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EMI Loan Calculator & Amortization
Plan your Home, Car, or Personal loan with precision. Calculate monthly EMI, total interest liability, and view full yearly amortization schedules.
₹
₹50,000Total borrowed amount₹20,000,000
%
4%Annual interest percentage24%
Years
1 Years240 Total EMIs30 Years
Monthly Commitment
Monthly Loan EMI₹26,035
Total Payable₹62.48L
Principal:48%
Interest:52%
Principal Amount₹30,00,000
Total Interest Payable₹32,48,327
Total Payment (Principal + Interest)₹62,48,327
Yearly Loan Amortization Schedule
Year-by-year reduction of your principal loan balance and interest share.
Formula & Mathematical Definition
The standard reducing-balance Equated Monthly Installment (EMI) mathematical formula used by major banks (SBI, HDFC, ICICI, etc.) is:
EMI = [P × r × (1 + r)^n] ÷ [(1 + r)^n - 1]- P = Principal Loan Amount borrowed
- r = Periodic Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
- n = Loan Tenure in Months (Tenure Years × 12)
How to Use & Step-by-Step Example
- Select Loan Preset: Click Home Loan, Car Loan, or Personal Loan to load benchmark interest rates and tenures.
- Adjust Loan Amount: Use the synchronized slider or type your loan principal (₹50,000 to ₹2 Crore+).
- Set Interest Rate: Enter your lender's annual percentage rate (p.a.).
- Select Tenure: Choose your loan duration in years.
- Review Charts & Amortization: The visual donut chart breaks down Principal vs Total Interest, and the interactive table shows your annual debt reduction.
Standard Reference Slabs & Benchmarks
| Loan Category | Average Interest Rate (p.a.) | Typical Tenure Horizon |
|---|---|---|
| Home Loan (Mortgage) | 8.35% – 9.50% | 15 to 30 Years |
| Auto / Car Loan | 8.75% – 10.50% | 3 to 7 Years |
| Personal Loan (Unsecured) | 10.50% – 16.00% | 1 to 5 Years |
| Education Loan | 8.50% – 11.50% | 5 to 15 Years |
Frequently Asked Questions (FAQ)
EMI stands for Equated Monthly Installment. It is the fixed monthly amount a borrower pays to the lender over the loan tenure. It comprises both principal repayment and interest on the outstanding balance.