Free Tool
Home Loan EMI Calculator
Instantly calculate your monthly EMI and get a complete breakdown of principal vs. interest payments.
Loan Details
Monthly EMI
₹86,782
Total Interest
₹1.1 Cr
Total Amount
₹2.1 Cr
Payment Breakdown
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How EMI is calculated
EMI (Equated Monthly Instalment) is the fixed amount you pay your lender every month until the home loan is repaid. Each EMI has two parts: interest on the amount still outstanding, and a repayment of the principal.
In the early years most of the EMI goes towards interest, because the outstanding balance is at its highest. As the balance falls, the interest share shrinks and more of each EMI repays the principal. The amortization breakdown above shows this split year by year.
The three inputs that decide your EMI are the loan amount, the interest rate and the tenure. A longer tenure lowers the monthly EMI but increases the total interest you pay over the life of the loan.
Formula
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- P
- Loan amount (principal)
- r
- Monthly interest rate = annual rate ÷ 12 ÷ 100
- n
- Tenure in months
Frequently asked questions
Why is most of my early EMI going towards interest?
Interest is charged on the outstanding loan balance, which is highest at the start. As you repay the principal, the balance and therefore the interest portion fall, so later EMIs repay more principal.
Should I choose a longer or shorter tenure?
A longer tenure gives a lower, more comfortable EMI but you pay more interest overall. A shorter tenure has a higher EMI but saves interest. Many buyers pick a tenure with a manageable EMI and then prepay when they can.
Does the EMI include processing fees or insurance?
No. The calculator covers principal and interest only. Processing fees, loan insurance, stamp duty and registration charges are separate costs you should budget for.
What happens to my EMI if the interest rate changes?
On a floating-rate loan, a rate change usually changes either your EMI or your remaining tenure, depending on your lender. You can re-run this calculator with the new rate to see the effect.
How much EMI can I afford?
Lenders typically look at how much of your monthly income goes towards EMIs. Use our Loan Eligibility Calculator to estimate the loan amount your income can support.
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