Logo

Loan EMI Calculator

Calculate your monthly EMI (Equated Monthly Installment) for home loans, car loans, personal loans, and other credit products. Our free online calculator provides instant calculations, detailed amortization schedules, and total interest breakdowns.

Calculator

Min: ₹10,000 | Max: ₹1,00,00,000

Min: 0.1% | Max: 25%

Min: 1 year | Max: 30 years

Results

Monthly EMI

₹0

Total Amount Payable

₹0

Total Interest Payable

₹0

Number of Payments

0

Monthly Rate

0.00%

How to Use the Calculator

  1. Enter Loan Amount: Input the principal loan amount in rupees (₹). This is the total amount you're borrowing.
  2. Enter Interest Rate (p.a.): Input the annual interest rate as a percentage. For example, 7.5 for 7.5% per annum. Check your bank's current rates.
  3. Enter Loan Tenure: Specify the repayment period in months. For example, 240 months for a 20-year home loan or 60 months for a 5-year car loan.
  4. View Results: The calculator instantly displays your monthly EMI, total amount payable, and total interest charged.
  5. Analyze Amortization: Download or review the detailed month-by-month breakdown showing principal, interest, and remaining balance.

Example Calculation

Scenario: Home loan in Chennai

  • Loan Amount: ₹25,00,000 (25 lakhs)
  • Interest Rate: 7.5% per annum
  • Tenure: 240 months (20 years)
  • Monthly EMI: ₹18,461
  • Total Amount Payable: ₹44,30,640
  • Total Interest: ₹19,30,640

Supported Loan Types

  • Home Loans: Typical tenure 15-30 years, rates 6.5%-9% (varies by bank and credit profile)
  • Car Loans: Typical tenure 3-7 years, rates 7%-10%
  • Personal Loans: Typical tenure 2-5 years, rates 10%-18%
  • Education Loans: Typical tenure 5-15 years, rates 7%-9%
  • Other Credit Products: Any loan with a fixed interest rate and defined tenure

Key Features

  • ✓ Instant Calculation: Results update in real-time as you adjust values
  • ✓ Detailed Amortization Schedule: View month-by-month principal, interest, and remaining balance
  • ✓ Total Interest Analysis: Understand total interest cost over the loan period
  • ✓ 100% Free & No Registration: No sign-up, no ads, completely private
  • ✓ Accurate Calculations: Uses standard EMI formula certified by Indian financial institutions

Important Notes & Assumptions

  • Interest Calculation: This calculator uses the Reducing Balance Method, which is standard across Indian banks.
  • Current Interest Rates (January 2026): Home loans: 6.5%-9%, Car loans: 7%-10%, Personal loans: 10%-18%. Rates vary by bank (HDFC, ICICI, Axis, SBI, Kotak, IndusInd) and your credit score.
  • No Processing Fees: This calculator does not include processing fees (typically 0.5%-2% of loan amount). Add separately if needed.
  • No Taxes or Insurance: Property tax, home insurance, or other mandatory charges are not included.
  • Fixed Interest Rate: This calculator assumes a fixed interest rate throughout the tenure. Floating rate loans will have varying EMIs.
  • No Prepayment Calculation: The schedule assumes no early repayment. Actual EMI may reduce if you make part-payments.
  • Loan Approval Not Guaranteed: This is a calculation tool. Actual loan approval depends on your credit score, income, and eligibility criteria set by your bank.

Tips for Better Loan Planning

  • Check Your Credit Score: A higher credit score (750+) helps you get lower interest rates from Chennai and pan-India banks.
  • Compare Rates: Interest rates vary significantly. Compare offers from multiple banks (HDFC, ICICI, Axis, SBI, Kotak) before applying.
  • Shorter Tenure = Less Interest: A 15-year home loan has lower total interest than a 20-year loan, but higher monthly EMI.
  • Balance Your Budget: Ensure your monthly EMI doesn't exceed 40-50% of your monthly income for sustainable finances.
  • Factor in Other Costs: Add processing fees, insurance, property registration, and maintenance costs to your total loan planning.