Loan EMI Calculator
Loan Details
EMI Summary
Principal vs Interest
Repayment breakdownCalculate EMI for Different Types of Loans
Use this calculator to estimate monthly EMI, total interest, and total repayment for different types of loans.
Home Loan EMI Calculator
Estimate your monthly EMI for a home loan by entering the loan amount, interest rate, and repayment tenure. Compare different tenures to understand the impact on your total interest.
Car Loan EMI Calculator
Calculate the estimated monthly EMI for a new or used car. Adjust the loan amount, interest rate, and tenure to compare different repayment options.
Personal Loan EMI Calculator
Estimate your personal loan EMI and understand how the interest rate and repayment period affect your monthly payment and total interest.
How Is Loan EMI Calculated?
Understand the formula used to calculate your monthly EMI.
Loan EMI, or Equated Monthly Instalment, is the fixed amount generally paid by a borrower every month towards a loan. Each EMI consists of a portion of the principal amount and the interest charged by the lender.
Where:
Example Loan EMI Calculation
Suppose you borrow ₹10,00,000 at an annual interest rate of 8.5% for 5 years. The loan has 60 monthly instalments.
| Loan Amount | ₹10,00,000 |
|---|---|
| Interest Rate | 8.5% p.a. |
| Tenure | 5 Years |
| Number of EMIs | 60 |
| Approx. Monthly EMI | ₹20,516 |
| Approx. Total Interest | ₹2,30,960 |
| Approx. Total Payment | ₹12,30,960 |
What Affects Your Loan EMI?
Your monthly EMI mainly depends on three important factors.
EMI vs Total Interest
Choosing a longer loan tenure can make the monthly EMI more affordable, but the overall interest paid over the life of the loan may increase.
On the other hand, a shorter tenure generally means a higher monthly EMI but can reduce the total interest payable. Use the sliders above to compare different combinations before choosing a repayment period.
Don't compare loans based only on the monthly EMI. Also compare the total interest and total repayment amount over the complete loan tenure.
Things to Consider Before Taking a Loan
EMI is only one part of the overall cost of borrowing.
Compare Interest Rates
Compare interest rates from different lenders before selecting a loan.
Check Additional Charges
Consider processing fees, documentation charges and other applicable loan costs.
Choose the Right Tenure
Choose a repayment period that keeps your EMI manageable without unnecessarily increasing interest costs.
Check Your Budget
Make sure the expected monthly EMI fits comfortably within your regular budget.
Understand Prepayment
Check the lender's terms for part-prepayment and foreclosure before taking the loan.
Look at Total Repayment
Compare the total amount you will repay instead of looking only at the monthly EMI.
Frequently Asked Questions
Common questions about loan EMI calculations.