Calculate your monthly loan installment instantly for home, car, personal, education & business loans. Free, accurate & no signup required.
Calculate your monthly loan installment instantly for home, car, personal, education & business loans. Free, accurate & no signup required.
Monthly EMI
₹10,501
Total Interest
₹1,30,056
Total Payment
₹6,30,056
Loan Breakdown
Home Loan
8.40% – 9.50%
Car Loan
8.75% – 12%
Personal Loan
10.5% – 24%
Education Loan
7.5% – 14%
Business Loan
10% – 22%
EMI = P × r × (1+r)ⁿ
÷ [(1+r)ⁿ − 1]
P = Principal amount
r = Monthly interest rate
n = Tenure in months
✓Prepay early to save maximum interest
✓Choose shorter tenure when possible
✓Compare rates from 3+ banks
✓Keep EMI below 40% of income
✓Check for zero prepayment charges
Each loan type has different rates and eligibility. Choose your specific loan type for accurate results.
Rate: 8.40% – 9.50%
Tenure: Up to 30 yr
Max: ₹10 Cr
Calculate Home Loan EMI →
Rate: 8.75% – 12%
Tenure: Up to 7 yr
Max: ₹50 L
Calculate Car Loan EMI →
Rate: 10.5% – 24%
Tenure: Up to 6 yr
Max: ₹50 L
Calculate Personal Loan EMI →
Rate: 7.5% – 14%
Tenure: Up to 15 yr
Max: ₹1 Cr
Calculate Education Loan EMI →
Rate: 10% – 22%
Tenure: Up to 15 yr
Max: ₹5 Cr
Calculate Business Loan EMI →
EMI stands for Equated Monthly Installment — a fixed amount you pay to your bank every month until the loan is fully repaid. Each EMI covers both principal and interest.
In early months, a larger share goes toward interest. As principal reduces, more goes toward principal. This shift is visible in the amortization schedule above.
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
P = Principal loan amount
r = Monthly interest rate = Annual rate ÷ 12 ÷ 100
n = Loan tenure in months
Example
₹30 lakh home loan at 8.5% for 20 years → EMI = ₹26,035/month. Total interest = ₹32.48 lakh.
Step 1 — Enter your loan amount using the slider or type it directly.
Step 2 — Set the interest rate offered by your bank.
Step 3 — Choose your preferred loan tenure in months.
Step 4 — Instantly see your monthly EMI, total interest and full breakdown.
Step 5 — View the amortization schedule for month-by-month details.
Prepay early
The best time to prepay is in the first few years — that is when your interest component is highest.
Use your annual bonus
A one-time lump sum from your bonus can reduce your tenure by months or even years.
Round up your EMI
If your EMI is ₹26,035, pay ₹27,000 instead. The small extra adds up significantly over years.
Choose reduce tenure over reduce EMI
When prepaying, banks offer both options. Reducing tenure always saves more interest.
Check for prepayment charges
RBI has mandated zero prepayment penalty on floating-rate home loans. Fixed-rate loans may carry 2-5% charges.
→Section 80C: Up to ₹1.5 lakh/year on principal repaid
→Section 24(b): Up to ₹2 lakh/year on interest paid
→Section 80EEA: Additional ₹1.5L for first-time buyers
→Section 80E: Full interest deductible — no upper limit
→Available for up to 8 years from repayment start
→Applicable for self, spouse or children's education
→No direct tax benefits for salaried individuals
→Business use: interest can be claimed as business expense
Tax benefits apply under old tax regime only. Consult a CA for personalized advice.
Indicative rates — confirm with bank before applying
| Bank | Rate (p.a.) | EMI per ₹1L / 20 yr |
|---|---|---|
| SBI | 8.50% | ₹868 |
| HDFC Bank | 8.75% | ₹885 |
| ICICI Bank | 8.75% | ₹885 |
| Bank of Baroda | 8.40% | ₹861 |
| PNB | 8.45% | ₹864 |
| Kotak Mahindra | 8.75% | ₹885 |
| Axis Bank | 8.75% | ₹885 |
| LIC HFL | 8.50% | ₹868 |
The EMI is based on the standard reducing balance formula used by all banks. Actual amount may differ slightly due to rounding, processing fees or different compounding methods.
Missing an EMI results in a penalty fee (typically 1-2% of EMI), a negative CIBIL score impact, and additional interest on the overdue amount.
Yes, if you have a floating rate loan. Your EMI can change when the bank adjusts the rate based on RBI repo rate movements.
A shorter tenure means higher EMIs but significantly lower total interest. Use the calculator above to compare both scenarios.
Financial experts recommend total EMIs should not exceed 40-50% of your monthly take-home salary.
Partial prepayments generally do not affect your score negatively. Timely full repayment is the best way to build a strong credit score.
🎯
Instant Results
Get EMI, interest & total in real-time as you move sliders.
📋
Amortization Schedule
Full month-by-month breakdown of every payment.
🔒
100% Private
No login, no signup. All calculations in your browser.
