🏠 EMI Calculator
Calculate monthly EMI for home loan, car loan & personal loan instantly. Get total interest, amortization schedule & EMI per lakh — free, no login.
💡 Loan Insights
Hidden truths about your loan that banks rarely highlight.
Blue grows, orange shrinks — each year more of your EMI reduces the loan.
Balance drops slowly at first — most early EMIs pay interest, not principal.
💰 Prepayment Savings Calculator
Pay a little extra each month and see how much interest you save and how early you close the loan.
☝️ Drag the slider above to see how extra payments slash your interest and tenure.
📋 Yearly Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹40K | ₹1.68 L | ₹19.60 L |
| 2 | ₹43K | ₹1.65 L | ₹19.17 L |
| 3 | ₹47K | ₹1.61 L | ₹18.70 L |
| 4 | ₹51K | ₹1.57 L | ₹18.18 L |
| 5 | ₹56K | ₹1.52 L | ₹17.63 L |
| 6 | ₹61K | ₹1.47 L | ₹17.02 L |
| 7 | ₹66K | ₹1.42 L | ₹16.36 L |
| 8 | ₹72K | ₹1.36 L | ₹15.64 L |
| 9 | ₹78K | ₹1.30 L | ₹14.85 L |
| 10 | ₹85K | ₹1.23 L | ₹14.00 L |
| 11 | ₹93K | ₹1.15 L | ₹13.07 L |
| 12 | ₹1.01 L | ₹1.07 L | ₹12.06 L |
| 13 | ₹1.10 L | ₹98K | ₹10.96 L |
| 14 | ₹1.20 L | ₹89K | ₹9.76 L |
| 15 | ₹1.30 L | ₹78K | ₹8.46 L |
| 16 | ₹1.42 L | ₹66K | ₹7.04 L |
| 17 | ₹1.54 L | ₹54K | ₹5.50 L |
| 18 | ₹1.68 L | ₹40K | ₹3.82 L |
| 19 | ₹1.83 L | ₹25K | ₹1.99 L |
| 20 | ₹1.99 L | ₹9K | ₹0 |
Everything You Need to Analyse Any Loan
From home loans to personal loans — presets, sliders, donut charts, and year-wise amortization in one free tool.
Home Loan EMI
Calculate housing loan EMI up to ₹1 Cr with tenures up to 30 years and live donut chart.
Car Loan EMI
Instant car loan EMI with typical 9% rate preset and 5-year tenure. Compare different rates easily.
Personal Loan EMI
Quick unsecured loan EMI at higher interest rates with shorter 1–5 year tenures.
Education Loan EMI
Plan education loan repayments for study in India or abroad with competitive interest rates.
Amortization Schedule
Year-by-year breakdown showing principal paid, interest paid, and outstanding balance for every year.
Visual Pie Chart
Donut chart showing the split between principal and total interest — see your loan cost at a glance.
EMI per ₹1 Lakh
Reference metric to quickly compare EMI across different loan amounts and lenders.
Instant Calculation
Live results as you drag sliders — no submit button, no page reload needed.
Free, No Login
Completely free EMI calculator. No account, no ads behind login, works immediately.
How to Calculate Your EMI
Four simple steps to get your exact EMI, total interest cost, and full repayment schedule.
Choose Loan Type
Tap Home, Car, Personal, or Education to load typical values — or manually set your own.
Set Loan Amount
Drag the slider or type the exact loan amount from ₹50,000 to ₹1 crore.
Enter Interest Rate
Enter the annual interest rate your bank is offering (e.g. 8.5% for home loans in 2025).
Review Results
See your monthly EMI, total interest, donut chart, and the full amortization schedule instantly.
Who Uses This EMI Calculator?
Home buyers, car buyers, students, and financial planners — everyone benefits from knowing their exact loan cost upfront.
Home Buyers
Compare EMI for different loan amounts before deciding how much home loan to take.
