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EMI Calculator
Understand your monthly loan payment, total interest, payoff timeline, and the effect of prepayment.
Calculator
Calculate loan EMI
Enter your loan amount, interest rate, tenure, and optional monthly prepayment.
Payoff summary
Compare your loan with and without extra monthly payments.
| Scenario | Monthly payment | Payoff time | Total paid | Total interest |
|---|---|---|---|---|
| Your payoff summary will appear here. | ||||
Last updated: May 2026
What is this calculator?
This EMI calculator estimates monthly loan payment, total interest, payoff duration, and possible savings from extra prepayments.
Formula used
EMI = P x r x (1 + r)n / ((1 + r)n - 1), where P is principal, r is monthly rate, and n is months.
Example calculation
For a Rs. 25,00,000 loan at 8.5% for 20 years, the calculator estimates EMI, interest, and payoff duration.
How to use it
- Enter the loan amount.
- Add annual interest rate and tenure.
- Optionally add monthly prepayment.
- Compare payoff and interest with and without prepayment.
Benefits
- Know the likely monthly loan burden.
- Estimate total interest before borrowing.
- See how prepayment may save interest.
Common mistakes
- Ignoring processing fees and insurance costs.
- Assuming interest rates will never change.
- Forgetting lender prepayment rules or penalties.
FAQs
Does EMI include fees?
No. It estimates principal and interest only.
Can prepayment reduce tenure?
Yes, regular extra principal payments can reduce payoff time.
Disclaimer
Actual loan cost can vary due to fees, rate resets, insurance, penalties, and lender-specific amortization.