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Loans & Savings · Updated for tax year 2026-27

EMI Calculator — Home, Car & Personal Loans

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r the monthly interest rate and n the number of monthly instalments. Enter the loan amount, annual interest rate and tenure to see your EMI, the total interest and how the balance falls each year.

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Values you enterComputed values

Result

Monthly EMI

₹8,997

Principal₹10,00,000Total interest₹11,59,342Total payment₹21,59,342
PrincipalInterest
Year-by-year schedule
YearEMIs paidInterestPrincipalBalance
1₹1,07,967₹89,240₹18,727₹9,81,273
2₹1,07,967₹87,483₹20,484₹9,60,789
3₹1,07,967₹85,562₹22,405₹9,38,384
4₹1,07,967₹83,460₹24,507₹9,13,877
5₹1,07,967₹81,161₹26,806₹8,87,070
6₹1,07,967₹78,646₹29,321₹8,57,750
7₹1,07,967₹75,896₹32,071₹8,25,679
8₹1,07,967₹72,887₹35,080₹7,90,599
9₹1,07,967₹69,597₹38,370₹7,52,229
10₹1,07,967₹65,997₹41,970₹7,10,259
11₹1,07,967₹62,060₹45,907₹6,64,352
12₹1,07,967₹57,754₹50,213₹6,14,139
13₹1,07,967₹53,044₹54,924₹5,59,215
14₹1,07,967₹47,891₹60,076₹4,99,140
15₹1,07,967₹42,256₹65,711₹4,33,428
16₹1,07,967₹36,092₹71,875₹3,61,553
17₹1,07,967₹29,349₹78,618₹2,82,935
18₹1,07,967₹21,974₹85,993₹1,96,942
19₹1,07,967₹13,908₹94,059₹1,02,883
20₹1,07,967₹5,084₹1,02,883₹0

Disclaimer: Computed to the best of our knowledge, as per the law — including the section changes under the Income-tax Act, 2025 — in force on the date this website was last deployed (28 Sep 2026). Results are estimates for guidance only and are not tax, legal or investment advice. Please verify with the Act, rules and notifications, or a qualified professional, before relying on them. Rates and limits last reviewed on 28 Sep 2026.

How to use the EMI Calculator

  1. 1

    Enter the loan amount.

  2. 2

    Enter the annual interest rate quoted by the lender.

  3. 3

    Enter the tenure in years.

  4. 4

    See the EMI, the total interest and total amount payable, and open the yearly schedule for the principal and interest split.

EMI formula

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

P = loan amount · r = annual rate ÷ 12 ÷ 100 · n = tenure in months

Early EMIs are mostly interest; the principal share grows over time. Prepaying in the early years saves the most interest.

Worked example

  • Home loan of ₹10,00,000 at 9% for 20 years: r = 0.75% a month, n = 240.
  • EMI = ₹8,997. Over 20 years you pay ₹21,59,342, of which ₹11,59,342 is interest.

Tax benefits on a home loan

In the old regime, principal repayment counts towards the ₹1.5 lakh Section 123 (old sec. 80C) limit and interest on a self-occupied home is deductible up to ₹2 lakh a year under Section 22 (old sec. 24(b)). In the new regime, interest is deductible only on a let-out property, against its rental income.

Frequently asked questions

With the formula P × r × (1 + r)^n ÷ ((1 + r)^n − 1), using the monthly interest rate r and the number of months n.