Calculate your monthly EMI, total interest payable, and full amortization schedule for any loan — Home, Car, or Personal.
Enter Loan Details
₹5,00,000
8.5%
5 Years
Loan Summary
🏦
Enter loan details and click Calculate
Monthly EMI
—
Principal Amount
—
Total Interest
—
Total Amount Payable
—
PrincipalInterest
📅 Amortization Schedule (First 12 Months)
Month
EMI (₹)
Principal (₹)
Interest (₹)
Balance (₹)
What is EMI and How is it Calculated?
EMI (Equated Monthly Installment) is a fixed payment made by a borrower to a lender each month on a fixed date. Each EMI includes both principal repayment and interest charges.
EMI Formula
EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ – 1]
Where: P = Principal loan amount | r = Monthly interest rate (Annual rate ÷ 12 ÷ 100) | n = Total number of months
Example Calculation
For a loan of ₹5,00,000 at 8.5% per annum for 5 years: Monthly EMI ≈ ₹10,224. Total payable ≈ ₹6,13,440. Total interest ≈ ₹1,13,440.
Tips to Reduce Your EMI
Make a larger down payment to reduce the principal. Opt for a longer tenure to reduce monthly EMI (though total interest increases). Always compare interest rates from multiple lenders before applying for a loan.
Frequently Asked Questions
How is EMI calculated on a loan?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P = Principal, r = monthly interest rate, n = number of months. Our calculator does this automatically — just enter your loan amount, rate, and tenure.
What is a good EMI to income ratio?
Financial experts recommend keeping your total EMIs below 40–50% of your monthly take-home income. This ensures you have enough left for living expenses and savings.
What is a personal loan interest rate in India 2025?
Personal loan interest rates in India typically range from 10% to 24% per year depending on the lender and your credit score. Bank loans are usually cheaper than NBFCs. Always compare rates before applying.
Does prepaying a loan save money?
Yes. Prepaying reduces your outstanding principal, which reduces total interest paid. Even one extra EMI per year can reduce the loan tenure significantly. Note: some lenders charge a prepayment penalty.
Plan Your Finances Better
After calculating your EMI, it helps to understand the total cost of your loan. Use our
Percentage Calculator
to find what percentage of income your EMI takes up.
Also check our GST Calculator India
if your loan involves GST charges.
Personal Loan EMI — What to Expect
A personal loan is unsecured, so lenders charge noticeably more than they do for a home or car loan. Rates commonly sit in the low-to-mid teens, and tenures usually run from one to five years. Because there is no collateral, your credit score and income stability drive both the rate you are offered and the amount sanctioned.
Personal loan EMI example
On a ₹5,00,000 personal loan at 14% for 5 years, the EMI works out to about ₹11,634, with total interest of roughly ₹1.98 lakh. Shortening the tenure to 3 years raises the EMI to about ₹17,089 but cuts the interest to around ₹1.15 lakh. Enter your own figures in the calculator above to compare.
Before you take one
Check the processing fee — it is often 1% to 3% of the loan amount and is deducted upfront.
Ask whether the rate is fixed or floating, and what foreclosure charges apply.
Keep total EMIs within roughly 40% to 50% of your net monthly income.
Dedicated Calculators for Home and Car Loans
This page handles any loan type. For the two biggest borrowing decisions most people make, we have separate tools that go further:
Home Loan EMI Calculator
The Home Loan EMI Calculator adds a year-wise amortisation schedule, a down payment and LTV check, and a prepayment simulator that shows how much tenure and interest a lump sum actually saves. On a ₹30 lakh loan at 8.5% for 20 years, the EMI is about ₹26,035 and total interest reaches ₹32.48 lakh.
Car Loan EMI Calculator
The Car Loan EMI Calculator compares flat rate against reducing rate — the single most common way car buyers overpay. A dealer's flat rate of 7% on a 5-year loan is roughly equivalent to 12.5% reducing, which is far more expensive than it sounds.
EMI ka matlab hai Equated Monthly Instalment, yaani loan chukane ke liye har mahine ki ek fixed kist. Formula hai: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1). Yahan P loan ki raashi hai, r monthly byaaj dar (saalana dar ÷ 12 ÷ 100) aur n mahino ki sankhya hai.
Example: ₹5,00,000 ka loan, 10% saalana byaaj par 5 saal (60 mahine) ke liye lene par EMI lagbhag ₹10,624 aati hai aur total byaaj lagbhag ₹1,37,411 banta hai. Upar calculator me apni raashi, byaaj dar aur tenure daalo, EMI aur total byaaj turant dikh jayega.