EMI Calculator
Find your monthly EMI, total interest and full repayment schedule for any loan – and see how prepayments shorten your loan and cut interest.
- Home, car and personal loans
- Prepayment savings
- Year-wise schedule
- CSV download
Prepayment Optional
Calculated in your browser. Nothing is saved.
Select a year to see each month.
EMI at other rates and tenures
How to use the EMI calculator
- Enter the loan detailsPick a loan type or type the loan amount, interest rate and tenure. Use the sliders to try different values.
- Read your EMISee the monthly EMI, total interest, total payment and when the loan ends, with a chart of principal versus interest.
- Plan prepaymentsAdd an extra monthly amount or a one-time lump sum to see the interest and time you save, then download the full schedule.
EMI calculator for home, car, personal and education loans
Use this calculator before you apply for a loan or compare offers from banks. Change the amount, rate and tenure to see how each one changes your EMI and the total interest, and use prepayments to plan how to close the loan faster.
How to lower the cost of your loan
- Choose the shortest tenure you can afford. A ₹25 lakh loan at 8.5% costs about ₹27.1 lakh in interest over 20 years but about ₹19.3 lakh over 15 years.
- Prepay early. Extra payments in the first few years cut the most interest, because the balance is highest then.
- Negotiate the rate. Even 0.5% less makes a big difference on long loans – see the rate table above.
- Check the fine print. Ask about processing fees and prepayment charges. Floating-rate home loans to individuals in India generally can’t carry prepayment penalties.
Typical interest rates and tenures
| Loan | Typical tenure | What affects the rate |
|---|---|---|
| Home loan | 15–30 years | Credit score, loan-to-value ratio, fixed or floating rate |
| Car loan | 3–7 years | New or used car, down payment, lender tie-ups |
| Personal loan | 1–5 years | Income, employer, credit score – usually unsecured, so higher |
| Education loan | 5–15 years | Course, institution, collateral and co-applicant |
Frequently asked questions
What is the EMI for a ₹25 lakh home loan?
At 8.5% a year for 20 years, the EMI on a ₹25 lakh home loan is about ₹21,696 a month, and the total interest is about ₹27.07 lakh. Enter your own rate and tenure above for an exact figure.
How is EMI calculated?
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly instalments. Each EMI first pays that month’s interest; the rest reduces the loan.
Why is most of my early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest part shrinks and more of each EMI goes to the principal – the year-wise chart shows this shift.
Is it better to reduce the EMI or the tenure after a prepayment?
Reducing the tenure saves more interest because you keep paying the same EMI on a smaller balance. Reducing the EMI lowers your monthly outgo but saves less. Switch between the two under Prepayment to compare.
How much EMI can I afford?
Many lenders prefer your total EMIs to stay below about 40–50% of your monthly income (called FOIR). Enter your take-home income to see where this loan puts you.
What is the financial-year view in the schedule?
In India the financial year runs from April to March. Grouping the schedule this way shows the principal and interest paid in each year, which helps when claiming home-loan tax deductions. You can switch to calendar years.
Does the calculator include processing fees or insurance?
No. It calculates the loan repayment only. Processing fees, insurance and other charges vary by lender – add them separately when comparing offers.
Is the EMI calculator free?
Yes, completely free with no sign-up. Everything is calculated in your browser and nothing is saved.
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