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How each year's payment splits between principal and interest.
| Year | Principal | Interest | Balance |
|---|
Banks use the reducing-balance formula — you pay interest only on what you still owe.
P = loan amount · r = monthly interest rate · n = number of months
Learn how your loan really works.
Home Loan EMI in India: How Banks Calculate It (With Examples)
Car Loan EMI Guide: Down Payment vs Tenure (With Examples)
Personal Loan EMI: How Interest Rates Really Work
Home loan EMI by bank:
SBI · HDFC Bank · ICICI Bank · Axis Bank · Kotak Mahindra · PNB
Straight answers, no jargon.
With the formula E = P × r × (1+r)n / ((1+r)n − 1), where P is the loan amount, r the monthly interest rate and n the number of installments. LoanCalculatorEMI applies it instantly as you move the sliders.
It tells you the fixed monthly payment for a housing loan. Pick the Home loan preset (8.5%), enter the amount and tenure up to 30 years, and see the EMI, total interest and year-by-year schedule.
Same math, shorter tenure and slightly higher rate. Use the Car loan preset (9.5%), set the amount and tenure (usually 3–7 years) to get the monthly EMI and total interest.
It lowers the monthly EMI but raises total interest. Move the tenure slider and watch total interest change — the shortest tenure you can comfortably afford is usually cheapest.
Part-prepayment cuts the outstanding principal. Lenders then lower your EMI or shorten the tenure — shortening tenure saves more interest. Some lenders charge a prepayment fee, so check first.
Early on the outstanding principal is largest, so most of each EMI goes to interest. Over time the interest share shrinks and principal share grows — the table above shows this shift year by year.