Loan Calculator

A general-purpose loan calculator for any borrowing in India. Set the amount, rate and tenure, then use the comparison table to see how the EMI and total interest change as the term gets longer.

A ₹5,00,000 loan at 11% over 5 years has an EMI of ₹10,871, and costs ₹1,52,277 in total interest.

Loan amount

₹

Interest rate (per year)

Loan tenure

Monthly EMI

₹10,871

for 5 years

Principal

₹5,00,000

Total interest

₹1,52,277

Total payment

₹6,52,277

Principal vs interest

Principal: ₹5,00,000 (76.7%)
Total interest: ₹1,52,277 (23.3%)

Compare tenures

EMI and total interest at different tenures
Tenure	EMI	Total interest	Total payment
1 year	₹44,191	₹30,290	₹5,30,290
2 years	₹23,304	₹59,294	₹5,59,294
3 years	₹16,369	₹89,299	₹5,89,299
5 years	₹10,871	₹1,52,277	₹6,52,277
7 years	₹8,561	₹2,19,151	₹7,19,151
10 years	₹6,888	₹3,26,452	₹8,26,452

Amortisation schedule

How each instalment splits between interest and principal.

Monthly EMI

₹10,871

5 years

What it is:: A general-purpose loan calculator with a tenure comparison built in.
What it calculates:: EMI, total interest and total repayment, then the same loan rebuilt across several tenures.

Assumptions

Reducing-balance interest, not a flat rate.
The full sanctioned amount is disbursed.
The rate does not change mid-tenure.

How it works

The calculator applies the standard reducing-balance formula, then rebuilds the same loan across several tenures so you can compare EMI against total interest.

Total repayment is the sum of every instalment in the schedule, which is why it always equals the loan amount plus total interest.

Formula

EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)

P: = loan amount (principal)
r: = monthly interest rate = annual rate / 12 / 100
n: = tenure in months

At 0% interest the formula collapses to EMI = P / n, which is what no-cost EMI offers use.

Example calculation

A ₹5,00,000 loan at 11% for 5 years

Loan amount: ₹5,00,000
Interest rate: 11% a year
Tenure: 5 years
Monthly EMI: ₹10,871
Total interest: ₹1,52,277
Total payment: ₹6,52,277

Frequently asked questions

Which tenure should I pick?

The shortest one whose EMI you can comfortably pay every month, including in a bad month. Shorter tenures cost far less in total interest, but an EMI that strains your budget is the more expensive mistake.

Can I use this for a flat-rate loan?

No. This calculator uses reducing-balance interest, which is what banks and NBFCs use for retail loans. A flat rate charges interest on the full amount for the whole tenure and works out considerably more expensive at the same headline rate.

What counts as the loan amount?

The amount actually disbursed to you. If the lender deducts a processing fee from the disbursal, the EMI is still calculated on the sanctioned amount, not the reduced amount you receive.

Does a floating rate change these numbers?

Yes. On a floating-rate loan the EMI or tenure is reset when the benchmark moves. Rerun the calculator with the new rate after each reset to see the updated position.