# EMI Calculator

Enter the loan amount, interest rate and tenure to see your monthly EMI and how much interest you will pay over the full loan.

Live calculator: https://calc.softool.in/emi-calculator

## Worked example

For a ₹25 lakh home loan at 8.5% a year for 20 years, the EMI is ₹21,696 a month. Over the full loan you pay ₹27,06,939 in interest, so the total payment is ₹52,06,939.

## Quick answers

- **What is the EMI on a ₹5 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹5 lakh loan for 5 years is ₹10,258 a month.
- **What is the EMI on a ₹10 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹10 lakh loan for 5 years is ₹20,517 a month.
- **What is the EMI on a ₹20 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹20 lakh loan for 5 years is ₹41,033 a month.
- **What is the EMI on a ₹30 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹30 lakh loan for 5 years is ₹61,550 a month.
- **What is the EMI on a ₹50 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹50 lakh loan for 5 years is ₹1,02,583 a month.
- **What is the EMI on a ₹75 lakh loan for 5 years?** At 8.5% a year, the EMI on a ₹75 lakh loan for 5 years is ₹1,53,874 a month.
- **What is the EMI on a ₹1 crore loan for 5 years?** At 8.5% a year, the EMI on a ₹1 crore loan for 5 years is ₹2,05,165 a month.

## EMI table at 8.5% a year

Monthly EMI for common loan amounts and tenures.

| Loan amount | 5 years | 10 years | 15 years | 20 years | 30 years |
|---|---|---|---|---|---|
| ₹5 lakh | ₹10,258 | ₹6,199 | ₹4,924 | ₹4,339 | ₹3,845 |
| ₹10 lakh | ₹20,517 | ₹12,399 | ₹9,847 | ₹8,678 | ₹7,689 |
| ₹20 lakh | ₹41,033 | ₹24,797 | ₹19,695 | ₹17,356 | ₹15,378 |
| ₹30 lakh | ₹61,550 | ₹37,196 | ₹29,542 | ₹26,035 | ₹23,067 |
| ₹50 lakh | ₹1,02,583 | ₹61,993 | ₹49,237 | ₹43,391 | ₹38,446 |
| ₹75 lakh | ₹1,53,874 | ₹92,989 | ₹73,855 | ₹65,087 | ₹57,669 |
| ₹1 crore | ₹2,05,165 | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹76,891 |

## How it is calculated

`EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)`

P is the loan amount, r is the monthly interest rate (yearly rate ÷ 12 ÷ 100) and n is the number of monthly instalments. The EMI stays the same every month, but in the early years most of it goes to interest and only a small part reduces the loan.

A longer tenure lowers the EMI but raises the total interest. Try changing the tenure above to see the difference.

## Good to know

- A higher down payment means a smaller loan, which lowers both the EMI and the total interest.
- Prepaying even one extra EMI a year shortens the loan noticeably, because early payments are mostly interest.
- Compare lenders on the interest rate and on fees: a slightly lower rate saves a lot over a long tenure.

## Common questions

### What is EMI?

EMI means Equated Monthly Instalment. It is the fixed amount you pay the lender every month until the loan is fully repaid. Each EMI contains an interest part and a principal part.

### Does a longer tenure save money?

No. A longer tenure reduces the monthly EMI but you pay interest for more months, so the total cost of the loan goes up.

### Is this EMI exact?

It matches the standard reducing-balance formula banks use. Your real EMI can differ slightly because of processing fees, insurance, or a floating interest rate that changes over time.

### Does prepayment reduce the EMI or the tenure?

It depends on what you ask the lender to do. Most lenders keep the EMI the same and shorten the tenure, which saves the most interest. You can also ask to keep the tenure and lower the EMI.

### What is the difference between a fixed and a floating rate?

A fixed rate stays the same, so the EMI never changes. A floating rate moves with the lender's benchmark, so the EMI or the tenure changes when rates change.

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Source: https://calc.softool.in/emi-calculator
Last reviewed: October 2026. Results are estimates, not financial advice.