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Live Calculationsecurity Local Math Engine
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Formula Details
Equated Monthly Installments (EMI) are calculated using the standard reducing balance amortization model.
EMI
Equated Monthly Installment
P
Principal Loan Amount borrowed
r
Monthly interest rate (Annual Rate / 12 / 100)
n
Total loan repayment tenure in months (Years × 12)
Reference Deck
Sample projections under common configurations.
| Scenario | Short-Term | Medium-Term | Long-Term |
|---|---|---|---|
| ₹20 Lakh Home Loan (8.5% p.a.) | 10 Yrs EMI: ₹24,797 | 15 Yrs EMI: ₹19,695 | 20 Yrs EMI: ₹17,356 |
| ₹50 Lakh Home Loan (8.5% p.a.) | 10 Yrs EMI: ₹61,993 | 15 Yrs EMI: ₹49,237 | 20 Yrs EMI: ₹43,391 |
| ₹5 Lakh Personal Loan (12% p.a.) | 3 Yrs EMI: ₹16,607 | 5 Yrs EMI: ₹11,122 | 7 Yrs EMI: ₹8,812 |
FAQs
Reducing balance amortization means that interest is calculated only on the remaining outstanding principal amount, not the initial loan principal, saving you massive interest charges over the tenure.
You can reduce your total interest liability by opting for a shorter tenure, making regular part-prepayments, or using balance transfer facilities to switch to a lower interest rate.
Under RBI regulations, individual borrowers with floating interest rate home loans do not attract any prepayment penalties from banks or financial institutions.
Goal-based investing is a strategy where you allocate your investments towards specific life goals, such as buying a house, children's education, or retirement.
The most common mistake people make is ignoring inflation. A car that costs ₹10 Lakhs today will cost much more in 5 years. This calculator automatically adjusts your target for inflation.
