What is EMI?
EMI means equated monthly instalment. It is the fixed monthly amount paid to the lender and includes both principal repayment and interest.
Free EMI calculator for India
EMI Calculator
Calculate loan EMI instantly for home loans, car loans, personal loans, and other borrowings. Adjust loan amount, interest rate, and tenure to compare monthly payment pressure before you borrow.
Estimated EMI
₹25,880
Interest
36%
Payment breakup
Principal64.4%₹20,00,000
Interest35.6%₹11,05,541
Total interest
₹11,05,541
Total payment
₹31,05,541
PrincipalInterest
64.4%35.6%
Calculate EMI
Monthly EMI
₹25,880
For 10 years at 9.50%
Interest share
35.6%
Of your total repayment
First year interest
₹1,84,610
₹1,25,944 principal in year one
Total repayment
₹31,05,541
Principal plus total interest
EMI formula
EMI = P x R x (1 + R)^N / ((1 + R)^N - 1), where P is loan amount, R is monthly interest rate, and N is tenure in months. Loan Blaster calculates the same formula instantly and shows the interest breakup so you can compare offers faster.
Amortization preview
First 12 months of principal, interest, and outstanding balance.
| Month | EMI | Principal | Interest | Outstanding |
|---|---|---|---|---|
| 1 | ₹25,880 | ₹10,046 | ₹15,833 | ₹19,89,954 |
| 2 | ₹25,880 | ₹10,126 | ₹15,754 | ₹19,79,828 |
| 3 | ₹25,880 | ₹10,206 | ₹15,674 | ₹19,69,622 |
| 4 | ₹25,880 | ₹10,287 | ₹15,593 | ₹19,59,336 |
| 5 | ₹25,880 | ₹10,368 | ₹15,511 | ₹19,48,967 |
| 6 | ₹25,880 | ₹10,450 | ₹15,429 | ₹19,38,517 |
| 7 | ₹25,880 | ₹10,533 | ₹15,347 | ₹19,27,984 |
| 8 | ₹25,880 | ₹10,616 | ₹15,263 | ₹19,17,368 |
| 9 | ₹25,880 | ₹10,700 | ₹15,179 | ₹19,06,668 |
| 10 | ₹25,880 | ₹10,785 | ₹15,094 | ₹18,95,883 |
| 11 | ₹25,880 | ₹10,870 | ₹15,009 | ₹18,85,012 |
| 12 | ₹25,880 | ₹10,956 | ₹14,923 | ₹18,74,056 |
EMI calculator FAQs
How is EMI calculated?
EMI is calculated using loan amount, monthly interest rate, and tenure. The standard formula is P x R x (1 + R)^N divided by ((1 + R)^N - 1).
Can this calculator be used for any loan?
Yes. You can use it for home loans, car loans, personal loans, education loans, and most EMI-based loans by entering the right rate and tenure.
Does lower EMI always mean a better loan?
No. A lower EMI often comes from a longer tenure, which can increase total interest. Compare EMI and total interest together.