Loan Tenure Calculator
If you know how much you can pay each month, this calculator tells you how long the loan will take to clear and how much interest you will pay.
Results
Time to repay
7 years, 9 months
- Number of payments
- 93
- Total interest
- ₹3,91,497
- Total payment
- ₹13,91,497
Paying ₹15,000.00 a month clears ₹10,00,000.00 in 7 years, 9 months, with ₹3,91,496.54 in interest.
Principal vs interest
- Principal₹10,00,000 (71.9%)
- Interest₹3,91,497 (28.1%)
Show the calculation steps
- Monthly rate r = 9% ÷ 12 = 0.75%.
- n = −ln(1 − P × r ÷ EMI) ÷ ln(1 + r) = 92.77 months, rounded up to 93 because the last payment is smaller.
- Total interest = total paid ₹13,91,496.54 − principal ₹10,00,000.00 = ₹3,91,496.54.
Why a bigger EMI shortens the loan so much
Each extra rupee of EMI goes straight to principal, so it lowers the balance that interest is charged on. Small increases in EMI can shorten the tenure by years and save a large amount of interest.
The EMI must beat the interest
The EMI has to be larger than the interest charged in the first month. If it is not, the balance never falls and the loan cannot be repaid. The calculator warns you if this happens.
Formula
n = −ln(1 − P × r ÷ EMI) ÷ ln(1 + r)
Total payment ≈ EMI × n (the last payment is smaller)
Where:
- n
- = Number of monthly payments
- P
- = Loan amount
- r
- = Monthly interest rate
- EMI
- = Monthly payment
Example calculation
₹10,00,000 at 9% with a ₹15,000 EMI
Inputs
- Loan Amount
- ₹10,00,000
- Interest Rate
- 9 %
- Monthly EMI
- ₹15,000
Result
- Time to repay
- 7 years, 9 months
- Number of payments
- 93
- Total interest
- ₹3,91,497
- Total payment
- ₹13,91,497
Step-by-step
- Monthly rate r = 9% ÷ 12 = 0.75%.
- n = −ln(1 − P × r ÷ EMI) ÷ ln(1 + r) = 92.77 months, rounded up to 93 because the last payment is smaller.
- Total interest = total paid ₹13,91,496.54 − principal ₹10,00,000.00 = ₹3,91,496.54.
Important notes
- The final payment is usually smaller than the regular EMI because it only clears the remaining balance.
Disclaimer: This calculator provides estimates for informational purposes and should not be considered financial advice. Actual figures from lenders, banks and investment products can differ because of fees, taxes, rounding rules and changing rates. Consult a qualified professional before making financial decisions.
Frequently asked questions
How do I find the tenure from an EMI?
n = −ln(1 − P × r ÷ EMI) ÷ ln(1 + r), where r is the monthly rate. The result is rounded up because the last payment is partial.
Why does the calculator say my EMI is too low?
If the EMI is not more than the monthly interest, the balance grows instead of shrinking, so the loan is never repaid.
Does a shorter tenure save money?
Yes. Paying more each month clears the balance sooner, so you pay interest for fewer months.
Related calculators
- EMI CalculatorCalculate the equated monthly instalment (EMI) on a home, car or personal loan, plus the total interest and a year-by-year repayment schedule.
- Loan Repayment CalculatorSee how much you will repay in total and how your balance falls year by year for any loan.
- Home Loan EMI CalculatorCalculate your home loan EMI, total interest and repayment over 5 to 30 years, with a yearly principal and interest schedule.
- Personal Loan EMI CalculatorFind the monthly EMI and total interest on a personal loan for tenures from a few months to several years.
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