EMI Calculator
Monthly instalment with a year-by-year amortisation.
Enter the loan, the rate and the tenure. The schedule shows how little of an early instalment actually reduces the loan.
Where the money goes early on
In the first year of a long loan, most of each instalment is interest. That is not a bank trick — it follows from charging interest on the outstanding balance, which is highest at the start. It does mean prepayments early are worth far more than prepayments late.
Tenure versus EMI
A longer tenure lowers the instalment and raises the total interest, often dramatically. Extending a home loan from fifteen years to twenty-five can more than double the interest paid.
Floating rates
Most home loans are linked to an external benchmark and reprice as it moves. Banks usually hold the EMI and change the tenure, which hides the impact. Ask for the revised amortisation, not just the revised rate.
Costs beyond interest
Processing fee, legal and valuation charges, and insurance sold alongside the loan. Compare the total cost, not the headline rate.