EMI Calculator
Calculate your monthly EMI for home loans, car loans, or personal loans. See the complete interest breakdown and total repayment amount.
Monthly EMI
₹21,696
Principal
₹25.00 L
Interest
₹27.07 L
Total
₹52.07 L
Frequently Asked Questions
How is EMI calculated?
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 monthly installments (years × 12).
What is the EMI for a ₹50 lakh home loan?
For ₹50 lakh at 8.5% for 20 years, monthly EMI is approximately ₹43,391. Total interest paid: ~₹54.1 lakhs over the full tenure.
Does prepayment reduce EMI or tenure?
You can choose either. Reducing tenure saves more interest overall. Most banks allow prepayment without penalty on floating-rate home loans (per RBI guidelines).
What are current home loan rates in India?
Home loan rates in 2026 range from 8.25% to 9.5%. SBI, HDFC, and ICICI offer competitive rates for borrowers with CIBIL scores above 750.
Longer or shorter loan tenure — which is better?
Shorter tenure = higher EMI but much less total interest. A ₹50L loan costs ₹19.3L interest over 15 years vs ₹38L over 30 years. Ideal EMI should be 30-40% of monthly income.
How to Use This EMI Calculator
Enter your loan principal amount, annual interest rate, and tenure in years. The calculator shows your monthly EMI, total amount payable, and a breakdown of principal vs interest. Use it to plan your loan budget before applying or to compare different loan options side by side.
Common Use Cases
- Planning home loan budget before applying
- Comparing EMI across different loan amounts and tenures
- Deciding between 15-year vs 20-year home loan
- Calculating personal loan repayment feasibility
Tips for Reducing Your EMI
Consider making a larger down payment to reduce principal. Opt for a floating rate if you expect interest rates to decrease. Making part-prepayments annually can significantly reduce total interest. Maintain a good CIBIL score (750+) to negotiate better interest rates with your lender.