded)

Amortization Milestones

After 25% tenure (Yr 5)

Outstanding balance

₹26.44 L

At halfway mark (Yr 10)

Outstanding balance

₹21.00 L

After 75% tenure (Yr 15)

Outstanding balance

₹12.69 L

Prepayment tip: Each ₹1L prepaid in Year 1 saves ₹₹1.19 L in interest over life of loan.

EMI Tips

→ APR includes processing fee — real cost of loan is higher than stated interest rate. Compare APR, not just interest rates.

→ Prepayment in early years reduces total interest far more than later years (because early EMIs are mostly interest).

→ EMI should ideally be ≤40% of net monthly income (FOIR — Fixed Obligation to Income Ratio).

→ Home loan interest up to ₹2L/year is deductible under Section 24(b). Principal up to ₹1.5L under 80C.

Compare rates before you sign. Even 0.5% matters.

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FAQ

EMI Calculator — FAQ

Common questions about this calculator

EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P = principal, r = monthly rate, n = months.

Calculations are approximate and for educational purposes only. Excludes surcharge for income above ₹50L. Consult a Chartered Accountant for personalised tax advice.