Your cookie choices

We use necessary storage to keep the site working. With your permission, we remember calculator settings, measure visits with Google Analytics, record browsing with Microsoft Clarity, and measure ads with Google and Meta. You can use the site with all optional cookies declined. Cookie Policy

All Calculators

EMI Calculator

Reducing balance EMI — used by banks for home, car & personal loans

₹
₹10,000₹1,00,00,000
% p.a.
5% p.a.30% p.a.
6360
Monthly EMI
₹23,537
Total Interest Payable
₹64,882
Principal Amount
₹5,00,000
Total Payment₹5,64,882
Share on WhatsApp
Principal
Interest
Total₹5,64,88211% returns

Month-by-month repayment schedule

MonthEMIPrincipal PaidInterest PaidBalance
1₹23,537₹18,537₹5,000₹4,81,463
2₹23,537₹18,722₹4,815₹4,62,741
3₹23,537₹18,909₹4,627₹4,43,832
4₹23,537₹19,098₹4,438₹4,24,733
5₹23,537₹19,289₹4,247₹4,05,444
6₹23,537₹19,482₹4,054₹3,85,962
7₹23,537₹19,677₹3,860₹3,66,285
8₹23,537₹19,874₹3,663₹3,46,411
9₹23,537₹20,073₹3,464₹3,26,338
10₹23,537₹20,273₹3,263₹3,06,065
11₹23,537₹20,476₹3,061₹2,85,589
12₹23,537₹20,681₹2,856₹2,64,908

Reducing balance: each EMI pays that month’s interest first; the rest reduces the principal, so the interest share falls every month.

What is EMI Calculator?

An EMI (Equated Monthly Instalment) is a fixed payment made by a borrower to a lender every month. It includes both a principal repayment component and an interest component, calculated on the reducing outstanding balance. The standard EMI formula is: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P = principal, r = monthly rate, n = number of months.

How to use VyajPay's EMI Calculator?

Enter your loan amount, the annual interest rate charged by the bank or lender, and the loan tenure in months. The calculator instantly computes your monthly EMI, the total interest you will pay over the entire tenure, and the total amount repayable. You can also see how much of your total outgo is interest vs. principal using the donut chart.

01

Adjust the sliders or type values to match your scenario.

02

Watch the donut chart update live — blue arc = your returns.

03

Read the result summary below the inputs for the final numbers.

EMI per ₹1 lakh of loan — quick reference

Rate (p.a.)1 year3 years5 years10 years20 years
8%₹8,699₹3,134₹2,028₹1,213₹836
10%₹8,792₹3,227₹2,125₹1,322₹965
12%₹8,885₹3,321₹2,224₹1,435₹1,101
14%₹8,979₹3,418₹2,327₹1,553₹1,244
16%₹9,073₹3,516₹2,432₹1,675₹1,391
18%₹9,168₹3,615₹2,539₹1,802₹1,543

Reducing balance. Multiply by your loan in lakhs — a ₹5 lakh loan at 12% for 5 years is 5 × ₹2,224 ≈ ₹11,120/month.

Why use VyajPay's EMI Calculator?

  • Compare EMIs across different loan amounts, rates, and tenures in seconds
  • Understand the true cost of borrowing before signing any loan agreement
  • Visualize principal vs. interest split with an interactive chart
  • Works for home loans, car loans, personal loans, business loans

Frequently Asked Questions

Your EMI increases proportionally. Even a 0.5% rate hike can significantly increase total interest paid on long-tenure loans like home loans.

Yes. Most lenders allow partial prepayment, which reduces either your EMI amount or the remaining tenure. Use VyajPay's flat vs. reducing calculator to compare scenarios.

Yes. All Indian banks and NBFCs use the reducing balance (diminishing balance) formula, which is exactly what this calculator uses.

Related calculators

Simple Interest (Byaj)Calculate flat-rate interest on loans — daily, monthly, or yearlyCompound InterestInterest on interest — see how compounding grows your loan or investmentFlat Rate EMIFlat rate EMI calculation common in informal lending — see the true costSekda Byaj CalculatorRupees per hundred per month converted to a real annual rateMahajani Byaj CalculatorInterest-only lending — byaj every month, principal returned at the endInterest Rate CalculatorWork backwards from the amount repaid to the rate you were actually chargedLoan Type ComparisonFlat vs reducing balance vs interest-only — same money, three costsSIP CalculatorCalculate wealth created by monthly SIP investments with compounding returns

Byaj ka hisab, the Indian way

Byaj calculatorByaj ka hisab appUdhar khata appInterest-only (mahajani) loansFlat vs reducing balance

Ready to track your actual loans?

Use these calculators to plan, then track your real loans, EMIs and borrowers in the VyajPay app for Android and iPhone.

Download VyajPay Free← All Calculators