About this tool
Enter a loan amount, annual interest rate and tenure to get the fixed monthly installment (EMI), the total interest paid over the life of the loan, and the total amount repaid. The standard amortization formula is used: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where r is the monthly rate.
The striking output is usually total interest: on a 25-year mortgage at typical rates, interest can approach or exceed the principal itself. Seeing the full repayment figure next to the monthly number is the fastest way to understand what a longer tenure really costs. This is an estimate for comparison purposes, not financial advice — lenders add fees and use their own rounding.
How to use it
- Enter the loan principal.
- Set the annual interest rate and tenure in years.
- Read the monthly EMI, total interest and total repayment.
Frequently asked questions
What does EMI stand for?
Equated Monthly Installment — a fixed payment that covers both interest and principal so the loan fully amortizes by the end of the tenure.
Why is early-tenure payment mostly interest?
Interest accrues on the outstanding balance, which is largest at the start. As the balance falls, more of each fixed payment goes to principal.
Does a longer tenure save money?
It lowers the monthly payment but increases total interest, often dramatically. Shorter tenure costs more per month and less overall.