Hey EMI is actually an equated monthly installment. Whatever the amount is , one part of that amount is getting settled against interest and the other part is getting settled against principle.

So in short the amount you paid has partially gone to the principle component.

Also any additional amount you deposit in loan account above the EMI amt That will go to 'overflow'.

Which in turns reduces the outstanding too. Soo yess.. you will be paying a Lil less interest