EMI Calculator - Home Car Loan EMI Calculator India

Loan Amount (₹)

Interest Rate (% p.a.)

Loan Tenure

The EMI Calculator helps you calculate your monthly loan installment (EMI), total interest payable and complete amortisation schedule for any loan — home loan, car loan or personal loan.

EMI Formula

EMI = P × r × (1+r)^n / [(1+r)^n - 1]
Where:
P = Principal loan amount
r = Monthly interest rate (Annual rate / 12 / 100)
n = Loan tenure in months

Example — Home Loan

Loan Amount = ₹50,00,000
Interest Rate = 8.5% per year
Tenure = 20 years (240 months)
Monthly EMI = ₹43,391
Total Payment = ₹1,04,13,840
Total Interest = ₹54,13,840

Tips to Reduce EMI Burden

💡 Larger down payment = smaller EMI
💡 Longer tenure = smaller EMI but more interest
💡 Prepay when possible to save interest
💡 Compare interest rates across banks before applying
💡 Maintain good CIBIL score for lower interest rates

Types of Loans

Loan Type	Typical Rate	Max Tenure
Home Loan	8-10%	30 years
Car Loan	9-12%	7 years
Personal Loan	12-24%	5 years
Education Loan	8-14%	15 years

Frequently Asked Questions

How is EMI calculated?

EMI is calculated from your loan amount, interest rate, and tenure using a standard formula that spreads repayment into equal monthly instalments covering both principal and interest.

Does a longer tenure reduce my EMI?

Yes, a longer tenure lowers the monthly EMI, but you end up paying more total interest over the life of the loan. A shorter tenure means higher EMIs but less interest overall.

What is the difference between principal and interest in an EMI?

Each EMI is split between repaying the borrowed amount (principal) and the cost of borrowing (interest). Early EMIs are mostly interest, while later ones repay more principal.