What will your loan actually cost each month?
Move the sliders to see your monthly instalment, how much of it is interest, and what you'll repay in total over the life of the loan.
Your monthly EMI
₹26,106
- Principal₹25 L
- Total interest₹21.99 L
- Total payable₹46.99 L
Indicative only. Your actual EMI depends on the lender's final approved rate, processing fees and insurance.
Get offers at this amountUnderstanding your EMI
An Equated Monthly Instalment is a fixed payment made every month that covers both interest and principal repayment. The amount stays the same throughout the loan, but its composition changes: early payments are mostly interest, later ones mostly principal.
Three variables drive the number: the amount you borrow, the interest rate, and the tenure. Of these, tenure has the most dramatic effect on total interest. Stretching a ₹50 lakh home loan at 9% from 15 years to 30 years cuts the monthly EMI by roughly a third, but nearly doubles the total interest you pay.
Before you commit, check that your total EMIs across all loans stay within about 50–60% of your net monthly income. That is the threshold most lenders apply, and it is also a sensible personal limit, leaving room for the months when something unexpected happens.
Questions about this calculator
EMI uses the reducing-balance formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Every payment covers that month's interest first, with the remainder reducing the principal.
Because interest is charged on the outstanding balance, which is highest at the start. In the first years the interest portion dominates; as the principal falls, the split shifts steadily in your favour. The amortisation calculator shows this year by year.
No. This shows the pure loan repayment. Lenders separately charge a processing fee (typically 0.25–2% of the loan) and may require property or life insurance, which can be added to the loan and would raise your actual EMI.
On a floating-rate loan, yes: when the benchmark rate moves, lenders usually keep the EMI fixed and adjust the tenure instead, though you can ask for the EMI to change. Fixed-rate loans hold the EMI constant for the fixed period.
A longer tenure lowers the monthly outgo but raises total interest substantially. Pick the shortest tenure whose EMI you can comfortably service, and keep the option to prepay (on floating-rate loans to individuals there are no foreclosure charges).
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