EMI Calculator
Find your monthly loan EMI in seconds
Calculate Equated Monthly Installment for home, car, personal, or business loans with full interest breakdown.
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What is an EMI Calculator?
An Equated Monthly Installment (EMI) is the fixed payment a borrower makes to a lender every month until the loan is paid off. Each EMI has two parts — interest on the outstanding principal and a portion of the principal itself. In the early years, most of the EMI goes toward interest; in later years, toward principal.
The formula is EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate, and n is the tenure in months. Our calculator applies this standard formula used by every Indian bank and NBFC.
Use it before you sign a loan sanction letter. A 0.5% difference in interest rate on a ₹50 lakh home loan over 20 years is worth more than ₹4 lakh — know the number before the bank tells you.
Why use this EMI Calculator
Built for Indians, by Indians. Every number, every formula, every slab — tuned to FY 2026-27 reality.
Real-time EMI
Adjust loan amount, rate, and tenure — EMI recalculates instantly.
Principal vs Interest
Visual split shows exactly how much of your money becomes interest.
Works for all loans
Home, car, personal, education, business — same maths, same calculator.
No signup
All calculations run locally in your browser. Nothing is sent or stored.
Using the EMI Calculator in 4 steps
No onboarding, no signup. Answer three fields and the numbers update live.
Enter loan amount
Use the net disbursal, not the sanction value. Don’t forget to subtract the processing fee.
Enter interest rate
Use the APR (annualised rate) offered in writing. Floating rates change — model worst-case too.
Pick tenure
Shorter tenure = higher EMI but drastically lower total interest. Long tenure flips that.
Compare totals
Look at total interest paid, not just the EMI. That’s the number banks don’t advertise.
Tips to get the most out of it
Keep total EMIs (all loans combined) under 40% of your take-home pay. Banks allow 50–60% but you won’t save a rupee.
On a home loan, pre-paying even one extra EMI per year cuts tenure by 3–4 years and saves lakhs in interest.
Always compare the reducing-balance rate, not the flat rate. A 12% flat rate ≈ 22% reducing — twice as expensive.
Check the fine print for prepayment penalties. RBI disallows them on floating-rate home loans but fixed-rate and personal loans can sting.
A shorter tenure at a slightly higher EMI almost always beats a longer tenure. Do the maths before trusting a relationship manager.
Real-world scenarios
How Indians actually use this calculator — concrete inputs, concrete outcomes.
₹50L home loan, 20 years, 8.5%
Monthly EMI ≈ ₹43,391. Total interest over the tenure: ~₹54.13 lakh. You repay more in interest than you borrowed.
₹10L car loan, 5 years, 9.5%
EMI ≈ ₹20,995. Total interest: ~₹2.6 lakh. A short tenure keeps this loan honest.
₹5L personal loan, 3 years, 14%
EMI ≈ ₹17,089. Total interest: ~₹1.15 lakh. Unsecured loans are always the most expensive — use sparingly.
Frequently Asked Questions
Still have a question? Our team replies within a business day.
EMI = P × r × (1+r)^n / ((1+r)^n − 1). P = principal, r = monthly rate (annual rate ÷ 12 ÷ 100), n = tenure in months. This is the reducing-balance method every RBI-regulated lender uses.
Flat interest is charged on the full original principal for the entire tenure — you keep paying interest on money you’ve already repaid. Reducing-balance charges interest only on the outstanding principal. A 12% flat rate is roughly equivalent to 22% reducing. Always insist on reducing balance.
On floating-rate loans (most home loans), the bank usually keeps the EMI fixed and adjusts tenure. Some banks increase the EMI instead. On fixed-rate loans, nothing changes until the loan is reset or refinanced.
If your post-tax loan cost is higher than what you’d earn on investments of similar risk, prepay. For most borrowers, a home loan at 8.5% beats a fixed deposit at 7% — prepaying wins. Equity investments long-term may beat it.
Home loans: principal up to ₹1.5L under 80C, interest up to ₹2L under 24(b) (old regime). Education loans: full interest deductible under 80E for 8 years. Personal and car loans offer no deduction unless the car is used for business.
30–40% of net monthly income is the healthy zone. Above 50% and one salary delay can snowball into a default. Banks lend up to 60% — that’s their risk appetite, not yours.
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