EMI calculator for home, car and personal loans
Enter the loan amount, interest rate and tenure to see your monthly EMI, the total interest you will pay, and how the balance falls year by year. Nothing you enter leaves your device.
Everything runs on your device. Nothing you add or type is sent to any server.
How to use it
- 01
Enter the loan amount in rupees. Commas are fine, like 10,00,000.
- 02
Enter the yearly interest rate from your loan offer and the tenure. Switch between Years and Months as you need.
- 03
Read your EMI, total interest and total payment. Scroll the table to see the principal and interest you repay each year and the balance left.
How EMI is calculated
This calculator uses the reducing-balance method: each month, interest is charged only on the amount you still owe. Check that your loan offer uses the same method. The fixed monthly payment that clears the loan on time is EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). Here P is the loan amount, r is the monthly rate (yearly rate ÷ 12 ÷ 100) and n is the number of months. If the rate is 0 %, the EMI is simply the loan amount divided by the months.
Worked example: a loan of ₹10,00,000 at 10 % a year for 20 years (240 months) has an EMI of ₹9,650.22. In the first month the interest is ₹8,333.33, so only ₹1,316.88 reduces the loan. Over 20 years you pay ₹23,16,051.95 in total, of which ₹13,16,051.95 is interest.
Using the result well
The table shows why early prepayments help: in the first years most of each EMI goes to interest. Compare two offers by entering both and looking at total interest, not just the EMI. A longer tenure lowers the EMI but raises the total interest.
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Honest limits
This is an estimate, not financial advice or a loan offer. It assumes a fixed rate for the whole tenure and equal monthly payments. Your lender's figure can differ because of fees, insurance, the EMI start date, rounding, or a floating rate that changes later. Check the repayment schedule in your loan agreement before you decide.
Frequently asked questions
Can I use this for a floating-rate loan?
Yes, as a snapshot. Enter today's rate. When the rate changes, your lender may change the EMI, the tenure or both, so recalculate with the new rate and the remaining balance.
Why do the totals differ slightly from EMI × months?
The totals use the exact EMI, not the one rounded to the paisa. The gap is up to half a paisa a month, so up to ₹1.80 over 30 years.
Does it handle 0 % interest offers?
Yes. Enter 0 as the rate and the EMI becomes the amount divided by the months. Processing fees are not included.
What limits does the calculator accept?
Loan amounts up to ₹1,000 crore, rates from 0 to 100 % a year, and tenures up to 50 years (600 months).