EMI
Equated monthly instalment
The fixed monthly payment that repays a loan and its interest over the loan's tenure.
Early EMIs are mostly interest; later ones are mostly principal. A longer tenure lowers the EMI but raises the total interest paid.
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n the number of months.
Example
₹30 lakh at 8.5% for 20 years: an EMI of about ₹26,035, with ₹32.5 lakh of interest in total.
Loan EMI Calculator
Monthly EMI, total interest and a year-by-year repayment schedule for any loan.
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Rules as of tax year 2026-27. Written by the Welthr team; last reviewed on . Not financial advice.