EMI Calculator
Work out a loan instalment, total interest, and what a monthly prepayment saves — including how much of the balance is still outstanding after one, three and five years.
Free · No sign-up · Nothing leaves your browser · Figures reviewed 22 September 2026
Your details
Optional — shows how many months it removes from the loan.
Monthly instalment
₹26,511
₹63,62,717 repaid over 240 months, of which ₹33,62,717 is interest.
- Principal · 47%
- Interest · 53%
The loan
- Loan amount
- ₹30,00,000
- Interest rate
- 8.8% a year
- Term
- 20 years — 240 months
- Monthly instalment
- ₹26,511
- Total repaid
- ₹63,62,717
- Total interest112.1% of the amount borrowed
- ₹33,62,717
How it splits over time
- After 1 year₹2,60,214 of the ₹3,18,136 paid has been interest
- ₹29,42,078
- After 3 years₹7,64,331 of the ₹9,54,408 paid has been interest
- ₹28,09,923
- After 5 years₹12,43,274 of the ₹15,90,679 paid has been interest
- ₹26,52,595
On a long loan the first years are almost all interest. That is why a prepayment in year two is worth several times the same amount in year ten.
This assumes a fixed rate. On a floating-rate loan, lenders usually hold the instalment steady and change the term instead, so a rate rise shows up as more months rather than a bigger payment.
Home-loan interest on a self-occupied property is deductible up to ₹2,00,000 in the old tax regime only. The new regime allows nothing for it.
The instalment is the easy part. The useful part is the split: on a long loan the first years are almost entirely interest, which is why a prepayment in year two is worth several times the same amount in year ten.
Add a monthly prepayment to see how many months it removes from the term.
Frequently asked questions
- How is EMI calculated?
- By the standard reducing-balance formula: principal times the monthly rate times one plus the monthly rate raised to the number of months, divided by that same quantity minus one. It produces a level payment where the interest share falls over time.
- Does prepaying a loan early save more?
- Considerably. Early instalments are mostly interest, so a prepayment in year two removes far more future interest than the same amount in year ten. The effect is largest on long loans.
- What happens to my EMI if interest rates rise?
- On a floating-rate loan most Indian lenders hold the instalment steady and extend the term instead. A rate rise then shows up as more months rather than a bigger payment — which is easy to miss.
- Is home loan interest tax deductible?
- Up to ₹2,00,000 a year for a self-occupied property, in the old tax regime only. The new default regime allows nothing for it. Interest on a let-out property remains deductible in the new regime, but the resulting loss cannot be set off against salary.
About this tool
Built by the ViniOffice team. Figures and rules last reviewed 22 September 2026 against the statutory reference this team maintains. Indian statutory rates are date-effective and change by notification — confirm against the current one before running payroll or filing.
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