EMI calculator, made clear.
Work out your monthly instalment, total interest and full repayment schedule. Then see how tenure, prepayments and your budget change the picture.
Illustrative figures using a fixed rate on reducing balance. Fees are not included; your exact rate and APR are in your Key Fact Statement.
See the whole picture, not just the EMI.
A lower EMI usually means more interest overall. Compare every tenure side by side and choose what's right for you.
Total interest by tenure
For at p.a. Tap a bar to pick that tenure.
| Tenure | EMI | Total interest | Total payable |
|---|
Where every EMI actually goes.
Early EMIs are mostly interest; later ones are mostly principal. Switch between a yearly summary and the full month-by-month schedule.
What if you pay a little extra?
Got a bonus or a windfall? A one-time part-prepayment cuts your principal, so you pay less interest and finish sooner. Your EMI stays the same.
Uses the loan from the calculator above. Prepayment charges, if any, are not included; check your Key Fact Statement.
Start from your budget, not the loan.
A comfortable rule of thumb: keep all your EMIs together under about 40% of your monthly take-home pay.
An indicative guide only. Your actual eligibility depends on your credit profile and our assessment.
The maths, in plain words
An EMI (Equated Monthly Instalment) is the fixed amount you pay every month until the loan is repaid. Each EMI covers that month's interest on the outstanding balance, and the rest reduces the principal.
What changes your EMI
Borrow more and your EMI rises in proportion. Borrow only what you need.
Higher amount → higher EMISet by your credit score, income and employer. Even 1% makes a real difference over years.
Higher rate → higher EMI and interestA longer tenure lowers each EMI but increases the total interest you pay.
Longer tenure → lower EMI, more interestWays to lower your cost
- 1Improve your credit score before applying. Pay every bill on time and keep card usage under 30%.
- 2Pick the shortest tenure you can comfortably afford to cut total interest.
- 3Prepay when you can. Bonuses put towards the principal early save the most.
Is the EMI shown here exactly what I'll pay?
It's accurate for the amount, rate and tenure you enter. Your actual rate depends on your profile, and fees such as a processing fee are shown separately in your Key Fact Statement.
Does my EMI change during the loan?
No. Skyrise personal loans have a fixed rate, so your EMI stays the same every month for the whole tenure.
Why is so much of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay principal, the interest portion falls and more of each EMI goes towards the principal.
Should I choose a shorter or longer tenure?
Shorter tenures cost less in total interest but have higher EMIs. Choose the shortest tenure whose EMI fits comfortably in your budget, keeping total EMIs under about 40% of take-home pay.
When is the EMI deducted?
On a fixed date each month, automatically from your bank account through e-NACH. You'll know every due date from day one.
Can I reduce my EMI after taking the loan?
A part-prepayment lowers your outstanding principal. Depending on your loan terms, it can shorten your tenure or reduce your EMI. Talk to us and we'll show you both options.
Like these numbers? Make them yours.
See your personalised rate in about 2 minutes. No impact on your CIBIL score.