EMI calculator
Work out your monthly loan instalment for a home, car or personal loan in seconds — and see exactly how much you'll pay in interest.
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Your monthly EMI
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Total interest
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Total payment
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Principal vs. interest
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How EMI is calculated
Your EMI (Equated Monthly Instalment) is a fixed amount you pay every month until your loan is fully repaid. Each instalment covers a mix of principal and interest — early payments are interest-heavy, and later ones pay down more principal.
EMI = P × r × (1+r)n / ((1+r)n − 1)
Where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly instalments.
Example: a ₹20,00,000 loan at 8.5% for 20 years works out to roughly ₹17,357 per month — about ₹21,65,680 in interest over the full tenure.
Tips to lower your EMI
- Make a larger down payment to shrink the principal.
- Compare rates across lenders before signing — even 0.5% matters over 20 years.
- Prepay whenever you get a bonus; it cuts total interest, not just tenure.
- Choose the shortest tenure your monthly budget can comfortably absorb.
Frequently asked questions
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Related tools
Taken the loan? Track the rest with Saviour.
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