An estimate only — starting values are filled in, change them to yours. Nothing you type leaves this page.
What it is
An EMI is the fixed monthly payment on a loan. Early payments are mostly interest; later ones mostly repay the loan itself.
How it's worked out
EMI = P × i × (1 + i)ⁿ ÷ [(1 + i)ⁿ − 1], with P the loan, i the yearly rate ÷ 12 and n the months. Each month, interest is charged on what is still owed and the rest of the EMI cuts the balance.
What each input means
- Loan Amount: How much you borrow.
- Interest Rate (p.a.): The yearly interest % on the loan.
- Loan Tenure: How many years you take to repay.
Good to know
A longer tenure lowers the EMI but raises the total interest a lot. Prepaying early saves the most interest. Processing fees and insurance are extra.
A quick example
₹50 lakh at 8.5% for 20 years: EMI about ₹43,391; you pay about ₹54 lakh in interest on top of the loan.
This calculator is in the Lekhya app too — offline, no account, and pre-filled from what you track, like your PPF, EPF and NPS. Nothing leaves your phone.
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