Home loan EMI calculator

Work out your monthly EMI and see how a prepayment changes the loan.

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Loan amount (₹)Annual interest rate (%)Loan termTerm unit

Optional one-time prepayment

Extra amount (₹)After monthly payment number

The regular EMI stays the same and the term becomes shorter. Any extra amount above the remaining balance is ignored.

Monthly EMI

Total interest
Total paid

Repayment schedule

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The final payment can differ to clear the remaining balance.

Year-by-year repayment schedule
Loan year	Opening (₹)	Payments (₹)	Principal (₹)	Interest (₹)	Prepayment (₹)	Balance (₹)

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Updated 2026-10-04

How the EMI is calculated

For principal P, monthly rate r and n monthly payments, EMI = P × r / (1 − (1 + r)^(−n)). The monthly rate is the annual percentage divided by 1,200. At zero interest, EMI = P / n. These are our own annuity calculations.

The schedule applies interest to the opening balance, takes the regular payment, then takes any one-time prepayment. The EMI stays the same and prepayment shortens the term. A prepayment above the outstanding balance is capped at that balance.

By loan year groups each set of 12 months from the start of the loan, not a calendar or financial year. The monthly CSV includes every payment, interest amount, principal reduction, prepayment and remaining balance.

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A worked example

A ₹1,20,000 loan at 0% over 12 months has an EMI of ₹10,000 and no interest. A ₹30,000 prepayment after payment 3 clears the same loan in 9 months.

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Before you use the result

This estimate assumes a fixed nominal annual rate and monthly interest charged before each end-of-month payment. It excludes fees, insurance, taxes, daily-interest adjustments and lender rules. It does not quote a bank rate or assess eligibility. Each interest amount and regular EMI is rounded to the nearest paise, with halves rounded up; the final payment clears the remaining balance. A positive EMI below one paise becomes one paise. Inputs: up to ₹1 lakh crore, 0–100% annual interest, and 1–600 months. Enter whole years or whole months.

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