Loan EMI Calculator
Buying property, a car, or financing anything on credit? See the real monthly cost, the total interest you'll pay, and how the loan burns down year by year.
Your loan
Year-by-year payoff schedule
| Year | Principal paid | Interest paid | Balance |
|---|
Understand what a loan really costs
The sticker price of borrowing is never the loan amount — it's the total payment: principal plus every month of interest. On a 20-year loan at typical rates, total interest can approach or exceed the amount you borrowed. The donut above makes that split visible instantly, and the payoff schedule shows where each year's payments actually go.
The same EMI formula banks use — P × r × (1+r)n ÷ ((1+r)n − 1) — powers this calculator, so the instalment matches what a lender will quote for the same rate and tenure (before fees and insurance, which vary by lender).
Three levers that change everything
- Tenure — stretching a loan lowers the EMI but multiplies total interest. Drag the tenure slider from 30 to 15 years and watch the interest slice shrink.
- Rate — even 0.5% matters at scale. On a large, long loan, half a percent can be the price of a car.
- Prepayment — paying extra principal early hits the balance when interest bites hardest. Many lenders allow partial prepayment free of charge; check yours.
EMI as an investment decision
Borrowing and investing are two sides of one question: what does your money earn versus what does it cost? If your loan rate is higher than the after-tax return you expect from investing, paying the loan down faster is often the better "investment". Run this calculator side by side with the compound interest calculator to compare both paths with your own numbers.