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EMI Calculator: Home, Car, Personal Loan
Short answer. EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r the yearly rate ÷ 12 and n the months. Example: ₹35,00,000 at 8.5% for 20 years gives an EMI of ₹30,374 and ₹37,89,715 of interest. In Kubear you record loans and EMIs.
When people use this
This calculator works out the monthly EMI, the total repaid and the total interest for a loan, from the amount, the yearly interest rate and the period. The same formula applies to a home, car or personal loan.
It also draws how the balance falls and how interest builds up year by year.
The calculation is plain, repeatable arithmetic on the numbers you type. It runs in your browser, so the figures you enter are not sent to a server by this tool. Results are illustrations, not financial, tax or investment advice.
What you enter
- Principal loan amount
- Annual interest rate %
- Loan tenure in years
How it works
The yearly rate is divided by 12 for the monthly rate r, and the years are multiplied by 12 for the number of instalments n. EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount. Total repaid is the EMI times n, and interest is total repaid minus P.
The balance chart applies the same formula month by month, so each year's remaining balance matches what a lender's schedule would show for a fixed rate.
In the early years most of each EMI is interest, and the share going to principal grows over time. A shorter tenure raises the EMI but cuts the total interest, and a longer one does the opposite. Try two tenures to see both figures change together.
Assumptions
- The rate is fixed for the whole period. Floating-rate changes are not modelled.
- Processing fees, insurance, part-payments and prepayment charges are not included.
- Instalments are paid monthly in arrears.
- Lenders round EMIs in their own way, so a bank's figure can differ by a few rupees.
Worked example
₹50 lakh loan
Inputs
- Loan amount: ₹50,00,000
- Interest rate: 8.5% a year
- Tenure: 20 years
Result
- Monthly EMI: ₹43,391
- Total repaid over 240 months: ₹1,04,13,879
- Total interest: ₹54,13,879
Uses the standard reducing-balance EMI formula. Lenders' fees, rate changes and part-payments are not included. This is an illustration with the example inputs shown, not a prediction or advice. Change the inputs on the calculator to see your own figures.
Questions
About this calculator.
01What formula does the EMI calculator use?
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly instalments.
02Why is total interest so large on a long loan?
Interest is charged on the outstanding balance each month, so a longer tenure means more months of interest even though each instalment is smaller.
03Does it include processing fees or floating-rate changes?
No. It assumes a fixed rate for the whole tenure and ignores fees, insurance, part-payments and prepayment charges.