EMI calculator
The fixed monthly payment on a reducing-balance loan. Useful before a personal loan, a two-wheeler loan, or an education loan. Less useful as a reason to take one.
Monthly EMI Payment
Monthly₹10,747
Fixed reducing-balance installment debited each month.
Total Interest Cost
₹1,44,817
Pure interest fee
Total Amount Paid
₹6,44,817
Principal + interest
| Year | Paid so far | Balance left |
|---|---|---|
| 1 | ₹1,28,963 | ₹4,19,747 |
| 2 | ₹2,57,927 | ₹3,30,651 |
| 3 | ₹3,86,890 | ₹2,31,735 |
| 4 | ₹5,15,854 | ₹1,21,919 |
| 5 | ₹6,44,817 | ₹0 |
How the number is calculated
Interest is charged each month on the balance you still owe. The payment stays the same, so early payments are mostly interest and later payments are mostly principal. The chart’s two lines are the amount you have paid and the balance left.
What this leaves out
Processing fees, insurance that is bundled into the loan, a missed-payment charge, and prepayment. A loan that looks cheap on EMI can be expensive once those are added. Read the sanction letter for the interest rate and the total amount payable, and compare that with this result.
If the EMI plus rent uses most of your take-home, the loan is the wrong size even if the bank approved it. The budget calculator is the other half of the decision.