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EMI · repayment schedule · prepayments

EMI Calculator

Work out the monthly EMI for a home, car, personal or business loan, see how every payment splits into principal and interest, and test how much prepayments save.

Loan

₹
%
yrs
First EMI

Prepayments

Add part-payments: a one-time amount (a bonus, say) or a fixed amount every year. Each is paid with the last EMI of the year you choose. Floating-rate home loans to individuals usually have no prepayment charges.

After prepaying

How this works

  • EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan, r the monthly rate (yearly rate ÷ 12) and n the number of months.
  • Early EMIs are mostly interest; later ones mostly principal. That's why prepaying early saves the most.
  • Finish sooner keeps your EMI and cuts the tenure. Lower my EMI keeps the end date and recalculates the EMI after each prepayment.
  • Home loan tax benefits (old regime): interest up to ₹2 lakh a year on a self-occupied home, and principal within the ₹1.5 lakh PF/PPF/ELSS limit.

Banks may round EMIs, charge processing fees, or change floating rates over the loan. Check the exact figures in your loan sanction letter.