EMI Calculator for Home, Car & Personal Loans
Work out the monthly EMI, total interest and full amortisation schedule of any loan. Add a part payment to see the interest and months you save, and export the schedule to Excel.
Work out the monthly EMI, total interest and full amortisation schedule of any loan. Add a part payment to see the interest and months you save, and export the schedule to Excel.
Enter the loan amount, the interest rate and the tenure in years or months to get the EMI, the total interest and the total amount payable, with a chart of principal against interest. The amortisation schedule shows each year or each month, with the principal and interest inside every EMI and the balance left, and you can save it as a CSV for Excel. Add an extra amount every month or a one-time part payment to see how many months sooner the loan ends and how much interest you save. Quick settings for home, car, personal and education loans fill in typical amounts and rates.
For comparing loan offers, planning a home, car or personal loan, and deciding whether to prepay.
Also searched as: emi calculator, loan emi calculator, loan amortization schedule.
An EMI (equated monthly instalment) is the same amount every month, but what it pays for changes. Early EMIs are mostly interest; later ones are mostly principal. That is why a part payment in the early years saves so much.
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly rate (the annual rate ÷ 12 ÷ 100) and n is the number of months. Banks call this the reducing-balance method: each month's interest is charged only on the balance still owed.
A part payment is taken off the principal at once. If the EMI stays the same, the loan simply ends earlier. On the ₹30 lakh loan above, paying ₹5 lakh after the twelfth EMI ends the loan 73 EMIs early and saves about ₹14.1 lakh of interest. RBI rules do not let banks charge a prepayment penalty on floating-rate loans to individuals.
In the old regime you can claim up to ₹2 lakh of interest on a self-occupied house and up to ₹1.5 lakh of principal under 80C. The new regime does not allow these for a self-occupied house. The income tax calculator shows which regime works out cheaper with your loan.
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), जहाँ P लोन की रकम, r मासिक ब्याज दर (सालाना दर ÷ 12 ÷ 100) और n महीनों की संख्या है।
₹30 लाख के होम लोन पर 8.5% ब्याज और 20 साल की अवधि पर EMI ₹26,035 होती है।
बीच में कुछ रकम जमा (प्रीपेमेंट) करने से मूलधन घटता है और लोन जल्दी खत्म होता है, जिससे ब्याज की बड़ी बचत होती है।
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the loan amount, r is the annual rate divided by 12 and by 100, and n is the tenure in months.
At 8.5% for 20 years it is ₹26,035 a month, and the total interest over the loan is about ₹32.5 lakh. At 15 years the EMI rises to about ₹29,540 but the interest falls sharply.
At 12% for 3 years it is ₹16,607 a month, with ₹97,858 of interest in all.
Reducing the tenure saves more interest, because the balance is cleared sooner. This calculator keeps the EMI fixed and shows the shorter tenure.
Banks may round the rate or the EMI, and the first EMI can include broken-period interest from the day the loan is paid out. The difference is usually a few rupees.
No. EMI Calculator for Home, Car & Personal Loans runs as JavaScript inside your own browser tab. Nothing you type is transmitted, and it keeps working without internet once the page has loaded.