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EMI Calculator

Calculate Home Loan, Personal Loan, Car Loan and Business Loan EMIs instantly. Live results, amortization schedule and smart insights — no page refresh.

EMI Calculator

Enter your loan details. See results instantly.

Everything below updates live as you type or drag — monthly EMI, interest payable, charts and the full month-by-month amortization schedule.

Loan Details
Loan Amount
₹10,000₹10 Crore
Interest Rate (p.a.)
0%25%
Loan Tenure
1 Month40 Years
Fee %
Amount
Extra / Month
Starts After Month
Monthly EMI
₹0
for the full tenure
0%
Principal
Principal
Interest
Principal Amount
₹0
Total Interest
₹0
Total Payment
₹0
Interest %
0%
Principal %
0%
Processing Fee
₹0
Prepayment saves   in interest and shortens tenure by  
Outstanding Balance Over Time
Hover over the chart to see the balance for any month.
Amortization Schedule
Year-wise breakup — click a year to see the month-by-month split
Year Principal (A) Interest (B) Total Payment (A+B) Balance Loan Paid To Date
Page 1
Loan Types

Jump straight to the loan you are planning.

Each card loads typical starting values into the calculator above so you can adjust from a realistic baseline.

Compare Loans

Loan A vs Loan B. See the real difference.

Compare two loan offers side by side — different amounts, rates or tenures — and see exactly what each costs you.

Loan A
Monthly EMI
₹0
VS
Loan B
Monthly EMI
₹0
Difference in EMI
₹0
Difference in Interest
₹0
Difference in Total Payment
₹0
Smart Insights

What your numbers actually mean.

Automatically calculated from the loan details you entered above in the main calculator.

Enter your loan details above to see how a shorter tenure affects your total interest.
Enter your loan details above to see how increasing your EMI affects your tenure.
Enter your loan details above to see your interest-to-principal ratio.
EMI Formula

The maths behind every EMI calculator.

This calculator uses the same reducing-balance formula banks and NBFCs use to compute EMI.

EMI = P × r × (1+r)n ÷ [(1+r)n − 1]
P
Principal — the loan amount borrowed (or financed, after subtracting any down payment).
r
Monthly interest rate — the annual interest rate divided by 12, then divided by 100.
n
Tenure in months — the total number of monthly instalments over the loan's life.
Common Questions

Everything you need to know about EMIs.

EMI is calculated using the reducing balance formula: EMI = [P × r × (1+r)^n] / [(1+r)^n − 1], where P is the principal loan amount, r is the monthly interest rate and n is the tenure in months. This calculator applies the same formula banks and NBFCs use.
The standard EMI formula is EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). P is the loan principal, r is the monthly interest rate (annual rate divided by 12 and by 100), and n is the total number of monthly instalments.
For a fixed-rate loan, the EMI stays constant for the entire tenure. For a floating-rate loan, the EMI or the remaining tenure can change whenever the lender revises the benchmark interest rate.
Under reducing balance, interest is charged only on the outstanding principal for that month, not on the original loan amount. As you repay principal, the interest portion of each EMI falls and the principal portion rises.
Most lenders allow prepayment. A lump sum or recurring extra payment is normally adjusted against the outstanding principal, and most borrowers choose to keep the EMI the same and reduce the tenure, which cuts the total interest paid. Try the Prepayment field in the calculator above to see the exact savings.
For home loans, the principal component qualifies for deduction under Section 80C and the interest component under Section 24(b), subject to prevailing limits. Car, personal and education loans have different rules — consult a tax advisor for your specific case.
A flat rate charges interest on the full original principal for the entire tenure, making the effective cost much higher. Reducing balance charges interest only on the remaining principal, which is why almost all EMI-based loans in India use reducing balance.
Yes. A higher down payment lowers the amount financed, which directly reduces both your EMI and the total interest paid over the loan tenure. Use the Down Payment field above to see the effect.
Missing an EMI usually attracts a late payment penalty and additional interest, and can affect your credit score. Repeated defaults may lead to the loan being classified as non-performing and recovery action by the lender.
Yes — use the dropdown next to the Loan Tenure field to switch between Months and Years. The slider and amortization schedule update instantly either way.
A longer tenure reduces the monthly EMI but increases the total interest paid over the life of the loan, since interest keeps accruing on the outstanding balance for a longer period. A shorter tenure raises the EMI but saves substantially on interest — see the Smart Insights section above for your exact numbers.
A processing fee is a one-time charge levied by the lender to process the loan application, usually a percentage of the loan amount. It is paid upfront or deducted from the disbursed amount and does not change the monthly EMI calculation.
Yes. Select the loan type from the dropdown to load typical starting values, then adjust the amount, interest rate and tenure to match your actual loan offer for any of these five loan categories.
This calculator uses the exact reducing-balance formula used by banks and NBFCs. Actual EMI may vary slightly depending on the lender's exact disbursement date, rounding method and any additional charges.
An amortization schedule breaks down every EMI into its principal and interest components, month by month, until the loan is fully repaid. It helps you see how much interest you are really paying and how prepayments shorten the loan — scroll up to see yours in full.

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