📱
Mobile Friendly
Works perfectly on any device — phone, tablet or desktop.
Learn more about loans and smart borrowing
Explore related financial calculators to plan your finances better
Home Loan
8.40% – 9.50%
Car Loan
8.75% – 12%
Personal Loan
10.5% – 24%
Education Loan
7.5% – 14%
Business Loan
10% – 22%
EMI = P × r × (1+r)ⁿ
÷ [(1+r)ⁿ − 1]
P = Principal amount
r = Monthly interest rate
n = Tenure in months
✓Prepay early to save maximum interest
✓Choose shorter tenure when possible
✓Compare rates from 3+ banks
✓Keep EMI below 40% of income
✓Check for zero prepayment charges
Each loan type has different rates and eligibility. Choose your specific loan type for accurate results.
Rate: 8.40% – 9.50%
Tenure: Up to 30 yr
Max: ₹10 Cr
Calculate Home Loan EMI →
Rate: 8.75% – 12%
Tenure: Up to 7 yr
Max: ₹50 L
Calculate Car Loan EMI →
Rate: 10.5% – 24%
Tenure: Up to 6 yr
Max: ₹50 L
Calculate Personal Loan EMI →
Rate: 7.5% – 14%
Tenure: Up to 15 yr
Max: ₹1 Cr
Calculate Education Loan EMI →
Rate: 10% – 22%
Tenure: Up to 15 yr
Max: ₹5 Cr
Calculate Business Loan EMI →
EMI stands for Equated Monthly Installment — a fixed amount you pay to your bank every month until the loan is fully repaid. Each EMI covers both principal and interest.
In early months, a larger share goes toward interest. As principal reduces, more goes toward principal. This shift is visible in the amortization schedule above.
EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]
P = Principal loan amount
r = Monthly interest rate = Annual rate ÷ 12 ÷ 100
n = Loan tenure in months
Example
₹30 lakh home loan at 8.5% for 20 years → EMI = ₹26,035/month. Total interest = ₹32.48 lakh.
Step 1 — Enter your loan amount using the slider or type it directly.
Step 2 — Set the interest rate offered by your bank.
Step 3 — Choose your preferred loan tenure in months.
Step 4 — Instantly see your monthly EMI, total interest and full breakdown.
Step 5 — View the amortization schedule for month-by-month details.
Prepay early
The best time to prepay is in the first few years — that is when your interest component is highest.
Use your annual bonus
A one-time lump sum from your bonus can reduce your tenure by months or even years.
Round up your EMI
If your EMI is ₹26,035, pay ₹27,000 instead. The small extra adds up significantly over years.
Choose reduce tenure over reduce EMI
When prepaying, banks offer both options. Reducing tenure always saves more interest.
Check for prepayment charges
RBI has mandated zero prepayment penalty on floating-rate home loans. Fixed-rate loans may carry 2-5% charges.
→Section 80C: Up to ₹1.5 lakh/year on principal repaid
→Section 24(b): Up to ₹2 lakh/year on interest paid
→Section 80EEA: Additional ₹1.5L for first-time buyers
→Section 80E: Full interest deductible — no upper limit
→Available for up to 8 years from repayment start
→Applicable for self, spouse or children's education
→No direct tax benefits for salaried individuals
→Business use: interest can be claimed as business expense
Tax benefits apply under old tax regime only. Consult a CA for personalized advice.
Indicative rates — confirm with bank before applying
| Bank | Rate (p.a.) | EMI per ₹1L / 20 yr |
|---|---|---|
| SBI | 8.50% | ₹868 |
| HDFC Bank | 8.75% | ₹885 |
| ICICI Bank | 8.75% | ₹885 |
| Bank of Baroda | 8.40% | ₹861 |
| PNB | 8.45% | ₹864 |
| Kotak Mahindra | 8.75% | ₹885 |
| Axis Bank | 8.75% | ₹885 |
| LIC HFL | 8.50% | ₹868 |
The EMI is based on the standard reducing balance formula used by all banks. Actual amount may differ slightly due to rounding, processing fees or different compounding methods.
Missing an EMI results in a penalty fee (typically 1-2% of EMI), a negative CIBIL score impact, and additional interest on the overdue amount.
Yes, if you have a floating rate loan. Your EMI can change when the bank adjusts the rate based on RBI repo rate movements.
A shorter tenure means higher EMIs but significantly lower total interest. Use the calculator above to compare both scenarios.
Financial experts recommend total EMIs should not exceed 40-50% of your monthly take-home salary.
Partial prepayments generally do not affect your score negatively. Timely full repayment is the best way to build a strong credit score.
🎯
Instant Results
Get EMI, interest & total in real-time as you move sliders.
📋
Amortization Schedule
Full month-by-month breakdown of every payment.
🔒
100% Private
No login, no signup. All calculations in your browser.
📱
Mobile Friendly
Works perfectly on any device — phone, tablet or desktop.
Learn more about loans and smart borrowing