A fixed rate for the whole tenure. A floating rate will not match this table.
Year
Principal paid
Interest paid
Total paid
Balance left
1
₹1,02,556
₹4,08,680
₹5,11,236
₹48,97,444
2
₹1,11,345
₹3,99,891
₹5,11,236
₹47,86,099
3
₹1,20,886
₹3,90,350
₹5,11,236
₹46,65,213
4
₹1,31,245
₹3,79,991
₹5,11,236
₹45,33,968
5
₹1,42,492
₹3,68,744
₹5,11,236
₹43,91,476
6
₹1,54,702
₹3,56,534
₹5,11,236
₹42,36,774
7
₹1,67,959
₹3,43,277
₹5,11,236
₹40,68,815
8
₹1,82,352
₹3,28,884
₹5,11,236
₹38,86,463
9
₹1,97,978
₹3,13,258
₹5,11,236
₹36,88,485
10
₹2,14,943
₹2,96,293
₹5,11,236
₹34,73,542
How the EMI is worked out
The balance falls each month. That month’s interest is the opening balance times the monthly rate. The monthly rate is the yearly rate divided by 12.
EMI equals the loan, times the monthly rate, times (1 + monthly rate) to the power of the months, divided by ((1 + monthly rate) to the power of the months, minus 1). At 0% interest, the EMI is the loan divided by the months.
The EMI is rounded to the nearest rupee. The last instalment is whatever principal is left, plus that month’s interest, so the balance ends at zero.
A worked example
₹1,00,000 at 12% for one year. The monthly rate is 1%. (1.01) to the power of 12 is about 1.126825. The unrounded EMI is ₹8,884.88. This calculator rounds it to ₹8,885.
A ₹50,00,000 loan at 8.25% for 20 years has an EMI of ₹42,603. Total interest is ₹52,24,892. You pay back ₹1,02,24,892. The 8.25% figure is a starting point. Use the rate on your sanction letter. The car example starts at 9.5% and the personal-loan example at 14%. Those are not bank offers.
Assumptions and limits
The rate stays fixed for the whole tenure. A floating rate changes the result.
No processing fee, loan insurance, or prepayment charge.
Home-loan interest relief under the old tax regime is not subtracted. This page is the loan maths only.
Interest is on the reducing balance, which is how most retail loans in India work. It is not a flat-rate loan, where interest is charged on the original amount.
No part-prepayment. Extra payments are a different question.
This is an estimate, not a sanction letter. Read the disclaimer.
Questions
Why is so much of the early EMI interest?
Interest is charged on the balance still left. The balance is largest at the start, so the interest is largest then. Later, more of each EMI goes to principal.
Does this include the processing fee?
No. A processing fee, insurance, or a prepayment charge sits outside the EMI. This page does not add them.
What if the bank raises the rate?
This table will not hold. Type the new rate. The EMI or the number of months will change, depending on what the bank does.
Should I pay more than the EMI?
This page does not answer that. The prepay home loan vs invest calculator compares extra payments with putting the same money in a mutual fund.
Home-loan interest, principal and the old first-time buyer rules for FY 2026-27. What section 22 and section 123 allow, and what a 2026 loan cannot claim.
A CIBIL score runs from 300 to 900. How the report is built, the one free report RBI requires each year, and what CIBIL itself says will move the number.