Calculate EMI on Home, Car and Personal Loans in India

EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay a loan. Each EMI includes part of the principal and part of the interest. Indian banks and NBFCs use the reducing-balance method, which means interest is charged on the outstanding loan balance each month.

Calculate home, car, and personal loan EMI with interest breakdown. In the formula, P is the loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments. A higher interest rate or longer tenure increases total interest paid. Use this calculator before applying for a home, car, or personal loan to compare tenures and plan your budget.

Borrowers, investors, and taxpayers planning loans, returns, or tax in India. Use this tool if you want a clear estimate before speaking with a bank, post office branch, or tax advisor.

• Loan: ₹10,00,000 | Rate: 8.5% | Tenure: 20 years → EMI ≈ ₹8,678
• Loan: ₹5,00,000 | Rate: 10% | Tenure: 5 years → EMI ≈ ₹10,624

Home loans in India typically run 10–30 years at rates around 8–9.5% p.a. Car loans usually span 3–7 years at 8.5–11% p.a. Personal loans are shorter (1–5 years) with higher rates. Enter your lender's offered rate for the most realistic EMI estimate.

1. 1
   Step 1

   Convert annual rate to monthly: r = annual rate ÷ 12 ÷ 100.

2. 2
   Step 2

   Convert tenure to months: n = years × 12.

3. 3
   Step 3

   Apply EMI = P × r × (1 + r)^n / ((1 + r)^n − 1).

4. ✓
   Final answer

   Total payment = EMI × n; total interest = total payment − P.

1. 1

   Locate the calculator form at the top of this page.

2. 2

   Enter your values using the units shown (₹, %, years, or as labelled).

3. 3

   Review the instant result, charts, or schedules in the output panel.

4. 4

   Adjust inputs to compare scenarios before making a financial decision.

• Free to use with instant browser-based results — no signup.

• Built for Indian rates, tax years, and units.

• Includes worked examples and FAQs on every page.

• Reducing-balance method with monthly compounding.

• Fixed interest rate for the entire tenure.

• No processing fees, insurance, or prepayment charges included.

• Floating-rate loans may change EMI when rates reset — this tool assumes a fixed rate.

• Some lenders use 365-day year conventions; results may differ by a few rupees.

• Zero or negative inputs are rejected; minimum tenure is one month.

• Compare EMIs at 15, 20, and 25 years before committing to a home loan tenure.

• A 0.25% lower rate on ₹40 lakh saves roughly ₹2–3 lakh over 20 years.

• Keep total EMIs under 40–50% of net monthly income for easier bank approval.

• Entering annual rate as a monthly figure (e.g. 8.5 instead of 0.708% monthly).

• Using property price instead of the actual loan amount after down payment.

• Ignoring insurance and processing fees when comparing lender offers.

• Home loan EMI planning in India — tenure, rate, and prepayment basicsPlan an affordable home loan EMI with FOIR rules, tenure trade-offs, and prepayment savings.Read guide →

• RBI guidelines on reducing-balance loan interest
• Standard amortization formula used by Indian banks and NBFCs
• RBI — (lending and deposit norms)rbi.org.in

Use this EMI calculator to estimate monthly outflow before applying for a home, car, or personal loan in India. Adjust tenure and rate to find a comfortable EMI, then confirm the final figure with your bank's sanction letter.