Loan EMI Calculator
Enter loan details to calculate monthly EMI and payment schedule
Real-time Calculation
₹
50K
1 Cr
5 Cr
1%
10.5%
20%
6M
15Y
30Y
Monthly EMI
₹ 17,398
Equated Monthly Installment
₹ 41,75,520
Total Payment
₹ 21,75,520
Interest Paid
₹ 20,00,000
Principal Amount
Payment Breakdown
Monthly EMI
₹ 17,398
Total Interest Payable
₹ 21,75,520
Principal Amount
₹ 20,00,000
Total Payment
₹ 41,75,520
₹ 17,398
Monthly EMI
Principal
Interest
Yearly Summary
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Calculating yearly breakdown... | |||
How to Use Loan EMI Calculator
Step-by-Step Guide
1
Select Loan Type
Choose from Home Loan, Car Loan, Personal Loan, or Education Loan. Each has a pre-set average interest rate.
2
Enter Loan Details
Adjust the loan amount, interest rate, and tenure using sliders or input fields.
3
Calculate EMI
Click "Calculate EMI" to instantly see your monthly payment and total cost breakdown.
4
Analyze Results
Review the payment breakdown, yearly summary, and amortization schedule.
EMI Calculation Formula
EMI Formula
EMI = [P × r × (1+r)^n] / [(1+r)^n - 1]
P =
Loan Principal Amount
r =
Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n =
Loan Tenure in Months
This formula calculates the fixed monthly payment (EMI) required to repay a loan over a specified period at a given interest rate.
Loan Type Comparison
| Loan Type | Interest Rate Range | Max Tenure | Tax Benefits | Best For |
|---|---|---|---|---|
| Home Loan | 7.5% - 9.5% | 30 Years | Yes (Section 80C, 24) | Property purchase/construction |
| Car Loan | 8.5% - 12% | 7 Years | No | New/used car purchase |
| Personal Loan | 10% - 24% | 5 Years | No | Emergency expenses, weddings |
| Education Loan | 8% - 12% | 15 Years | Yes (Section 80E) | Higher education expenses |