Calculate your Loan EMI with complete interest breakdown
EMI = P × r × (1+r)^n / ((1+r)^n - 1) where P=Principal, r=monthly rate, n=months.
Example: ₹30 Lakh at 8.5% for 20 years = approx ₹26,035 per month.
Choose Home Loan, Car Loan, or Personal Loan. Each has typical interest rate presets to help you start quickly.
Type in the total amount you plan to borrow. Home loans typically range from ₹10 lakh to several crores.
Enter the annual interest rate offered by your bank. Check the latest SBI, HDFC, or ICICI rates for accuracy.
Instantly see your monthly EMI, total interest payable, and total repayment amount.
EMI Formula: EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)
Where: P = loan amount | r = monthly interest (annual% ÷ 12) | n = total months
Example: ₹30 Lakh Home Loan @ 9% for 20 years → Monthly EMI ≈ ₹26,992
EMI (Equated Monthly Instalment) is the fixed monthly payment to repay a loan. Each EMI includes both a principal and an interest component.
As of 2026, major Indian banks offer Home Loan rates between 8.50% and 9.50% p.a. Under PMAY, eligible borrowers can avail interest subsidy up to 6.5%.
Yes, partial prepayment significantly reduces either your loan tenure or EMI. For floating rate home loans, most banks charge no prepayment penalty.
Fixed rate keeps your EMI constant for certainty. Floating rate changes with RBI policy. Over the long term, floating rate loans are generally cheaper in India.
A longer tenure reduces the monthly EMI but greatly increases the total interest paid. A 20-year loan may cost nearly double the total interest of a 10-year loan.