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Loan EMI Calculator
Example: a ₹10,00,000 loan at 9% interest for 5 years has a monthly EMI of ₹20,758. You pay ₹2,45,501 in interest — 25% of the amount borrowed.
Loan EMI Calculator
₹
%
yrs
Monthly EMI
60 months
Principal
₹10,00,000
Total interest
₹2,45,501
Total payment
₹12,45,501
PrincipalInterest
Estimates for information only — not financial, tax or investment advice. Rates and rules change; confirm with an official source or a qualified professional. Disclaimer
How EMI is calculated
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r the monthly rate (9% ÷ 12 = 0.7500%) and n the number of months (60). Banks in India use this reducing-balance method, so interest is charged only on the outstanding principal.
How to lower your EMI or total interest
- Longer tenure lowers the EMI but raises total interest.
- Prepay when you can — early prepayments cut interest the most because the balance is highest at the start.
- Compare rates: on ₹10,00,000, every 0.5% lower rate saves about ₹14,509 over 5 years.
Yearly repayment schedule — ₹10,00,000 at 9% for 5 years
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | ₹1,65,830 | ₹83,270 | ₹8,34,170 |
| Year 2 | ₹1,81,386 | ₹67,714 | ₹6,52,784 |
| Year 3 | ₹1,98,401 | ₹50,699 | ₹4,54,383 |
| Year 4 | ₹2,17,013 | ₹32,088 | ₹2,37,370 |
| Year 5 | ₹2,37,370 | ₹11,730 | ₹0 |
Frequently asked questions
What is the EMI for ₹10,00,000 at 9% for 5 years?
₹20,758 per month, for 60 months.
How much total interest will I pay?
₹2,45,501 in interest, so ₹12,45,501 in total.
Does the EMI include processing fees or insurance?
No. EMI covers principal and interest only; processing fees, GST on fees and insurance are charged separately by the lender.