Loan EMI Calculator India — Calculate EMI for Any Loan
Home · Car · Personal · Education Loan — Amortization, Prepayment & Bank Comparison
Whether it's a home loan, car loan, personal loan, education loan or business loan — all EMIs follow the same reducing-balance formula. This universal loan EMI calculator handles any loan type, amount (₹10,000 to ₹10 crore) and tenure (3 months to 30 years). Get your monthly EMI, complete amortization schedule and interest vs principal breakdown instantly.
💡 Best Tenure Suggestion
Compare how tenure affects your EMI and total interest
🔄 Prepayment Calculator
See how a lump-sum prepayment reduces your loan burden
🏦 Compare Loan from 3 Banks
See EMI difference across banks for your loan amount of ₹10,00,000
📅 Amortization Schedule
Month-by-month loan repayment breakdown
| Month | EMI | Principal | Interest | Balance | Paid % |
|---|---|---|---|---|---|
| Month 1 | ₹8,678 | ₹1,595 | ₹7,083 | ₹9,98,405 | |
| Month 2 | ₹8,678 | ₹1,606 | ₹7,072 | ₹9,96,799 | |
| Month 3 | ₹8,678 | ₹1,618 | ₹7,061 | ₹9,95,181 | |
| Month 4 | ₹8,678 | ₹1,629 | ₹7,049 | ₹9,93,552 | |
| Month 5 | ₹8,678 | ₹1,641 | ₹7,038 | ₹9,91,912 | |
| Month 6 | ₹8,678 | ₹1,652 | ₹7,026 | ₹9,90,260 | |
| Month 7 | ₹8,678 | ₹1,664 | ₹7,014 | ₹9,88,596 | |
| Month 8 | ₹8,678 | ₹1,676 | ₹7,003 | ₹9,86,920 | |
| Month 9 | ₹8,678 | ₹1,688 | ₹6,991 | ₹9,85,232 | |
| Month 10 | ₹8,678 | ₹1,700 | ₹6,979 | ₹9,83,533 | |
| Month 11 | ₹8,678 | ₹1,712 | ₹6,967 | ₹9,81,821 | |
| Month 12 | ₹8,678 | ₹1,724 | ₹6,955 | ₹9,80,098 |
How to Use EMI Calculator India
Select your loan type (Home, Car, Personal, Education), enter loan amount, set interest rate and tenure. Get instant monthly EMI, total interest, amortization schedule, and bank comparison — all free, no login required.
EMI Formula — How It Works
EMI = P × r × (1+r)ⁿ / ((1+r)ⁿ - 1) where P = Principal, r = monthly rate (Annual/12/100), n = months.
Example: ₹10 lakh at 8.5% for 20 years → EMI = ₹8,678/month · Total Interest = ₹10.83 lakh · Total Payment = ₹20.83 lakh.
When Should You Prepay Your Loan?
Prepaying in the first half of the tenure saves maximum interest — because early EMIs are mostly interest. A ₹2 lakh prepayment in year 2 of a 20-year home loan can save ₹4–6 lakh in total interest. Use our Prepayment Calculator above to see your exact savings.
Home Loan vs Car Loan vs Personal Loan — Key Differences
Home Loan: Lowest rates (8.5–9.5%), longest tenure (30 years), secured against property. Car Loan: Medium rates (8–10%), tenure 1–7 years, car as collateral. Personal Loan: Highest rates (10.5–24%), no collateral, fastest disbursement.
Frequently Asked Questions
How do I reduce my loan EMI?
Four ways: (1) Increase down payment — reduces principal. (2) Negotiate lower interest rate — higher CIBIL helps. (3) Extend tenure — reduces EMI but increases total interest. (4) Make prepayments — reduces outstanding principal and future EMI burden.
What is the 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 = loan tenure in months. Example: ₹10L at 10% p.a. for 5 years → r = 0.00833, n = 60 → EMI = ₹21,247.
What is a moratorium period in a loan?
A moratorium is an EMI holiday — you don't pay for 3–12 months. Common in education loans (study period + 6 months). Interest still accrues and is added to principal (capitalised), increasing total EMI burden later. Always account for this in loan planning.
Can I take a second loan while repaying the first?
Yes, if your FOIR (Fixed Obligations to Income Ratio) stays below 50%. Banks calculate: (existing EMIs + new EMI) ÷ gross income < 50%. Example: ₹80K salary → max EMI obligations = ₹40K. Existing EMI ₹25K → can take new loan with EMI up to ₹15K.