WealthMetric
Personal Finance
WealthMetric

EMI Calculator

Calculate your monthly EMI for home, car, personal and education loans, with a full amortization schedule.

Loan Type
🏠 Home
7–10%
Up to 30 yrs
🚗 Car
9–12%
Up to 7 yrs
👤 Personal
12–20%
Up to 7 yrs
🎓 Education
8–12%
Up to 15 yrs
Loan Details
Loan Amount
20.00L
₹
Interest Rate
% p.a.
Typical for 🏠 Home: 7–10%
Tenure
years
Max for 🏠 Home: 30y
Quick Summary
Principal vs Interest
Principal 48%Interest 52%
Monthly EMI₹17,356
Total Interest₹21.66L
Total Payment₹41.66L
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Principal
₹20.00L
loan amount
Monthly EMI
₹17,356
Total Interest
₹21.66L
108% of principal
Total Payment
₹41.66L
over 20 years
Annual Principal vs Interest Paid
1234567891011121314151617181920₹0₹55.0K₹1.10L₹1.65L₹2.20L
  • Principal
  • Interest
Amortization Schedule
YearBalanceCumulative PrincipalYr PrincipalYr Interest
1₹19.60L₹39.8K₹39.8K₹1.68L
2₹19.17L₹83.1K₹43.3K₹1.65L
3₹18.70L₹1.30L₹47.2K₹1.61L
4₹18.18L₹1.82L₹51.3K₹1.57L
5₹17.63L₹2.37L₹55.9K₹1.52L
6₹17.02L₹2.98L₹60.8K₹1.47L
7₹16.36L₹3.64L₹66.2K₹1.42L
8₹15.64L₹4.36L₹72.0K₹1.36L
9₹14.85L₹5.15L₹78.4K₹1.30L
10₹14.00L₹6.00L₹85.3K₹1.23L
11₹13.07L₹6.93L₹92.8K₹1.15L
12₹12.06L₹7.94L₹1.01L₹1.07L
13₹10.96L₹9.04L₹1.10L₹98.3K
14₹9.76L₹10.24L₹1.20L₹88.6K
15₹8.46L₹11.54L₹1.30L₹78.0K
16₹7.04L₹12.96L₹1.42L₹66.5K
17₹5.50L₹14.50L₹1.54L₹53.9K
18₹3.82L₹16.18L₹1.68L₹40.3K
19₹1.99L₹18.01L₹1.83L₹25.4K
20₹0₹20.00L₹1.99L₹9.3K
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Frequently Asked Questions
How is EMI calculated?
EMI is calculated using the formula EMI = P × r × (1+r)^n / [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate and n is the number of monthly instalments.
What is the difference between fixed and floating interest rates?
A fixed rate stays the same for the loan tenure, keeping your EMI constant. A floating rate moves with the lender's benchmark rate, so your EMI or tenure can change over time.
How does prepayment reduce my loan interest?
Prepaying part of the principal reduces the outstanding balance on which future interest is charged, which can shorten your loan tenure or lower your EMI — and cut the total interest paid over the loan's life.
Does a higher down payment reduce EMI?
Yes. A larger down payment reduces the loan principal, which directly lowers both your EMI and the total interest you pay over the loan tenure.
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