Calculate your monthly loan repayments instantly with our free EMI Calculator. Simply enter the loan amount, interest rate, and tenure to get accurate EMI estimates in seconds. Plan your finances better and compare different loan scenarios before making borrowing decisions.
Free EMI Tool
Instant Results
100% free
Loan Details
Monthly EMI
₹0
for 240 months
Principal Amount
₹0
Total Interest
₹0
Total Payment
₹0
Interest %
0%
Interest
0%
| Month | EMI | Principal | Interest | Balance |
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Home loan tenures range from 5–30 years. Lower rates (8–9%) from banks like SBI, HDFC. Use this calculator to compare offers before applying.
Car loans typically run 1–7 years at 7–15% interest. Calculate exact EMI based on ex-showroom price minus down payment.
Personal loans are unsecured with higher rates (10–24%). Tenures up to 5 years. Plan before borrowing to avoid EMI strain.
Use our free online EMI calculator to calculate home loan EMI, car loan EMI, and personal loan EMI in seconds. No sign-up. No fees. Just accurate results.
An EMI (Equated Monthly Installment) calculator is one of the most useful free online financial tools available to Indian borrowers. Whether you're planning a home loan, a car loan, a personal loan, or an education loan, our loan EMI calculator gives you instant results — monthly EMI, total interest payable, and a full amortization schedule — all without any registration.
Simply enter your loan amount, interest rate, and loan tenure. Our online EMI calculator uses the standard reducing balance formula used by all Indian banks — the same method used by SBI, HDFC, ICICI, Axis Bank, and Kotak Mahindra Bank.
One calculator works for all loan types in India
Calculate monthly EMI for home loans up to ₹1 Crore. Works for SBI home loan, HDFC home loan, ICICI home loan, and all banks. Plan your housing finance before applying.
Rates: 8.35% – 9.5% p.a.Calculate car loan EMI for new and used vehicles. Enter ex-showroom price minus down payment as loan amount. Tenures from 1 to 7 years.
Rates: 8.5% – 13% p.a.Personal loans are unsecured. Higher interest, shorter tenure (up to 5 years). Calculate exact EMI and total interest before borrowing. Keep EMI under 40% of income.
Rates: 10% – 24% p.a.Calculate EMI for MSME and business loans. Tenures up to 5 years. Useful for small businesses and self-employed individuals planning working capital loans.
Rates: 11% – 22% p.a.Calculate bike loan or scooter loan EMI. Two-wheeler loans typically run 12 to 48 months. Ideal for planning Hero, Honda, TVS, Bajaj, or Royal Enfield purchases.
Rates: 9% – 18% p.a.Our EMI calculator online uses the standard reducing balance method — the formula mandated by RBI and used by every bank in India. Here's exactly how EMI is calculated:
EMI Formula (Reducing Balance Method)
EMI = P × r × (1+r)ⁿ / [(1+r)ⁿ – 1]
Suppose you take a home loan of ₹50,00,000 at an interest rate of 8.5% per annum for a tenure of 20 years (240 months):
Monthly rate (r) = 8.5 ÷ 12 ÷ 100 = 0.00708
EMI = 50,00,000 × 0.00708 × (1.00708)²⁴⁰ / [(1.00708)²⁴⁰ – 1]
Monthly EMI = ₹43,391 | Total Payment = ₹1,04,13,840 | Total Interest = ₹54,13,840
This is exactly what our free EMI calculator computes — instantly, for any combination of loan amount, rate, and tenure.
Use these rates directly in our EMI calculator to get accurate monthly installment amounts
| Bank / Lender | Home Loan Rate | Personal Loan Rate | Car Loan Rate | Processing Fee |
|---|---|---|---|---|
| SBI (State Bank of India) | 8.50% – 9.85% | 11.15% – 14.30% | 8.65% – 9.90% | 0.35% + GST |
| HDFC Bank | 8.70% – 9.95% | 10.85% – 24.00% | 9.10% – 11.50% | Up to 0.5% |
| ICICI Bank | 8.75% – 10.05% | 10.85% – 16.25% | 9.00% – 12.50% | 0.5% + GST |
| Axis Bank | 8.75% – 9.65% | 10.49% – 22.00% | 9.05% – 11.30% | Up to 1% |
| Kotak Mahindra Bank | 8.70% – 9.50% | 10.99% – 16.99% | 7.99% – 10.00% | 0.5% + GST |
| Bank of Baroda | 8.40% – 10.65% | 12.15% – 16.15% | 8.55% – 10.20% | 0.25% + GST |
| LIC Housing Finance | 8.50% – 9.55% | N/A | N/A | ₹5,000 – ₹15,000 |
* Interest rates are indicative as of 2026. Actual rates depend on credit score, loan amount, income, and lender policies. Always verify with the bank before applying.
This table shows how increasing loan tenure reduces monthly EMI but significantly increases total interest paid. Use our EMI calculator to find the right balance for your budget.
Example: ₹50,00,000 Home Loan at 8.5% p.a.
| Loan Tenure | Monthly EMI | Total Interest Paid | Total Amount Paid | Best For |
|---|---|---|---|---|
| 5 Years (60 months) | ₹1,02,587 | ₹11,55,220 | ₹61,55,220 | Low Interest |
| 10 Years (120 months) | ₹61,993 | ₹24,39,160 | ₹74,39,160 | Good Balance |
| 15 Years (180 months) | ₹49,237 | ₹38,62,660 | ₹88,62,660 | Moderate |
| 20 Years (240 months) | ₹43,391 | ₹54,13,840 | ₹1,04,13,840 | Popular Choice |
| 25 Years (300 months) | ₹40,205 | ₹70,61,500 | ₹1,20,61,500 | High Interest |
| 30 Years (360 months) | ₹38,446 | ₹88,40,560 | ₹1,38,40,560 | Max Interest Cost |
Practical advice to lower your monthly installment and save on total interest
Every extra rupee in down payment reduces your principal. A 20% down payment instead of 10% on a ₹50L home reduces EMI by ~₹4,300/month.
A credit score of 750+ qualifies you for the lowest interest rates. Even 0.5% lower rate on a ₹50L home loan saves ₹2.5L+ over 20 years.
Even ₹50,000 prepayment per year reduces your outstanding principal. This cuts tenure by 3–4 years and saves lakhs in interest. Calculate impact with our EMI calculator.
A 0.5% rate difference between SBI (8.5%) and HDFC (9.0%) on ₹50L over 20 years = over ₹3.5L in additional interest. Always compare using our calculator.
Keep EMI at maximum 40–50% of monthly income. If you can afford ₹60,000/month, a 10-year tenure saves ₹29.7L in interest vs a 20-year loan.
If RBI cuts repo rate, refinance your home loan to a lower rate. Even a 0.75% reduction is worth switching lenders (check balance transfer costs first).
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