Loan EMI Calculator

Calculate your Equated Monthly Installment (EMI) for any loan. Understand the proportion of interest versus principal in your total repayment.

₹
%
Yr
%
₹
₹
Apply 18% GST on FeesGovt tax on processing & legal charges: ₹3,600
Monthly EMI
₹26,035
Total Interest
₹32,48,327
Total Principal
₹30,00,000
Total Upfront Expenses₹23,600
Net Disbursed to Bank₹29,76,400
True Total Cost of Loan₹62,71,927
Breakdown of Total Outflow

Upfront Charges & Expense Breakdown

Total Fees: ₹23,600
Processing Fee₹15,000
Documentation / Legal₹5,000
18% GST on Charges₹3,600
Insurance / MODT₹0

Amortization Schedule

Year-by-year breakdown of your loan repayment

YearPrincipal (A)Interest (B)Total Payment (A+B)BalanceLoan Paid %
1₹59,707₹2,52,709₹3,12,416₹29,40,293
2.0%
2₹64,984₹2,47,432₹3,12,416₹28,75,309
4.2%
3₹70,728₹2,41,688₹3,12,416₹28,04,580
6.5%
4₹76,980₹2,35,436₹3,12,416₹27,27,600
9.1%
5₹83,785₹2,28,632₹3,12,416₹26,43,815
11.9%
6₹91,190₹2,21,226₹3,12,416₹25,52,625
14.9%
7₹99,251₹2,13,166₹3,12,416₹24,53,374
18.2%
8₹1,08,024₹2,04,393₹3,12,416₹23,45,351
21.8%
9₹1,17,572₹1,94,844₹3,12,416₹22,27,779
25.7%
10₹1,27,964₹1,84,452₹3,12,416₹20,99,815
30.0%
11₹1,39,275₹1,73,141₹3,12,416₹19,60,540
34.6%
12₹1,51,586₹1,60,831₹3,12,416₹18,08,954
39.7%
Principal:₹30,00,000
Interest:₹32,48,327
Total:₹62,48,327

Loan Cost Analysis & Financial Guidance

Detailed breakdown for ₹30,00,000 borrowed at 8.5% over 20 years.

108.3% Extra Interest
Monthly Outflow (EMI)
₹26,035
Required net monthly installment.
Daily Interest Cost
₹445/day
Pure interest charged per day over the tenure.
Income Rule (FOIR)
₹65,088/mo
Recommended minimum household net income.

⚡ 1. Extra EMI Every Year (Prepayment)

Paying just 1 additional EMI per year directly against the principal can reduce a 20-year home loan by ~3 to 4 years and save lakhs of rupees in interest.

📈 2. 5% Annual EMI Step-Up

Increasing your EMI by 5% every year as your salary increases can cut your loan tenure almost in half and eliminate up to 40% of total interest payable.

🏛️ 3. Tax Deduction Benefits (Home Loan)

Under the Old Tax Regime, principal repayment qualifies for up to ₹1.5 Lakh under Section 80C, and interest payment qualifies for up to ₹2 Lakh under Section 24(b).

🛡️ 4. Crucial Safety Checklist

Always maintain a pure Term Insurance policy covering at least 100% of your outstanding loan liability to protect your family from debt liabilities.

What is an EMI?

Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month so that over a specified number of years, the loan is fully paid off along with interest.

How is EMI calculated?

The mathematical formula for calculating EMIs is:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]
  • P: Principal loan amount
  • R: Rate of interest calculated on monthly basis (Annual Rate / 12 / 100)
  • N: Loan tenure in months