Math & Calculator
EMI Calculator
Calculate monthly EMI for home, car, or personal loans instantly
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹10,258 | ₹6,717 | ₹3,542 | ₹4,93,283 |
| 2 | ₹10,258 | ₹6,764 | ₹3,494 | ₹4,86,519 |
| 3 | ₹10,258 | ₹6,812 | ₹3,446 | ₹4,79,707 |
| 4 | ₹10,258 | ₹6,860 | ₹3,398 | ₹4,72,847 |
| 5 | ₹10,258 | ₹6,909 | ₹3,349 | ₹4,65,938 |
| 6 | ₹10,258 | ₹6,958 | ₹3,300 | ₹4,58,980 |
| 7 | ₹10,258 | ₹7,007 | ₹3,251 | ₹4,51,973 |
| 8 | ₹10,258 | ₹7,057 | ₹3,201 | ₹4,44,916 |
| 9 | ₹10,258 | ₹7,107 | ₹3,151 | ₹4,37,809 |
| 10 | ₹10,258 | ₹7,157 | ₹3,101 | ₹4,30,652 |
| 11 | ₹10,258 | ₹7,208 | ₹3,050 | ₹4,23,444 |
| 12 | ₹10,258 | ₹7,259 | ₹2,999 | ₹4,16,185 |
How to Use
Enter Numbers
Set Parameters
Calculate
View Results
Learn More
Working Out Your Monthly Instalment Before You Visit the Bank
Enter three things: the loan amount in rupees, the annual interest rate your lender quoted, and how long you want to repay. You can type the tenure in months or switch to years if the bank quoted it that way. The moment you change any field the EMI updates, along with the total amount you will repay and how much of that is pure interest. Seeing those three numbers together is the point, because a loan advertised as eight and a half percent rarely feels expensive until you notice the interest column.
Reading the Interest Column Before You Sign Anything
The EMI is the number the salesperson leads with, but total interest is the number that decides whether a loan is sensible. On a fifty lakh home loan at eight and a half percent over twenty years, the EMI looks manageable while the interest crosses fifty lakh on its own, so you repay close to double. Try the same loan over fifteen years. The EMI rises noticeably but the interest falls by a large margin. Run both before you decide, because the tenure you pick matters far more than shaving a quarter percent off the rate.
Home Loan, Car Loan and Personal Loan Rates in India
Rates vary sharply by loan type, and using the right one changes the answer completely. Home loans are the cheapest because the property secures them, typically in the mid eight to nine percent range. Car loans sit a little higher. Personal loans are unsecured and usually run from eleven percent well into the high teens depending on your credit score and employer. Gold loans fall in between. Enter the rate actually offered in your sanction letter rather than the headline rate in an advertisement, since the advertised figure is usually reserved for the strongest applicants.
How Prepayment Changes the Maths on a Floating Rate Loan
Most Indian home loans are floating rate, and the Reserve Bank does not permit prepayment penalties on those for individual borrowers. That makes part prepayment one of the few genuinely free wins available. Because interest accrues on the outstanding balance, a lump sum paid early removes many months of future interest, not just the amount you paid. Model this by reducing the principal in the calculator and keeping the tenure the same, then compare the interest figure. Even one extra EMI a year can shorten a twenty year loan by several years.
Checking Whether the EMI Actually Fits Your Salary
Lenders in India generally want all your EMIs together to stay under forty to fifty percent of net monthly income, and they count existing card dues and other loans in that total. Work out the EMI here, then add every instalment you are already paying and compare it against your take home pay, not your CTC. If the combined figure crosses half your salary, the application is likely to be reduced or rejected, and more importantly the loan will be uncomfortable to live with. Lowering the loan amount or extending the tenure both help, but only one of them is cheap.
Fixed Versus Floating Rate and Which One This Assumes
The calculation here assumes your rate stays the same for the whole tenure, which is exactly true for a fixed rate loan and only approximately true for a floating one. Most Indian home loans are floating and now track an external benchmark, so when the Reserve Bank moves rates your EMI or your tenure moves with it. Banks usually keep the EMI steady and quietly extend the tenure instead, which hides the cost. If your rate changes, run the numbers again with the new rate and your remaining balance to see what the loan now actually costs.
Frequently Asked Questions
Yes. It uses the standard reducing balance formula that banks and NBFCs in India apply, so the monthly figure matches what HDFC, SBI, ICICI or a car dealer quotes for the same principal, rate and tenure. Small differences of a few rupees come from rounding or the exact disbursal date, not the formula.
No. The calculator shows only the loan EMI. Banks usually add a one time processing fee of half to one percent of the loan, and home loans often bundle insurance. Ask for the full amortisation sheet before signing, because those charges change your effective cost even though the EMI stays the same.
Interest accrues on the outstanding balance every month, so stretching a loan over more months means more months of interest. A twenty year home loan can cost nearly double the principal in interest, while the same loan over ten years costs far less in total even though each monthly payment is higher.
Yes. Any loan with a fixed interest rate and equal monthly instalments uses the same maths, so personal loans, gold loans, two wheeler loans and consumer durable loans all work. Just enter the annual rate your lender quoted. Credit card EMI conversions often carry hidden charges, so treat those quotes with caution.
No. The entire calculation runs in your browser using JavaScript, so the amounts you type never leave your device and nothing is stored or logged. You can check your numbers on a shared or office computer without leaving a trace, and the tool keeps working if your connection drops.