Calculators Start free

EMI & prepayment calculator

A ₹50 lakh home loan at 8.5% for 20 years costs ₹43,391 a month and ₹54.1 lakh in interest. Paying ₹5,000 extra each month ends it 4 years 5 months early and saves ₹13.9 lakh. Try your own loan below.

Prepayment (optional)
Monthly EMI
₹43,391
Total interest
₹54,13,879
Total paid
₹1,04,13,879
Prepayment saves
₹13,89,250
Loan ends earlier by
4 years 5 months
Principal repaidInterestper year, without prepayment

Assumes a fixed rate; with a prepayment the EMI stays the same and the loan ends sooner.

How the EMI is calculated

For a loan amount P, a monthly rate r = yearly rate ÷ 12 and n monthly instalments:

EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

Each month, interest is charged on the remaining balance and the rest of the EMI repays principal. Early on most of the EMI is interest; towards the end it's mostly principal.

Example

₹50,00,000 at 8.5% for 20 years: r ≈ 0.708%, n = 240, so the EMI is ₹43,391. Over 20 years you pay ₹1,04,13,879, of which ₹54,13,879 is interest.

Does prepaying help?

Every extra payment goes straight to principal, so all future interest on it disappears. In the example, ₹5,000 extra a month cuts the loan from 240 to 187 months and saves ₹13,89,250 in interest. Check whether your lender charges a prepayment fee; for floating-rate home loans to individuals in India, banks generally may not.

Estimates for planning, not financial advice. Real loans may use different rounding, fees or rate changes. Last reviewed 4 October 2026.

See your EMI next to everything else. fineasy24 handles recurring payments like your EMI automatically and shows your monthly picture at a glance.

Start free with Google