Car Buyers
Know your exact monthly car EMI before visiting the dealership or applying for finance.
Bank Comparison
Plug in SBI, HDFC, ICICI, Axis rates to see which bank gives the lowest EMI.
Budget Planning
Plan your monthly budget knowing the exact EMI commitment before signing a loan.
Prepayment Planning
Understand how a lump-sum prepayment reduces your total interest burden and tenure.
Students & Parents
Calculate post-graduation education loan repayment to plan careers and salaries accordingly.
Frequently Asked Questions
Common questions about EMI calculation, loan repayment, amortization, and how this calculator works.
What is EMI?
EMI (Equated Monthly Instalment) is a fixed monthly payment made to repay a loan over a specified period. Each EMI covers both the principal and the interest, so you pay the same amount every month until the loan is fully repaid.
What is the formula to calculate EMI?
EMI = P × r × (1 + r)^n / [(1 + r)^n − 1], where P = Principal loan amount, r = Monthly interest rate (Annual rate ÷ 12 ÷ 100), n = Loan tenure in months. Our calculator applies this formula instantly as you adjust the sliders.
What is the EMI for a ₹50 lakh home loan at 8.5% for 20 years?
For a ₹50 lakh home loan at 8.5% annual interest for 20 years (240 months), the monthly EMI is approximately ₹43,391. Total interest paid over 20 years is about ₹54.14 lakh, making the total payment approximately ₹1,04,14,000.
What is EMI per lakh?
EMI per lakh is the monthly EMI for every ₹1 lakh of loan at a given interest rate and tenure. For example, at 8.5% for 20 years, EMI per lakh ≈ ₹868. To find your total EMI, multiply: ₹868 × 50 = ₹43,400 for a ₹50 lakh loan.
How can I reduce my EMI?
You can reduce your EMI by: (1) Increasing the loan tenure — longer tenure means smaller monthly payments but more total interest; (2) Making a larger down payment to reduce the principal; (3) Negotiating a lower interest rate with your bank; (4) Opting for a balance transfer to a lender offering a lower rate.
What is an amortization schedule?
An amortization schedule is a table showing the breakdown of each loan payment — how much goes toward principal and how much toward interest — for every period until the loan is fully paid off. In early periods, most of the EMI goes to interest; in later periods, more goes to the principal.
What is the EMI for a ₹7 lakh car loan at 9% for 5 years?
For a ₹7 lakh car loan at 9% annual interest for 5 years (60 months), the monthly EMI is approximately ₹14,530. Total interest paid is about ₹1.72 lakh, making the total payment approximately ₹8.72 lakh.
What is the EMI for a ₹3 lakh personal loan at 14% for 3 years?
For a ₹3 lakh personal loan at 14% annual interest for 3 years (36 months), the monthly EMI is approximately ₹10,252. Total interest paid is about ₹69,088, making the total payment ₹3,69,088.
Should I choose a shorter or longer loan tenure?
A shorter tenure means higher EMI but less total interest paid — good if you can afford higher monthly payments. A longer tenure means lower EMI but significantly more interest over time. Use this EMI calculator to compare different tenures and find the right balance for your budget.
Can I make prepayments on my loan?
Yes, most banks allow prepayments (paying more than the EMI). Prepayments reduce the principal faster, which lowers total interest and can shorten the loan tenure. Some banks charge a prepayment penalty — usually 2–4% of the outstanding amount — so check your loan agreement.
What happens if I miss an EMI?
Missing an EMI can result in late payment fees (typically 1–2% per month on the overdue amount), a negative impact on your CIBIL credit score, and increased interest on the missed payment. Repeated missed EMIs can lead to loan default and legal action by the lender.
Is this EMI calculator free and accurate?
Yes, completely free — no login or sign-up required. It uses the standard EMI formula recognised by all Indian banks including SBI, HDFC, ICICI, Axis Bank, and PNB. Results match bank calculations to the rupee for standard reducing-balance loans.