A loan is one of the biggest financial commitments most people make. Yet many borrowers only see the headline EMI number — not the total interest they’ll pay over the life of the loan, and not how that cost changes with a different tenure or rate.
Today we’re launching EMI Calculator on Tools.Town — a full loan calculator that shows your monthly payment, total cost, and the complete amortisation schedule.
What it calculates
Enter three numbers: principal (what you’re borrowing), annual interest rate (from your lender), and tenure in months. The calculator instantly shows:
- Monthly EMI — your fixed payment amount
- Total interest payable — the full cost of borrowing over the loan term
- Total amount payable — principal + interest combined
- Amortisation table — every month, broken down into principal repaid, interest charged, and outstanding balance
The number that surprises people
The total interest figure is usually the one that stops people in their tracks. A ₹50 lakh home loan at 8.5% over 20 years costs roughly ₹43.5 lakh in interest — nearly as much as the loan itself. Reducing the tenure to 15 years cuts that to about ₹29.5 lakh, saving ₹14 lakh, even though the monthly EMI rises by only ₹5,000.
The amortisation table makes this tangible. You can see, month by month, how early payments are mostly interest and how the ratio shifts as the principal reduces.
How tenure changes the picture
| Tenure | EMI (₹5L at 10%) | Total Interest |
|---|---|---|
| 5 years | ₹10,624 | ₹1,37,480 |
| 10 years | ₹6,608 | ₹2,92,960 |
| 20 years | ₹4,825 | ₹6,57,940 |
A 20-year tenure has an EMI that’s less than half the 5-year figure. But you pay nearly 5× more in interest. This is the trade-off worth understanding before you sign.
How to use it
- Enter your loan amount (principal)
- Enter the annual interest rate from your bank
- Enter the tenure in months (e.g. 240 for 20 years)
- Read the EMI, total interest, and total payable
- Scroll to the amortisation table to see the month-by-month breakdown
No submit button. Results update as you type.
Try it
Related: How EMI Works → — understand the reducing-balance formula behind every loan in India.
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Frequently Asked Questions
What loan types does this work for?
What formula does it use?
Does it show the amortisation schedule?
Can I use it for floating-rate loans?
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