EMI calculator — home, car, personal, education.
Pick loan type to pre-fill typical Indian-bank rates (home 8.5%, personal 13.5%, car 9.5%, education 11%). Enter principal + tenure. Get monthly EMI, total interest, and a year-by-year amortisation table showing principal repaid vs interest paid each year.
Your loan
Year-by-year amortisation
Reducing-balance method — interest reduces each year as principal is repaid.
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹99,511 | ₹4.21 L | ₹49.00 L |
| 2 | ₹1.08 L | ₹4.12 L | ₹47.92 L |
| 3 | ₹1.18 L | ₹4.03 L | ₹46.74 L |
| 4 | ₹1.28 L | ₹3.92 L | ₹45.46 L |
| 5 | ₹1.40 L | ₹3.81 L | ₹44.06 L |
| 6 | ₹1.52 L | ₹3.69 L | ₹42.54 L |
| 7 | ₹1.65 L | ₹3.55 L | ₹40.89 L |
| 8 | ₹1.80 L | ₹3.41 L | ₹39.09 L |
| 9 | ₹1.96 L | ₹3.25 L | ₹37.13 L |
| 10 | ₹2.13 L | ₹3.07 L | ₹35.00 L |
| 11 | ₹2.32 L | ₹2.89 L | ₹32.68 L |
| 12 | ₹2.53 L | ₹2.68 L | ₹30.15 L |
| 13 | ₹2.75 L | ₹2.46 L | ₹27.40 L |
| 14 | ₹2.99 L | ₹2.21 L | ₹24.41 L |
| 15 | ₹3.26 L | ₹1.95 L | ₹21.15 L |
| 16 | ₹3.55 L | ₹1.66 L | ₹17.60 L |
| 17 | ₹3.86 L | ₹1.35 L | ₹13.75 L |
| 18 | ₹4.20 L | ₹1.01 L | ₹9.55 L |
| 19 | ₹4.57 L | ₹63,604 | ₹4.97 L |
| 20 | ₹4.97 L | ₹23,202 | ₹0 |
The EMI formula
EMI = P × r × (1 + r)^n / ((1 + r)^n − 1) P = loan principal r = monthly rate = (annual rate / 100) / 12 n = total months = years × 12
Reducing-balance method — interest each month is on the remaining principal, not the original amount. Early EMIs are interest-heavy; later ones are principal-heavy.
Cheaper loans — two tricks
- Prepay early. On a 20-year home loan, a single 12-month EMI prepayment in year 2 typically knocks 2 years off the tenure. Prepayment in year 15 barely changes anything.
- Round up every EMI by 5%. A ₹40,000 EMI paid as ₹42,000 every month cuts a 20-year loan to ~17 years. Most home-loan banks allow part-payment with no penalty.
Paired calculators
Research tool · not investment advice.
Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Default interest rates reflect April 2026 averages across major Indian banks. Actual rates vary by credit score, loan amount, bank, and negotiation. Always confirm with the lender before committing.