EMI Calculator
Calculate your Equated Monthly Installment (EMI) for home loans, car loans, and personal loans. Enter loan amount, interest rate, and tenure to get monthly EMI, total interest, and a full year-by-year amortization schedule.
Typical Loan EMI Reference
| Loan Amount | Rate | Tenure | Monthly EMI |
|---|---|---|---|
| 500,000 | 8.5% | 5 yr | 10,258 |
| 1,000,000 | 8.5% | 10 yr | 12,399 |
| 1,500,000 | 8.5% | 15 yr | 14,771 |
| 2,000,000 | 8.5% | 20 yr | 17,356 |
| 3,000,000 | 9% | 20 yr | 26,992 |
| 5,000,000 | 9% | 25 yr | 41,960 |
| 10,000,000 | 8.75% | 30 yr | 78,670 |
| 15,000,000 | 8.75% | 30 yr | 118,005 |
This EMI calculator is for informational purposes only. Actual EMI may vary due to processing fees, insurance, prepayment charges, or variable interest rates. Consult your bank or financial advisor before taking a loan.
Frequently Asked Questions
EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a loan over its tenure. It covers both principal and interest. Formula: EMI = P × r × (1+r)^n ÷ [(1+r)^n − 1], where P = principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), and n = tenure in months. For example, a ₹20 lakh home loan at 8.5% for 20 years gives an EMI of ₹17,356 per month.
At an 8.5% annual interest rate for 20 years, the EMI for a ₹50 lakh (₹5,000,000) home loan is approximately ₹43,391 per month. Total payment over 20 years is about ₹1.04 crore, of which ₹54 lakh is interest. A longer tenure of 30 years lowers the EMI to ₹38,446 but increases total interest to ₹88.4 lakh. Compare offers from HDFC, SBI, ICICI, and LIC Housing before choosing.
Yes — paying a larger down payment directly reduces the loan principal, which lowers your EMI. For example, on a ₹60 lakh property: with 10% down (₹6L loan = ₹54L) at 8.5% for 20 years, EMI = ₹46,901. With 20% down (₹48L loan), EMI = ₹41,690 — a saving of ₹5,211 per month or ₹12.5 lakh in total interest. Aim for at least 20% down payment to keep your loan-to-value ratio healthy.
A fixed-rate loan locks in the interest rate for the entire tenure — your EMI stays constant regardless of RBI repo rate changes. A floating-rate loan (also called adjustable or variable rate) tracks the lender's benchmark (MCLR or RLLR) and may change every 6–12 months. Floating rates are usually 0.5–1% lower than fixed rates at the time of taking the loan but carry interest-rate risk. Most Indian home loans are floating rate; personal and car loans are often fixed.