Calculate your monthly loan EMI, total interest and total payment in seconds. Enter the loan amount, interest rate and tenure to see a live loan summary, a principal-vs-interest breakdown, a full amortization schedule, a yearly summary, a tenure comparison and an optional prepayment calculator — all with Indian ₹ formatting.
See how the same loan amount and interest rate behave across common tenures of 5, 10, 15 and 20 years. A longer tenure lowers your monthly EMI but increases the total interest you pay.
| Tenure | Months | Monthly EMI | Total Interest | Total Payment |
|---|
Each EMI is split into interest (charged on the reducing balance) and principal. The monthly schedule shows every payment; the yearly summary aggregates it by year. The final balance is adjusted to exactly zero.
| Month | EMI | Principal | Interest | Balance |
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| Year | EMI Paid | Principal | Interest | Balance |
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The EMI Calculator is a free online tool that helps you plan any reducing-balance loan — a home loan, car loan, personal loan, education loan or business loan. Enter the loan amount, annual interest rate and tenure to instantly see your monthly EMI, total interest, total payment, a principal-vs-interest breakdown, a full month-by-month amortization schedule, a yearly summary, a tenure comparison and an optional prepayment estimate — all with live results in Indian ₹ formatting.
EMI = P × r × (1+r)n ÷ ((1+r)n − 1)
where P = loan amount, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = tenure in months.
For example, ₹10,00,000 at 8.5% p.a. for 10 years (120 months) gives an EMI of about ₹12,398.
When the interest rate is 0%, the formula simplifies to EMI = P ÷ n. For example, ₹5,00,000 at 0% for 5 years (60 months) gives an EMI of ₹8,333.33 with zero total interest.
Each month: Interest = opening balance × r; Principal = EMI − Interest; Closing balance = opening balance − Principal. Because interest is charged on the reducing balance, the interest portion falls and the principal portion rises over time. The final balance is adjusted to exactly zero.
A prepayment reduces your outstanding principal. Keeping the same EMI clears the loan faster (shorter tenure) and saves interest; keeping the same tenure lowers your monthly EMI. Both are estimates and assume penalty-free prepayment at the chosen month.
For a ₹10,00,000 home loan at 8.5% p.a. for 10 years: the monthly rate r = 8.5 ÷ 12 ÷ 100 = 0.0070833, and n = 120 months. The EMI works out to about ₹12,398. Over 120 months you pay about ₹14,87,828 in total, of which about ₹4,87,828 is interest. In the first month the interest is about ₹7,083 (10,00,000 × 0.0070833) and the principal is about ₹5,315; by the final month the balance is adjusted to exactly zero.
EMI is calculated using the reducing-balance formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. If the interest rate is 0%, the EMI is simply P ÷ n.
An amortization schedule is a month-by-month breakdown of each EMI into its interest and principal components. Each month the interest is charged on the remaining (reducing) balance, so the interest portion decreases over time while the principal portion increases. The final balance is adjusted to zero.
A prepayment is a lump sum paid towards your loan principal. If you keep the same EMI, the principal clears faster and your tenure shortens, saving total interest. If you keep the same tenure, the outstanding principal drops and your monthly EMI reduces. Both scenarios are estimates and assume the lender allows prepayment without penalty.
For a fixed-rate loan the EMI stays the same for the whole tenure. For a floating-rate loan the EMI or the tenure may change when the rate changes. This calculator uses the rate you enter for the full tenure to give a single, clear estimate.
Yes. The SUPRAVAT.IN EMI Calculator is completely free, runs entirely in your browser, and does not require any sign-up or internet connection to calculate.