Plan smarter
EMI Calculator
Estimate your monthly instalment, total interest and total amount payable before you borrow. The calculator runs only in your browser.
Your monthly EMI
₹17,089
- Principal ₹5,00,000
- Total interest ₹1,15,197
- Total amount payable ₹6,15,197
Estimate only, based on a reducing-balance rate. It excludes processing fees, GST and other lender charges, and is not a loan offer. Any actual EMI and APR would be shown in a lender's Key Facts Statement.
View year-wise repayment schedule
| Year | Principal paid | Interest paid | Balance at year end |
|---|---|---|---|
| Year 1 | ₹1,44,079 | ₹60,987 | ₹3,55,921 |
| Year 2 | ₹1,65,596 | ₹39,470 | ₹1,90,326 |
| Year 3 | ₹1,90,326 | ₹14,740 | ₹0 |
Understand your EMI
How is EMI calculated?
An Equated Monthly Instalment (EMI) is the fixed amount you pay the lender every month until the loan is repaid. Each EMI covers part of the principal and the interest on the outstanding balance. Early EMIs have a larger interest component; later EMIs repay more principal.
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]
- P — loan amount (principal)
- r — monthly interest rate (annual rate ÷ 12 ÷ 100)
- n — tenure in months
EMI vs. APR
The EMI shows what you pay each month. The Annual Percentage Rate (APR) shows the full yearly cost of the loan, including interest and fees such as the processing fee. Always compare offers on APR — you will find it in every lender's Key Facts Statement.
Tips for a comfortable EMI
- Keep your total EMIs within 40–50% of your monthly income.
- A longer tenure lowers the EMI but increases the total interest you pay.
- Paying EMIs on time helps maintain a healthy credit score.
HandLoan.ai is not a bank or NBFC and does not lend money. We are a loan facilitation platform. Loans are offered by our lending partners, which sanction and disburse them at their sole discretion, subject to their own eligibility checks, verification and credit assessment. We share your enquiry with a lending partner only with your consent. Approval is not guaranteed and applications may be declined.
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Available to Indian residents aged 21 to 58 with a monthly income of ₹15,000 or more. HandLoan.ai accepts enquiries only from age 21 to 58. Any loan would be subject to a lender's credit assessment.
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