India · Tools
Loan EMI Calculator.
Enter the loan amount, rate, and tenure. Or pick a bank and use today's actual EBLR. See the full amortisation schedule, not just the headline EMI.
Inputs
240 months · 20.00 years
The published rate is the bank's benchmark. Your sanctioned rate will sit above this by a spread the bank decides at underwriting, based on your credit profile, loan-to-value, and product type.
EMI breakdown
Monthly EMI
8.50% · 20.0 years
Total interest
₹54,13,879
108.3% of principal
Total payment
₹1,04,13,879
Over 20.0 years
Crossover month
Principal exceeds interest in your EMI starting month 143 (11.9 years in)
Cumulative outgo · principal vs interest
Monthly
Amortisation schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4,21,182 | ₹49,00,489 |
| 2 | ₹1,08,307 | ₹4,12,387 | ₹47,92,181 |
| 3 | ₹1,17,881 | ₹4,02,813 | ₹46,74,300 |
| ⋮ | |||
| 19 | ₹4,57,090 | ₹63,604 | ₹4,97,492 |
| 20 | ₹4,97,492 | ₹23,202 | ₹0 |
Indicative figure. Your sanctioned rate will be the bank's benchmark (EBLR or MCLR) plus a spread set at the time of sanction. That spread is a function of your credit score, income, the loan-to-value ratio, and the product type. Processing fees, GST, and stamp duty are not included; they typically add 0.5% to 1% of the loan amount at disbursal. Confirm the exact EMI with your lender.
How EMI is calculated
One formula, two surprises.
EMI follows the standard amortisation formula:
EMI = P × r × (1 + r)n / ((1 + r)n − 1)
where P is the principal, r is the monthly rate (annual ÷ 12), and n is the tenure in months.
Surprise one: the interest you pay in the first few years is much higher than the principal. A 20-year ₹50 lakh loan at 8.5% has you paying ~₹35,000 in interest and ~₹8,000 in principal each month for the first year. The schedule below shows the cross-over month.
Surprise two: EBLR is floating. The bank resets your rate within 3 months of an RBI repo move. The EMI shown is at today's rate. A 25 bps cut next quarter shaves a small amount off your EMI for the rest of the tenure.
Processing fees, GST, and stamp duty are not included. They add 0.5-1% of the loan amount at disbursal.
Common questions
How is the EMI calculated?
EMI uses the standard amortisation formula on the principal, the monthly rate, and the number of months. Early instalments are mostly interest, and the principal share rises over the tenure.
What is EBLR and why does my EMI change over time?
EBLR is the external benchmark lending rate, linked to the RBI repo rate. When the repo moves, the bank resets EBLR within three months, so a floating-rate EMI changes over the life of the loan.
Does the EMI shown include fees?
No. Processing fees, GST, and stamp duty are extra, usually 0.5% to 1% of the loan amount at disbursal. The figure here is principal and interest only.