Loan EMI & Payoff Calculator
See exactly where every EMI goes — principal and interest, year by year — and what prepaying a bit extra each month is really worth.
Your numbers
₹
e.g. ₹35,00,000 for a “35 lakh” home loan
%/yr
years
₹5,000
Result — with the workings shown
Monthly EMI
₹30,373.81
₹35,373.81 with your prepayment
Total interest
₹25.48 L
vs ₹37.9 L without prepayment
Loan cleared in
14.3 yrs
5y 9m earlier than scheduled
Total amount payable
₹60.48 L
principal + interest, over the life of the loan
How this is worked out
On a ₹35 L loan at 8.5% over 20 years, the scheduled EMI is ₹30,373.81/mo, and you'd pay ₹37.9 L in interest by the end. Adding ₹5,000/mo as prepayment brings that down to ₹25.48 L — a saving of ₹12.42 L — and clears the loan 5y 9m early.
Principal · ₹35,00,000Interest · ₹25,48,039
Full year-by-year amortization
Notice how the interest column shrinks and the principal column grows every year, even though the EMI itself stays flat — that's the reducing-balance method: interest is charged only on what's still outstanding, so as the balance falls, so does the interest share of each EMI.
| Year | Principal paid | Interest paid | Balance remaining |
|---|---|---|---|
| Year 1 | ₹1,32,052 | ₹2,92,434 | ₹33,67,948 |
| Year 2 | ₹1,43,724 | ₹2,80,762 | ₹32,24,225 |
| Year 3 | ₹1,56,428 | ₹2,68,058 | ₹30,67,797 |
| Year 4 | ₹1,70,254 | ₹2,54,231 | ₹28,97,543 |
| Year 5 | ₹1,85,303 | ₹2,39,182 | ₹27,12,239 |
| Year 6 | ₹2,01,682 | ₹2,22,803 | ₹25,10,557 |
| Year 7 | ₹2,19,509 | ₹2,04,976 | ₹22,91,047 |
| Year 8 | ₹2,38,912 | ₹1,85,574 | ₹20,52,135 |
| Year 9 | ₹2,60,030 | ₹1,64,456 | ₹17,92,106 |
| Year 10 | ₹2,83,014 | ₹1,41,472 | ₹15,09,092 |
| Year 11 | ₹3,08,030 | ₹1,16,456 | ₹12,01,062 |
| Year 12 | ₹3,35,257 | ₹89,229 | ₹8,65,805 |
| Year 13 | ₹3,64,890 | ₹59,595 | ₹5,00,915 |
| Year 14 | ₹3,97,143 | ₹27,342 | ₹1,03,771 |
| Year 15 | ₹1,03,771 | ₹1,467 | ₹0 |
Terms used on this page
- EMI
- Equated Monthly Installment — the fixed amount you pay each month, made up of a principal part and an interest part.
- Principal
- The amount you actually borrowed, before any interest.
- Reducing balance
- Interest each month is charged only on what you still owe, not the original loan amount — so the interest portion of your EMI shrinks over time.
- Prepayment
- An extra payment beyond your EMI, applied straight to the principal — it doesn't reduce this month's EMI, it shortens how many EMIs are left.