EMI Calculator
Every input here is a contract term rather than an assumption, so nothing on this page is a guess. The one number worth looking at is the total interest.
What you enter
- Loan amount
- Interest rate
- Tenure
What it tells you
- Monthly EMI
- Total interest paid
- Total repayment
- Loan amount
How this is worked out
The standard reducing-balance formula on the simple monthly rate (annual ÷ 12) — the convention Indian lenders actually amortise on. It is deliberately not the effective monthly rate used for investment growth elsewhere on this site, because a schedule that disagreed with your bank’s would be worse than useless.
What it cannot know
- Processing fees, insurance bundled into the loan, and stamp duty are not included.
- A floating rate will change over the tenure. This holds it flat.
- Prepayment shortens the tenure and cuts total interest sharply; that is not modelled here.
Questions
Why is the total interest so much higher than I expected?
Because early instalments are mostly interest. On a long tenure the total interest can approach or exceed the amount borrowed — which is the number worth seeing before signing, and the reason it is shown beside the EMI rather than buried.
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Sansara is not a SEBI-registered investment adviser or research analyst. This page performs arithmetic on numbers you enter and does not recommend any security, scheme or course of action.