emi calculator: your monthly loan payment
a ₹50 lakh home loan for 20 years at 8.5% has an emi of about ₹43,391 a month, with about ₹54,13,879 paid in interest over the loan. enter your loan amount, rate and tenure below.
the emi formula
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount, r is the monthly rate (annual rate / 12 / 100) and n is the number of months. this is the reducing-balance method banks use for home, car and personal loans at a fixed rate.
common loans
| loan | monthly emi | total interest |
|---|---|---|
| ₹10 lakh, 5 yr, 10.5% | ₹21,494 | ₹2,89,634 |
| ₹30 lakh, 20 yr, 8.5% | ₹26,035 | ₹32,48,327 |
| ₹50 lakh, 20 yr, 8.5% | ₹43,391 | ₹54,13,879 |
| ₹50 lakh, 30 yr, 8.5% | ₹38,446 | ₹88,40,443 |
| ₹75 lakh, 25 yr, 8.75% | ₹61,661 | ₹1,09,98,232 |
illustrative fixed-rate maths. processing fees, insurance, rate resets and lender rounding are not included. not financial advice.
calculate yours
prepayment
a part-prepayment cuts the principal, so less interest builds up afterwards. if you keep the same emi and shorten the tenure, you usually save more interest than if you keep the tenure and lower the emi.
use the emi calculator inside chatgpt
questions people ask
What is the EMI on a ₹50 lakh home loan for 20 years at 8.5%?
About ₹43,391 a month. Total interest over 240 months is about ₹54,13,879, so you repay about ₹1,04,13,879 in all, at a fixed rate.
How is EMI calculated?
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1), with P the loan amount, r the monthly interest rate and n the number of monthly payments.
Does a longer tenure lower the EMI?
Yes, but you pay much more interest. ₹50 lakh at 8.5% costs about ₹54,13,879 in interest over 20 years and about ₹88,40,443 over 30 years.
Is it better to reduce tenure or EMI after a prepayment?
Reducing tenure while keeping the same EMI usually saves more total interest. Reducing EMI keeps more cash free every month.