EMI Calculator

Use our free EMI calculator to determine your monthly loan repayment amount. Enter the principal loan amount, interest rate, and loan tenure to calculate your Equated Monthly Installment (EMI).

₹
%
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.

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

Frequently Asked Questions

What is an EMI?

EMI stands for Equated Monthly Installment. It is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.