Loan EMI Calculator
Calculate home, auto, and personal loan EMI with transparent math. See total interest and what your EMI could grow to if invested instead.
Principal after down payment
Annual rate (% p.a.)
Loan duration in years
Monthly EMI
₹43,391/mo
Total Payment
₹1,04,13,840
Total Interest
₹54,13,840
Invest-the-difference (30Y at 12%)
₹15.3 Crore
If you invested this EMI as a monthly SIP for 30 years instead of paying interest to the bank.
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Calculator guide
How to use the Loan EMI Calculator
Use the EMI calculator to estimate monthly loan payments, total interest, and the long-term opportunity cost of committing cash flow to a loan.
EMI calculator formula
EMI = P x r x (1 + r)^n / ((1 + r)^n - 1)
- P is the loan principal.
- r is the monthly interest rate.
- n is the number of monthly payments.
- Total interest is total EMI payments minus principal.
What is EMI?
EMI stands for equated monthly instalment. It is the fixed monthly payment you make to repay a loan over a chosen tenure.
The same purchase can feel affordable at the EMI level while still carrying a large interest cost. That is why the total payment and total interest matter as much as the monthly number.
Home loan, car loan, and personal loan use cases
For home loans, small rate changes can create large differences because the tenure is long. For car and personal loans, the rate may be higher and the asset may depreciate faster.
PaisaProof adds an invest-the-difference view so you can see what the same monthly cash flow might become if you delayed or downsized a purchase.
Frequently asked questions
Does a lower EMI always mean a cheaper loan?+
No. A lower EMI can come from a longer tenure, which may increase total interest paid.
Can this calculator be used for home loans?+
Yes. You can use it for home, car, personal, education, or any amortising loan where EMI is fixed.
What happens if I prepay a loan?+
Prepayment usually reduces interest burden, but exact savings depend on lender rules, remaining tenure, and charges.