M-TechRidge Blog

Loan EMI Calculator




|
0
|
50L
|
100L
|
150L
|
200L
|
5
|
7.5
|
10
|
12.5
|
15
|
17.5
|
20
%
|
0
|
5
|
10
|
15
|
20
|
25
|
30

Loan EMI

66,891

Total Interest Payable

93,53,949

Total Payment
(Principal + Interest)

1,60,53,949

Created with Highcharts 4.2.2Break- up of Total Payment 41.7 % 58.3 % Principal Loan AmountTotal Interest
YearPrincipalInterestBalance
2020₹ 59,406₹ 4,08,834₹ 66,40,594
2021₹ 1,10,660₹ 6,92,037₹ 65,29,933
2022₹ 1,22,855₹ 6,79,842₹ 64,07,078
2023₹ 1,36,394₹ 6,66,303₹ 62,70,684
2024₹ 1,51,425₹ 6,51,272₹ 61,19,258
2025₹ 1,68,113₹ 6,34,584₹ 59,51,145
2026₹ 1,86,640₹ 6,16,058₹ 57,64,506
2027₹ 2,07,208₹ 5,95,489₹ 55,57,298
2028₹ 2,30,043₹ 5,72,654₹ 53,27,255
2029₹ 2,55,395₹ 5,47,303₹ 50,71,860
2030₹ 2,83,540₹ 5,19,157₹ 47,88,320
2031₹ 3,14,787₹ 4,87,910₹ 44,73,533
2032₹ 3,49,478₹ 4,53,220₹ 41,24,055
2033₹ 3,87,991₹ 4,14,706₹ 37,36,064
2034₹ 4,30,749₹ 3,71,948₹ 33,05,315
2035₹ 4,78,219₹ 3,24,478₹ 28,27,095
2036₹ 5,30,921₹ 2,71,777₹ 22,96,174
2037₹ 5,89,430₹ 2,13,267₹ 17,06,744
2038₹ 6,54,387₹ 1,48,310₹ 10,52,357
2039₹ 7,26,503₹ 76,194₹ 3,25,854
2040₹ 3,25,854₹ 8,603₹ 0
 
Loan EMI = P * R * (1+R)n
[(1+R)n]-1

P = Principal loan amount;

R = Rate of interest calculated on monthly basis i.e. (R= Annual rate of interest/12/100).

For instance, if R = 8% per annum, then R= 8/12/100 = 0.0067; and

N = the number of monthly installments.

For example, if you borrow Rs 5,00,000 from a bank at 8% rate of interest for a tenure of 10 years then,

EMI = 500000 * 0.0066 * (1+0.0067)120 =6,066.00
[(1+0.0067)120]-1